CTS Q2 Earnings Assessment

CTS 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:

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.

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.

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.