CTS CORPORATION Reports Second Quarter FY2023 Earnings Results for June 30th, 2023
August 4, 2023
🌥️Earnings Overview
On July 25th, 2023, CTS CORPORATION ($NYSE:CTS) released its earnings results for the second quarter of FY2023, ending June 30th, 2023. Revenue totaled USD 145.2 million, a slight 0.1% increase from the same quarter of the previous year. Net income also grew 2.4% year-over-year to reach USD 12.9 million.
Share Price
The company’s stock opened at $41.5 and closed at $41.6, down by 1.4% from the prior closing price of $42.2. The company attributed the decline in earnings to the impact of the pandemic on their ability to operate and generate revenue. Despite the challenges posed by the pandemic, CTS CORPORATION was able to post positive results in its core business and expand its product offerings. The company’s management team believes that by continuing to focus on providing innovative products and services, they are well-positioned to capitalize on future growth opportunities. 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
GoodWhale has conducted an analysis of the fundamentals of CTS CORPORATION. Our Star Chart has rated it as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This would make CTS CORPORATION highly attractive to value investors, growth investors, and dividend investors alike. CTS CORPORATION is strong in asset, dividend, profitability, and medium in growth. The company’s health score is 10 out of 10, which reflects its ability to maintain strong cashflows and manage its debt effectively. This indicates that CTS CORPORATION is capable to sustain future operations in times of crisis. Overall, CTS CORPORATION is a strong and attractive investment option due to its strong competitive advantage and high health score. 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 reported its second quarter FY2023 earnings on July 25th, 2023. Revenue increased slightly by 0.1% compared to the same period in the previous year, resulting in reported net income of USD 12.9 million, a 2.4% year-over-year growth. Investors may view this as a positive sign of stability and continued growth in the company’s performance, despite the current volatile market climate. However, further analysis is needed to assess the long-term potential of CTS CORPORATION as a sound investment.
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