Slide 1: CTS Corporation 3rd Quarter 2025 Earnings Call
CTS Corporation 3rd Quarter 2025 Earnings Call October 28, 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: Q3 2025 – Driving Diversification and Solid Execution
Q3 2025 – Driving Diversification and Solid Execution • Solid growth from diversified end markets2 - Revenue up 22% year-over-year Third Quarter - 59% of total revenue • Transportation end market remains challenging $143M 38.9% $0.60 Revenue Adj. Gross Margin1 Adj. Diluted EPS1 - Revenue down (7)% y
Slide 4: End Markets Update: Medical and Aerospace & Defense
End Markets Update Q3 YTD Revenue ($ Millions) • Q3 Sales $22M, up 22% year-over-year • Bookings up 8% year-over-year Medical $60 $52 $53 • Added two customers for diagnostic ultrasound • Received orders for therapeutics, pacemakers, ophthalmology applications 2023 2024 2025 • Q3 Sales $25M, up 23%
Slide 5: End Markets Update: Industrial and Transportation
End Markets Update Q3 YTD Revenue ($ Millions) • Q3 sales $37M, up 21% year over year Industrial $105 $94 $104 • Bookings up 29% year-over-year • Multiple wins for industrial printing, EMC, temperature sensing applications • Added a new customer for position sensing 2023 2024 2025 • Q3 sales $59M, d
Slide 6: FY 2025 Guidance
FY 2025 Guidance Revenue Adjusted Diluted EPS 1 ($ Millions) $587 $545 $2.25 $2.46 $550 $535 $2.20 $513 $515 $2.22 $2.12 $1.93 $424 $1.12 2020 2021 2022 2023 2024 2025F 2020 2021 2022 2023 2024 2025F Key Outlook Assumptions - Continuation of current market conditions - Monitoring the near-term econo
Slide 7: 3rd Quarter 2025 Financial Results
3rd Quarter 2025 Financial Results
Slide 8: Q3 2025 Financial Summary
Q3 2025 Financial Summary Results Highlights ($ Millions, except percentages and per share amounts) Revenue $143 • Diversified end market revenues up 22% vs. Q3 2024 $132 $135 • SyQwest revenue $8.8M in Q3 2025 • Transportation revenues down (7)% year over year – Q3 2024 Q2 2025 Q3 2025 sales soft f
Slide 9: Strong Cash Flow Generation
Strong Cash Flow Generation Q3 YTD Operating Cash Flow Cash and Debt1 ($ Millions) ($ Millions) $73 $73 $400 Total Facility $57 $110 $91 Borrowed 2023 2024 2025 Cash Debt $60M $44M 2 3 Free Cash Flow YTD 2025 Cash Returned to Shareholders YTD 2025 $13M Strong Balance Sheet Capital Expenditures YTD 2
Slide 10: Q&A
Q&A cts
Slide 11: Appendix
Appendix cts
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures From time to time, CTS may use non-GAAP financial measures in discussing CTS’ business. These measures are intended to supplement, not replace, CTS’ presentation of its financial results in accordance with U.S. GAAP. CTS believes that the non-GAAP financial measures prese
Slide 13: Regulation G Schedules: Adjusted Gross Margin
Regulation G Schedules Adjusted Gross Margin ($ Millions, except percentages) Three Months Ended Nine Months Ended Three Months Twelve Months Ended September 30, September 30, Ended June 30, LTM December 31, 2025 2024 2025 2024 2025 Q4-24 to Q3-25 2024 2023 2022 2012 Gross margin $ 55.3 $ 49.2 $ 154
Slide 14: Regulation G Schedules: Adjusted Operating Earnings
Regulation G Schedules Adjusted Operating Earnings ($ Millions, except percentages) Three Months Ended Nine Months Ended Twelve Months Ended September 30, September 30, LTM December 31, 2025 2024 2025 2024 Q4-24 to Q3-25 2024 2023 2022 Operating earnings $ 20.9 $ 20.9 $ 60.0 $ 53.2 $ 78.9 $ 71.2 $ 7
Slide 15: Regulation G Schedules: Adjusted EBITDA Margin
Regulation G Schedules Adjusted EBITDA Margin ($ Millions, except percentages) Three Months Ended Nine Months Ended Three Months Twelve Months Ended September 30, September 30, Ended June 30, LTM December 31, 2025 2024 2025 2024 2025 Q4-24 to Q3-25 2024 2023 2022 Net earnings $ 13.7 $ 18.1 $ 45.6 $
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 Nine Months Ended Three Months Ended September 30, September 30, June 30, 2025 2025 2024 2024 2025 2025 2024 2024 2025 2025 Per Share Per Sha
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, Q4-24 to Q3-25 2024 2024 2023 2023 2022 2022 2021 2021 2020 2020 Per share Per share Per share Per share Per share Per shar
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 2022, the discrete tax
Slide 19: Free Cash Flow
Regulation G Schedules Free Cash Flow ($ Millions, except percentages) Three Months Ended Nine Months Ended Twelve Months Ended September 30, September 30, December 31, 2025 2024 2025 2024 2024 2023 2022 Net cash provided by operating activities $ 29.0 $ 35.4 $ 72.9 $ 73.3 $ 98.2 $ 88.8 $ 121.2 Capi