Cts Corporation · NYSE:CTS
Cts — Q1 2025 Earnings Presentation
19 slides from Cts's earnings presentation, Apr 2, 2025
Slide 1: CTS Corporation 1st Quarter 2025 Earnings Call
CTS Corporation 1st Quarter 2025 Earnings Call April 30, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Readers are cautioned that the statements contained in this document regarding expectations of our performance or other matters that may affect our business, results of operations, or financial condition are, or may be deemed to be, “forward-
Slide 3: Q1 2025 – Driving Operational Execution
Q1 2025 – Driving Operational Execution • Solid growth from diversified end markets2 - Revenue up 14% year-over-year First Quarter - 53% of total revenue • Transportation end market remains challenging $126M 37% $0.44 - Revenue down (12)% year-over-year 1 1 Revenue Adj. Gross Margin Adj. Diluted EPS
Slide 4: End Markets Update: Medical and Aerospace & Defense
End Markets Update • Q1 Sales up 13% year-over-year Revenue ($ Millions) • Book-to-bill ratio 1.3, compared to 1.0 in the first quarter of 2024 Medical $19 • Wins for programs with application in kidney $17 $17 stone treatment and for intelligent imaging • Added a new customer for an AI driven Q1 20
Slide 5: End Markets Update: Industrial and Transportation
End Markets Update Revenue ($ Millions) • Q1 sales up 4% year over year Industrial • Book-to-bill ratio 1.2, compared to 1.0 in the $40 $32 first quarter of 2024 $31 • Added two new customers, a flowmeter application and one for temperature sensing Q1 2023 Q1 2024 Q1 2025 Revenue • Q1 sales down 12%
Slide 6: FY 2025 Guidance
FY 2025 Guidance Revenue Adjusted Diluted EPS 1 ($ Millions) $587 $550 2 $2.35 2 $2.46 $550 $520 $2.20 $513 $515 $2.22 $2.12 $1.93 $424 $1.12 2020 2021 2022 2023 2024 2025F 2020 2021 2022 2023 2024 2025F Key Outlook Assumptions - Monitoring the near-term economic impact of tariffs and the geopolitic
Slide 7: 1st Quarter and 2025 Financial Results
1st Quarter and 2025 Financial Results
Slide 8: Q1 2025 Financial Summary
Q1 2025 Financial Summary Results Highlights ($ Millions, except percentages and per share amounts) Revenue $126 $126 $126 • Diversified end market revenues up 14% vs. Q1 2024 • SyQwest added $3m in revenue • Transportation revenues down 12% year-over-year – Q1 2024 Q4 2024 Q1 2025 lower commercial
Slide 9: Strong Cash Flow Generation
Strong Cash Flow Generation Operating Cash Flow Cash and Debt1 ($ Millions) ($ Millions) $400 Total Facility $18 $16 $11 $90 $87 Borrowed Q1 2023 Q1 2024 Q1 2025 Cash Debt $11M $8M 2 3 Q1 2025 Free Cash Flow Cash Returned to Shareholders in Q1 2025 $4M Strong Balance Sheet Q1 2025 Capital Expenditur
Slide 10: Q&A
Q&A cts
Slide 11: Appendix
Appendix cts
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures From time to time, CTS may use non-GAAP financial measures in discussing CTS’ business. These measures are intended to supplement, not replace, CTS’ presentation of its financial results in accordance with U.S. GAAP. CTS believes that the non-GAAP financial measures prese
Slide 13: Regulation G Schedules: Adjusted Gross Margin
Regulation G Schedules Adjusted Gross Margin ($ Millions, except percentages) Three Months Ended Three Months Ended Twelve Months Ended March 31, December 31, December 31, 2025 2024 2024 2024 2023 2022 2012 Gross margin $ 46.5 $ 45.1 $ 46.9 $ 187.6 $ 190.9 $ 210.5 $ 91.5 Net sales $ 125.8 $ 125.7 $
Slide 14: Regulation G Schedules: Adjusted Operating Earnings
Regulation G Schedules Adjusted Operating Earnings ($ Millions, except percentages) Three Months Ended Twelve Months Ended March 31, December 31, 2025 2024 2024 2023 2022 Operating earnings $ 16.3 $ 14.5 $ 71.2 $ 75.1 $ 93.0 Net sales $ 125.8 $ 125.7 $ 514.8 $ 550.4 $ 586.9 Operating earnings as a %
Slide 15: Regulation G Schedules: Adjusted EBITDA Margin
Regulation G Schedules Adjusted EBITDA Margin ($ Millions, except percentages) Three Months Ended Three Months Twelve Months Ended March 31, Ended December 31, LTM December 31, 2025 2024 2024 Q2-24 to Q1 -25 2024 2023 2022 Net earnings $ 13.4 $ 11.1 $ 11.6 $ 57.8 $ 55.5 $ 60.5 $ 59.6 Net sales $ 125
Slide 16: Regulation G Schedules: Adjusted Net Earnings and Adjusted Diluted EPS
Regulation G Schedules Adjusted Net Earnings and Adjusted Diluted Earnings Per Share ($ Millions, except percentages and per share amounts) Three Months Ended Three Months Ended December 31, March 31, 2025 2025 2024 2024 2024 2024 Per share Per share Per share Net earnings (A) $ 13.4 $ 0.44 $ 11.1 $
Slide 17: Regulation G Schedules: Adjusted Net Earnings and Adjusted Diluted EPS
Regulation G Schedules Adjusted Net Earnings and Adjusted Diluted Earnings Per Share ($ Millions, except percentages and per share amounts) Twelve Months Ended LTM December 31, Q2-24 to Q1 -25 2024 2024 2023 2023 2022 2022 2021 2021 Per share Per share Per share Per share Per share Net earnings (los
Slide 18: Regulation G Schedules: Footnotes
Regulation G Schedules a) Reflected in selling, general and administrative and other (expense) income, net. b) Reflected in cost of goods sold. c) Reflected in restructuring charges. d) Reflected in other (expense) income, net. e) Reflected in income tax expense (income). For 2020, the discrete tax
Slide 19: Regulation G Schedules: Free Cash Flow
Regulation G Schedules Free Cash Flow Three Months Ended Twelve Months Ended ($ Millions, except percentages) March 31, December 31, 2025 2024 2024 2023 2022 Net cash provided by operating activities $ 15.5 $ 18.3 $ 98.2 $ 88.8 $ 121.2 Capital expenditures (4.5) (4.0) (18.6) (14.7) (14.3) Free cash