CTS Q2 Earnings Assessment - CTS (NYSE:CTS)

CTS (NYSE:CTS) reported its Q2 earnings results on Tuesday, July 30, 2024 at 08:00 AM.

Here's what investors need to know about the announcement.

Earnings

CTS beat estimated earnings by 2.0%, reporting an EPS of $0.54 versus an estimate of $0.53.

Revenue was down $15.02 million from the same period last year.

Previous Earnings Records

The company beat on EPS by $0.06 in the previous quarter, leading to a 2.0% increase share price change the next day.

Here's a look at CTS's past performance:

Quarter	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
EPS Estimate	0.53	0.41	0.46	0.56	0.53
EPS Actual	0.54	0.47	0.47	0.54	0.59
Revenue Estimate	133.38M	126.75M	124.51M	142.07M	146.07M
Revenue Actual	130.16M	125.75M	124.69M	134.55M	145.18M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

CTS management provided guidance for FY 2024, expecting earnings between $2.05 and $2.25 per share.

Competitors that recently released earnings

When analyzing CTS's numbers, it's imperative to put them into context by comparing them to those of its competitors, like Methode Electronics, RF Industries, and Data I/O.

Methode Electronics, earnings announced on July 11, 2024, faced a downturn this quarter. Despite the market's EPS estimate of $-0.2, Methode Electronics disclosed an EPS of $-0.23, resulting in a decrease of -15.0% compared to expectations. This discrepancy could unsettle investors.
RF Industries, earnings revealed on June 13, 2024, exhibited robust performance this quarter. Contrary to the market's projected EPS of $-0.02, RF Industries exceeded expectations with an EPS of $0.01, reflecting an increase of 150.0% compared to estimates. This outcome is likely to gain investor confidence
Data I/O announced earnings on July 25, 2024, revealing results below market expectations. Despite the market's anticipation of an EPS of $-0.01, Data I/O's actual EPS was $-0.09, resulting in a -800.0% decrease compared to expectations.

In-depth Analysis: Competitors' Quarterly Earnings and Stock Performance

The provided analysis offers insights into the market's response to the latest earnings releases of key competitors. It highlights the expected and announced earnings per share (EPS) for each company, along with their corresponding stock prices at the close of the announcement day and the open of the following trading day.

Company Name	Date	EPS Expected	EPS Announced	EPS Change Percent	Stock Price At Close	Stock Price at Next Day Open	Price Change Percent
CTS	July 30, 2024	0.53	0.54	1.89%	$47.89	$48.24	0.73%
Methode Electronics	July 11, 2024	-0.20	-0.23	-15.0%	$13.62	$13.8	1.32%
RF Industries	June 13, 2024	-0.02	0.01	150.0%	$3.2	$3.21	0.31%
Data I/O	July 25, 2024	-0.01	-0.09	-800.0%	$2.79	$2.67	-4.3%

Comparative Assessment: Estimated in Comparison with Actual Peer Revenues

Here is a comparison table showing estimated and announced revenue figures for CTS's peers. This comparison offers insights into the revenue performance of these companies, giving valuable context for understanding their financial standing within the industry.

Company Name	Estimated Revenue	Announced Revenue	Revenue Surprise Percentage
CTS	133.38M	130.16M	-2.41%
Methode Electronics	264.04M	277.30M	5.02%
RF Industries	16.28M	16.11M	-1.04%
Data I/O	6.31M	5.06M	-19.78%

To track all earnings releases for CTS visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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