Loading...
•
Sep 30, 2023
CTS Q3 2023 Earnings Report
CTS navigated near-term challenges while maintaining focus on long-term strategy.
Key Takeaways
CTS Corporation announced third quarter 2023 results, which were impacted by headwinds in industrial end markets and distribution. Sales were $135 million, down 11% year-over-year. Net income was $14 million, and diluted earnings per share were $0.44. The company is updating its full-year guidance due to continued headwinds.
Sales were $135 million, down 11% year-over-year.
Net income was $14 million, or 10.4% of sales.
Diluted earnings per share were $0.44, compared to $0.37 per share in the third quarter of 2022.
Adjusted diluted EPS was $0.54, down from $0.62 in the third quarter of 2022.
Forward Guidance
CTS is updating its guidance of sales from the range of $565 – $585 million to $545 - $555 million, and adjusted diluted EPS from the range of $2.20 – $2.40 to $2.15 – $2.25.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...