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Cts Corp. (CTS)
NYSE:CTS
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.54Last Year’s EPS
$0.47Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 7.54%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong performance and growth in diversified markets, particularly in aerospace and defense, and the positive impact of the SyQwest acquisition. However, challenges in the transportation sector, particularly in China, and a lowered revenue forecast for the full year indicate areas of concern.Company Guidance
During the CTS Corporation Third Quarter 2024 Earnings Call, key financial metrics were discussed, revealing revenue of $132 million with adjusted earnings per share (EPS) of $0.63. The company executed its diversification strategy, with diversified markets contributing approximately 52% of total revenue. Adjusted gross margin improved by 416 basis points, supported by favorable foreign exchange impacts. Sales to diversified medical, aerospace and defense, and industrial markets increased by 18% compared to the previous year. The book-to-bill ratio rose to 1, up from 0.92 in Q3 2023, indicating positive momentum in industrial markets. Notably, aerospace and defense sales surged by 89% year-over-year. The transportation segment, however, experienced a 17% decline in sales, reflecting softer market demand. CTS updated its full-year sales guidance to a range of $515 million to $525 million, down from the prior range, while maintaining its adjusted diluted EPS guidance between $2.05 and $2.25.Diversification Strategy Success
Revenue from diversified markets accounted for approximately 52% of overall revenue in the quarter, with diversified medical, aerospace and defense, and industrial sales up 18%.
SyQwest Acquisition Impact
The acquisition contributed $3.6 million in revenue during the quarter and is expected to drive future growth in sensors, transducers, and subsystems.
Improved Gross Margins
Adjusted gross margin expanded by 416 basis points in the quarter, driven by foreign exchange favorability and improved plant efficiency.
Aerospace and Defense Sales Surge
Aerospace and defense sales were up 89% from the prior year period, with bookings up 92% year-over-year, excluding the impact of the SyQwest acquisition.
Positive Cash Flow and Shareholder Returns
Generated $35 million in operating cash flow and repurchased 245,000 shares totaling approximately $12 million during the quarter.
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CTS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CTS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $48.54 | $49.73 | +2.45% |
| Jul 30, 2024 | $51.66 | $47.85 | -7.38% |
| May 01, 2024 | $45.68 | $47.34 | +3.63% |
| Feb 06, 2024 | $41.47 | $45.80 | +10.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cts Corp. (CTS) report earnings?
Cts Corp. (CTS) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Cts Corp. (CTS) earnings time?
Cts Corp. (CTS) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CTS EPS forecast?
CTS EPS forecast for the fiscal quarter 2024 (Q4) is $0.54.
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