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Dec 31, 2022
CTS Q4 2022 Earnings Report
CTS reported solid Q4 2022 results, with revenue up 7% year-over-year and adjusted EPS increasing to $0.56.
Key Takeaways
CTS Corporation announced its Q4 and full-year 2022 results, showcasing a 7% increase in revenue for the quarter and a rise in adjusted EPS to $0.56. The company's diversification and electrification strategies contributed to profitable growth, with non-transportation end markets growing by 22%.
Sales increased by 7% year-over-year, reaching $142.3 million.
Net income rose to $14.9 million, representing 11% of sales.
Earnings per share increased to $0.47 per diluted share.
Adjusted diluted EPS was $0.56, up from $0.49 in the fourth quarter of 2021.
Revenue by Segment
Forward Guidance
CTS expects full-year 2023 sales to be in the range of $580 - $640 million and adjusted diluted EPS to be in the range of $2.40 - $2.70.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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