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Dec 31, 2023
CTS Q4 2023 Earnings Report
CTS experienced a challenging year with softness in industrial and commercial vehicle markets, while making progress on strategic priorities and achieving solid growth in medical, aerospace, and defense end-markets.
Key Takeaways
CTS Corporation reported Q4 2023 sales of $125 million, a 12% decrease year-over-year. Net income remained consistent at $15 million, with earnings per diluted share increasing to $0.49 from $0.47. The company anticipates a soft first half of 2024 but expects an improving trend in the second half.
Sales decreased by 12% year-over-year, totaling $125 million.
Net income was $15 million, representing 12% of sales.
Earnings per diluted share increased to $0.49, compared to $0.47 in Q4 2022.
Adjusted earnings per diluted share decreased to $0.47, down from $0.56 in Q4 2022.
Revenue by Segment
Forward Guidance
CTS expects full-year 2024 sales to be in the range of $530 - $570 million and adjusted diluted EPS to be in the range of $2.10 - $2.35.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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