CTS Corporation designs and manufactures products that Sense, Connect and Move, including sensors, actuators and electronic components. The company supplies engineered products from operations in North America, Europe and Asia to aerospace & defense, industrial, medical and transportation customers.
Recurring CTS news centers on quarterly and annual results, demand across diversified end markets and transportation, margin and cash-flow commentary, guidance, dividends, share repurchase authorizations, investor presentations and management or board updates.
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CTS Corporation (NYSE: CTS) reported its first quarter 2023 results, revealing a 1.2% decrease in sales year-over-year, totaling $146.0 million. While sales to non-transportation markets rose by 4.6%, transportation sector sales fell 6.1%. Net income was $18.3 million, down from $20.2 million a year prior, with earnings per share at $0.58, compared to $0.63 in Q1 2022. The adjusted EBITDA margin also declined to 21.9% from 23.5%. Operating cash flow dropped to $11.2 million from $19.3 million a year ago. CTS maintains its 2023 guidance, forecasting sales between $580 and $640 million and adjusted diluted EPS of $2.40 to $2.70. The company emphasizes its ongoing strategic focus amid challenging macroeconomic conditions.
CTS Corporation (NYSE: CTS) will announce its Q1 2023 earnings on April 27, 2023, at 8:00 a.m. EDT. Following this, a conference call with management is set for 10:00 a.m. EDT, available for U.S. and Canadian listeners at 833-470-1428 or international callers at +1 929-526-1599, with the passcode 422657. A live audio webcast will also be accessible through the Investors section of CTS’s website and will be archived for one year. CTS specializes in manufacturing products that sense, connect, and move, serving key sectors such as aerospace, industrial, medical, and transportation.