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CTS Corporation (NYSE: CTS) is a global leader in the design and manufacture of sensors, actuators, and electronic components for a diverse array of markets. Headquartered in Lisle, Illinois, CTS serves original equipment manufacturers (OEMs) in sectors including aerospace, communications, defense, industrial, information technology, medical, and transportation. The company operates manufacturing facilities across North America, Europe, and Asia, enabling a robust and flexible supply chain.
CTS aims to create an intelligent and seamless world by focusing on three core principles: Sense, Connect, and Move. This is achieved through continuous investment in innovative product development that meets the evolving needs of its customers. The company's product portfolio includes advanced sensing and motion devices as well as connectivity components, which play crucial roles in enabling smart technologies across various industries.
Recent Achievements:
- Advancement of strategic priorities while effectively navigating macroeconomic conditions.
- Successful financial performance in the second quarter of 2023, demonstrating resilience and operational excellence.
- Consistent focus on long-term strategies despite near-term challenges, as evidenced by the third quarter of 2023 results.
- Strong performance in the fourth quarter of 2023, with positive guidance for 2024.
- Continued drive for operational performance and diversification in the first quarter of 2024.
CTS is also known for its transparent communication with stakeholders, frequently holding conference calls to discuss quarterly results and future guidance. These calls are supplemented by slide presentations and live webcasts, which are accessible via the company's investor relations website.
In summary, CTS Corporation stands out as an indispensable player in the electronics industry, consistently delivering high-quality products and solutions that empower its clients to innovate and excel. With a strong geographical presence and a commitment to cutting-edge technology, CTS continues to shape the future of sensing, motion, and connectivity.
CTS (NYSE: CTS) announced its Q2 2024 results, reporting sales of $130 million, up 4% sequentially but down 10% year-over-year. The company achieved net income of $15 million (11% of sales) and earnings per diluted share of $0.48. Non-transportation end market sales increased 11% sequentially and 4% year-over-year, while transportation end market sales decreased. CTS completed the acquisition of SyQwest, for $125 million, enhancing its capabilities in underwater acoustic applications for the defense sector. The company updated its 2024 guidance, projecting full-year sales between $525-$540 million and adjusted diluted EPS of $2.05-$2.25, factoring in the SyQwest acquisition impact.
CTS (NYSE: CTS) has announced the release date for its second quarter 2024 earnings report. The company will disclose its financial results on Tuesday, July 30, 2024, at approximately 8:00 a.m. ET. Following the release, CTS will host a conference call at 10:00 a.m. ET on the same day to discuss the Q2 2024 results with management.
Investors and analysts can access the call using the following dial-in numbers: +1-833-470-1428 (Toll-Free) or +1-404-975-4839 (Local) for U.S. participants. International callers should refer to the Global Dial In Numbers for their local access number. The passcode for the call is 325452. Additionally, a live audio webcast of the conference call will be available on the CTS website's Investors section, where it will be archived for one year.
CTS , a company listed on the NYSE, has announced a cash dividend of $0.04 per share on common stock, to be paid on July 26, 2024, to shareholders of record as of June 28, 2024.
CTS announced their first quarter 2024 results, highlighting operational performance, profitability, and a focus on diversification. Sales were $125.7 million, down 14% year-over-year, with net income at $11 million. The company is committed to future growth through diversifying customer base and maintaining a disciplined capital structure. They maintain guidance of sales between $530 - $570 million and adjusted EPS between $2.10 - $2.35.
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