CTS (NYSE:CTS) released its Q1 earnings on Wednesday, May 1, 2024 at 08:00 AM.
Here's what's important from the earnings announcement.
Earnings
CTS beat estimated earnings by 15.0%, reporting an EPS of $0.47 versus an estimate of $0.41.
Revenue was down $20.24 million from the same period last year.
Past Earnings Performance
The company beat on EPS by $0.01 in the previous quarter, leading to a 7.000000000000001% drop share price change the next day.
Here's a look at CTS's past performance:
| Quarter | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|
| EPS Estimate | 0.41 | 0.46 | 0.56 | 0.53 | 0.58 |
| EPS Actual | 0.47 | 0.47 | 0.54 | 0.59 | 0.61 |
| Revenue Estimate | 126.75M | 124.51M | 142.07M | 146.07M | 142.84M |
| Revenue Actual | 125.75M | 124.69M | 134.55M | 145.18M | 145.99M |
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 $2.1 and $2.35 per share.
Competitors that recently released earnings
With CTS's earnings data now available, it's crucial to gauge how its competitors, including Kimball Electronics, and Methode Electronics, have been performing.
- Kimball Electronics reported earnings on May 07, 2024 that fell short of expectations, with an actual EPS of $0.34 compared to the market's estimate of $0.4, resulting in a -15.0% decrease.
- Despite market projections of an EPS of $0.09, Methode Electronics's earnings on March 07, 2024 fell short with an actual EPS of $-0.33, representing a -466.67% decrease from expectations.
Insights: Competitors' Quarterly Earnings and Stock Performance
In this detailed analysis, insights are provided 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 | May 1, 2024 | 0.41 | 0.47 | 14.63% | $47.42 | $47.9 | 1.01% |
| Kimball Electronics | May 07, 2024 | 0.40 | 0.34 | -15.0% | $22.16 | $20.52 | -7.4% |
| Methode Electronics | March 07, 2024 | 0.09 | -0.33 | -466.67% | $14.49 | $14.51 | 0.14% |
Comparative Study: Estimated vs. Actual Peer Revenues
The table below illustrates a comparison of estimated and announced revenue figures for CTS's peers. This comparison sheds light on the revenue performance of these companies, providing valuable context to understand their financial standing within the industry.
| Company Name | Estimated Revenue | Announced Revenue | Revenue Surprise Percentage |
|---|---|---|---|
| CTS | 126.75M | 125.75M | -0.79% |
| Kimball Electronics | 440.20M | 425.04M | -3.44% |
| Methode Electronics | 287.80M | 259.50M | -9.83% |
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.