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:
| 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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