CTS CORPORATION Announces Q2 Fiscal Year 2023 Earnings Results on June 30 2023
July 27, 2023
🌥️Earnings Overview
On June 30, 2023, CTS CORPORATION ($NYSE:CTS) reported their financial results for the quarter ending July 25, 2023. Total revenue for the period was USD 145.2 million, a 0.1% increase compared to the same time in the prior year. Net income also rose 2.4%, coming in at USD 12.9 million.
Price History
On Tuesday, CTS CORPORATION announced its earnings results for Q2 Fiscal Year 2023, and the stock opened at $41.5 and closed at $41.6, representing a decline of 1.4% from its prior closing price of 42.2. The announcement marks the first fiscal quarter of 2023 for the company. The company credited the increased profitability to improved efficiency and cost savings initiatives that were implemented during the previous quarter.
Overall, CTS CORPORATION’s performance during Q2 was strong, and its stock showed signs of stability despite the decline in closing price. The company is confident that its strategies and initiatives will continue to drive growth and profitability throughout the remainder of fiscal year 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cts Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 585.37 | 57.98 | 10.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cts Corporation. More…
| Operations | Investing | Financing |
| 120.45 | -19.52 | -50.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cts Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 755.91 | 234.51 | 16.53 |
Key Ratios Snapshot
Some of the financial key ratios for Cts Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.9% | 28.1% | 13.6% |
| FCF Margin | ROE | ROA |
| 17.9% | 9.6% | 6.6% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of CTS CORPORATION‘s wellbeing. Our analysis revealed that CTS CORPORATION is a low risk investment in terms of both financial and business aspects, as indicated by our Risk Rating. Our team also detected one risk warning in the company’s balance sheets, but this information is only available to registered users. So if you are interest in learning more, don’t forget to register with GoodWhale. More…
Peers
The company’s products are used in a wide range of industries, including automotive, consumer, industrial, medical, and telecommunications. CTS Corp has a strong competitive position in the market, with a broad product portfolio and a large customer base. The company’s main competitors are Alps Alpine Co Ltd, Concraft Holding Co Ltd, and Man Yue Technology Holdings Ltd.
– Alps Alpine Co Ltd ($TSE:6770)
Alps Alpine Co Ltd is a Japanese company that manufactures and sells electronic equipment and components. The company has a market cap of 273.42B as of 2022 and a ROE of 8.73%. Alps Alpine is a leading manufacturer of electronic equipment and components, with a strong presence in the automotive, industrial, and consumer markets. The company’s products are used in a wide range of applications, including automotive electronics, communications, and computing. Alps Alpine is headquartered in Tokyo, Japan, and has manufacturing facilities in Japan, China, and the United States.
– Concraft Holding Co Ltd ($TWSE:4943)
Concraft Holding Co Ltd is a construction company that operates in the Chinese market. The company has a market capitalization of 1.19 billion as of 2022 and a return on equity of -142.04%. The company’s primary business is the construction of residential and commercial buildings. The company also provides construction management services.
– Man Yue Technology Holdings Ltd ($SEHK:00894)
Man Yue Technology Holdings Ltd is a Hong Kong-based investment holding company principally engaged in the provision of electronics manufacturing services. The Company operates its businesses through two segments. The Electronics Manufacturing Services Segment is engaged in the provision of one-stop electronics manufacturing services, including product design, printed circuit board assembly, plastic injection molding and product assembly. The Logistics Segment is engaged in the provision of logistics services, including international airfreight, international oceanfreight, warehousing and domestic transportation. As of December 31, 2011, the Company operated a total of 20 subsidiaries.
Summary
CTS CORPORATION has seen promising financial results for the second quarter of its fiscal year 2023. Total revenue was up 0.1% at USD 145.2 million, while net income rose 2.4% to reach USD 12.9 million. This indicates that their investments have been fruitful and that the company is on a good track for further growth. It may be a good idea for investors to consider investing into the company while it is still on an upward trajectory.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
