CTS Corp. (CTS) Tops Q1 EPS by 2c, Revenues Beat; Offers FY19 EPS Guidance Above Consensus, FY19 Revenue Outook Below Consensus

CTS Corp. (NYSE: CTS) reported Q1 EPS of $0.39, $0.02 better than the analyst estimate of $0.37. Revenue for the quarter came in at $117.6 million versus the consensus estimate of $115.9 million.

• Sales were $117.6 million, up 3.6% year-over-year. Sales to the transportation end market increased 6.1%, and sales to other end markets decreased 1.1%.
• Net earnings were $11.4 million or $0.34 per diluted share, compared to $11.5 million or $0.34 in the first quarter of 2018.
• Adjusted EPS was $0.39 per diluted share, up from $0.34 in the first quarter of 2018.
• Total Booked Business was $1.865 billion at the end of the first quarter of 2019.

“We delivered steady performance in the first quarter,” said Kieran O’Sullivan, CEO of CTS Corporation. “We remain cautious on the industrial and transportation end markets. We continue to focus on driving profitable top line growth, expanding operating leverage, and advancing our strategic plans.”

GUIDANCE:

CTS Corp. sees FY2019 EPS of $1.50-$1.70, versus the consensus of $1.43. CTS Corp. sees FY2019 revenue of $460-500 million, versus the consensus of $744.78 million.

For earnings history and earnings-related data on CTS Corp. (CTS) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c