CTS Second Quarter 2024 Earnings: Misses Expectations

CTS (NYSE:CTS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$130.2m (down 10% from 2Q 2023).
• Net income: US$14.7m (up 14% from 2Q 2023).
• Profit margin: 11% (up from 8.9% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.48 (up from US$0.41 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CTS Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 7.7%.

Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are down 5.9% from a week ago.

Valuation

Our analysis of these results suggests CTS may be overvalued based on 6 important criteria we look at. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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