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Sep 30, 2024
CTS Q3 2024 Earnings Report
CTS delivered improved earnings and generated stronger cash flow due to progress on operational improvements.
Key Takeaways
CTS Corporation announced third quarter 2024 results with improved earnings and stronger cash flow. Sales were $132 million, down 2% year-over-year, but up 2% sequentially. Net income was $19 million, up from $14 million in the third quarter of 2023. The company is updating its full year 2024 sales guidance to $515 - $525 million and reiterating its adjusted diluted EPS guidance to $2.05 - $2.25.
Sales were $132 million, a decrease of 2% year-over-year, but an increase of 2% sequentially.
Net income reached $19 million, representing 14% of sales, an increase from $14 million in Q3 2023.
Earnings per diluted share were $0.61, compared to $0.44 in the third quarter of 2023.
Operating cash flow was $35 million, up from $22 million in the third quarter of 2023.
Revenue by Segment
Forward Guidance
CTS is updating its guidance for full year 2024 sales to be in the range of $515 - $525 million and reiterating the adjusted diluted EPS guidance to be in the range of $2.05 - $2.25.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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