CTS Announces First Quarter 2026 Results

About this update from Cts Corporation

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Diversification remains central to our strategy as we continue to strengthen our growth and quality of earnings."","length":413,"tagName":"p"},{"type":"text","content":" First Quarter 2026 Results ","length":26,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sales were $139 million in the first quarter of 2026, up 11% year-over-year. Sales to diversified end-markets increased 18%. Sales to the transportation market increased 3%.","length":173,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income was $17 million, or 12.4% of sales, compared to $13 million, or 10.6% of sales in the first quarter of 2025.","length":119,"tagName":"p"}]},{"val":[{"type":"text","content":"Diluted EPS was $0.59, up 15 cents from $0.44 in the first quarter of 2025.","length":75,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted Gross margin was 39.5%, up 250 bps from 37.0% in the first quarter of 2025.","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA margin was 23.0%, up 250 bps from 20.5% in the first quarter of 2025.","length":85,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted diluted EPS was $0.62, up 18 cents from $0.44 in the first quarter of 2025.","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating cash flow was $17.3 million, up $1.8 million from $15.5 million in the first quarter of 2025. ","length":103,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":723,"olType":false},{"type":"text","content":" 2026 Guidance ","length":13,"tagName":"p"},{"type":"text","content":"Assuming the continuation of current market conditions, CTS is narrowing its previous guidance of 2026 sales from a range of $550-$580 million to $560-$580 million and adjusted diluted EPS from a range of $2.30-$2.45 to $2.35-$2.45.","length":232,"tagName":"p"},{"type":"text","content":"CTS does not provide reconciliations of forward-looking non-GAAP financial measures, such as estimated adjusted diluted earnings per share, to the most comparable GAAP financial measures on a forward-looking basis because CTS is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, restructuring costs, environmental remediation costs, acquisition-related costs, foreign exchange rates and other non-routine costs. Each of such adjustments has not yet occurred, are out of CTS' control and/or cannot be reasonably predicted. For the same reasons, CTS is unable to address the probable significance of the unavailable information.","length":859,"tagName":"p"},{"type":"readMore"},{"type":"text","content":" Conference Call and Supplemental Materials ","length":42,"tagName":"p"},{"type":"text","content":"As previously announced, CTS has scheduled a conference call for 10:00 a.m. (ET) today. The conference call can be accessed by registering online at CTS Corporation Q1 2026 Earnings Call , at which time registrants will receive dial-in information as well as a conference ID. In addition, CTS will be using a supplemental slide presentation that will be referred to during the call. The presentation and a live audio webcast of the conference call will be available and can be accessed directly from CTS’ website at https://investors.ctscorp.com/news-events/events-and-presentations/default.aspx ","length":594,"tagName":"p"},{"type":"text","content":"Any replay, rebroadcast, transcript or other reproduction or transmission of this conference call, other than the replay accessible through the website noted above, has not been authorized by CTS and is strictly prohibited. Investors should be aware that any unauthorized reproduction of this conference call may not be an accurate reflection of its contents.","length":359,"tagName":"p"},{"type":"text","content":" About CTS      CTS Corporation (NYSE: CTS) is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components in North America, Europe and Asia, and provides engineered products to customers in the aerospace & defense, industrial, medical and transportation markets. For more information, visit www.ctscorp.com/ .","length":406,"tagName":"p"},{"type":"text","content":"Diversified end markets, previously referred as the “non-transportation” market, includes the industrial, aerospace & defense, and medical end markets.","length":155,"tagName":"p"},{"type":"text","content":" Cautionary Statement Regarding Forward-Looking Statements ","length":57,"tagName":"p"},{"type":"text","content":"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-looking statements” as defined by the “safe harbor” provisions in the Private Securities Litigation Reform Act of 1995. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included or incorporated in this document, including statements regarding our strategy, financial position, guidance, funding for continued operations, cash reserves, liquidity, projected costs, plans, projects, awards and contracts, and objectives of management, among others, are forward-looking statements. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “continued,” “project,” “plan,” “goals,” “opportunity,” “appeal,” “estimate,” “potential,” “predict,” “demonstrates,” “may,” “will,” “might,” “could,” “intend,” “shall,” “possible,” “would,” “approximately,” “likely,” “outlook,” “schedule,” “on track,” “poised,” “pipeline,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are not guarantees of future performance, conditions or results. Forward-looking statements are based on management’s expectations, certain assumptions, and currently available information. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. These forward-looking statements are made subject to certain risks, uncertainties, and other factors, which could cause CTS’ actual results, performance, or achievements to differ materially from those presented in the forward-looking statements. Examples of factors that may affect future operating results and financial condition include, but are not limited to: supply chain disruptions (including, but not limited to, the availability and cost of rare earth elements, minerals and metals); changes in the economy generally, including inflationary and/or recessionary conditions and increased tariffs, and in respect to the businesses in which CTS operates; unanticipated issues in integrating acquisitions; the funding of contracts by the U.S. Government; the results of actions to reposition CTS’ business; rapid technological change; general market conditions in the transportation, as well as conditions in the industrial, aerospace and defense, and medical markets; reliance on key customers; unanticipated public health crises, natural disasters or other events; environmental compliance and remediation expenses; the ability to protect CTS’ intellectual property; pricing pressures and demand for CTS’ products; risks associated with CTS’ international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks (including, without limitation, the impact of tariffs on China, Canada and Mexico, and other nations, the potential impact of U.S./China relations and the impact of geopolitical conflicts may have on our business, results of operations and financial condition; write offs of goodwill on our balance sheet; the amount and timing of any share repurchases; and the effect of any cybersecurity incidents on our business. Many of these, and other risks and uncertainties, are discussed in further detail in Item 1A. of CTS's most recent Annual Report on Form 10-K and other filings made with the SEC. CTS undertakes no obligation to publicly update CTS’ forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.","length":4122,"tagName":"p"},{"type":"text","content":" Contact   Ashish Agrawal  Vice President and Chief Financial Officer  CTS Corporation  4925 Indiana Avenue  Lisle, IL 60532 USA  +1 (630) 577-8800  [email protected] ","length":209,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"8","style":"text-align:center;vertical-align:middle;","val":[{"type":"text","content":" CTS CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - UNAUDITED (In thousands, except per share amounts) 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