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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 Corporation (NYSE: CTS) will have its CEO, Kieran O’Sullivan, attend the Jefferies Industrial Conference on August 9, 2022, at 8:00 a.m. EDT. The event will be virtual, and a live webcast can be accessed through a provided link.
The webcast will also be available for replay on the CTS Corporation website for 90 days post-event.
CTS Corporation (NYSE: CTS) reported strong Q2 2022 results with a 12% revenue increase year-over-year, totaling $145 million. Non-transportation sales surged by 21%, while transportation sales grew by 4%. Net income rose to $12.6 million ($0.39 per diluted share), compared to $0.9 million ($0.03 per diluted share) a year earlier. The company’s adjusted EBITDA margin improved to 22.4%. Full-year 2022 guidance is raised to $570-$600 million in sales and adjusted EPS of $2.40-$2.55, reflecting confidence despite macroeconomic challenges.
CTS Corporation (NYSE: CTS) will announce its second quarter 2022 earnings on July 26, 2022, at 8:00 a.m. EDT. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. EDT. Participants can dial in at 844-200-6205 (or +1 929-526-1599 for international calls) using passcode 990568. The call will be accessible via a live audio webcast on the CTS Investors website, with an archived version available for one year. CTS specializes in designing and manufacturing sensors and electronic components for various markets including aerospace, industrial, medical, and transportation.
CTS Corporation (NYSE: CTS) has successfully completed its acquisition of Ferroperm Piezoceramics from Meggitt PLC for 525 million Danish Krone. This strategic move enhances CTS's portfolio in high-performance piezoceramic components, catering to demanding medical, industrial, and aerospace applications. Ferroperm's established presence in Europe and customer base aligns well with CTS's diversification strategy. With this acquisition, CTS anticipates growth acceleration and expects the deal to be accretive in 2023.
On May 18, 2022, CTS Corporation (NYSE: CTS) announced that Ashish Agrawal, its Vice President and Chief Financial Officer, will participate in a fireside chat at the Cowen 50th Annual Technology, Media & Telecom Conference on June 1, 2022, at 4:30 p.m. (EDT) in New York, NY. Interested parties can access a live webcast of the event through a provided link or the Investors section of the CTS website. The webcast will also be available for replay for 90 days after the presentation.
CTS Corporation (NYSE: CTS) has declared a cash dividend of $0.04 per share, set to be paid on July 22, 2022, to shareholders on record as of June 17, 2022. The company specializes in designing and manufacturing sensors, actuators, and electronic components for diverse markets like aerospace, industrial, medical, and transportation. CTS operates globally with facilities in North America, Europe, and Asia.
CTS Corporation reported strong first-quarter results for 2022, with a revenue increase of 15% year-over-year, reaching $147.7 million. Notably, sales in non-transportation markets surged 30%, while transportation sales grew 4%. Net income rose to $20.2 million, or $0.63 per diluted share. Adjusted EBITDA margin expanded by 350 basis points to 23.5%. The company raised its full-year sales guidance to $550 - $580 million and adjusted diluted EPS to $2.20 - $2.45, reflecting optimism despite ongoing inflation and supply chain challenges.
CTS Corporation (NYSE: CTS) will announce its Q1 2022 earnings on April 28, 2022, at 8:00 a.m. EDT. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. EDT. Investors can dial in using 844-200-6205 (or +1 929-526-1599 for international calls) with passcode 549088. The call will also be accessible via a live audio webcast from the Investor section of the CTS website.
CTS is a prominent manufacturer of sensors, actuators, and electronic components serving various industries including aerospace and medical.
CTS Corporation (NYSE: CTS) has entered a definitive Share Purchase Agreement to acquire Meggitt A/S for Danish Krone 525 million in cash, pending regulatory approvals. Meggitt A/S, known as Ferroperm Piezoceramics, specializes in high-performance piezoceramic components for medical, industrial, and aerospace applications. This acquisition is anticipated to enhance CTS's piezoceramic business and diversify its offerings, particularly in medical therapeutics, aligning with its focus on high-quality materials. The transaction is set to close in 2022, subject to customary conditions.
CTS Corporation (NYSE: CTS) has successfully acquired TEWA Temperature Sensors SP. Zo.o. for an enterprise value of $24.5 million. TEWA, established in 1964 and based in Lublin, Poland, is renowned for its high-quality temperature sensors and stable ceramic technology, enhancing CTS’s temperature sensing capabilities.
This acquisition aligns with CTS's market diversification strategy and is expected to leverage TEWA’s distribution network, expanding CTS’s reach in Europe and enhancing commercial synergies.
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