CTS Q4 Results Miss Estimates, But Boosts FY23 Outlook

While reporting financial results for the fourth quarter on Tuesday, CTS Corp. (CTS) initiated its adjusted earnings and sales guidance for the full-year 2025.

CTS Corp. (CTS) reported Tuesday that net income for the second quarter increased to $15.71 million or $0.48 per share from $12.90 million or $0.41 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.54 per share, compared to $0.59 per share in the year-ago quarter.

CTS Corp. (CTS) reported Tuesday that net earnings for the fourth quarter increased to $15.32 million or $0.49 per share from $14.94 million or $0.47 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.47 per share, compared to $0.56 per share in the year-ago quarter.

CTS Corp. (CTS) reported Thursday that net earnings for the first quarter decreased to $18.34 million or $0.58 per share from $20.24 million or $0.63 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.61 per share, compared to $0.67 per share in the year-ago quarter.

While reporting financial results for the second quarter on Tuesday, CTS Corp. (CTS) raised its adjusted earnings and sales guidance for the full year 2022.

Japan's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2024, the Cabinet Office said in Tuesday's second preliminary estimate.

The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

The Malaysia stock market has tracked lower in three straight sessions, slumping almost 30 points or 2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.