CTS (NYSE:CTS) Third Quarter 2022 Results
Key Financial Results
Revenue: US$151.9m (up 24% from 3Q 2021).
Net income: US$11.8m (up from US$63.9m loss in 3Q 2021).
Profit margin: 7.8% (up from net loss in 3Q 2021). The move to profitability was primarily driven by lower expenses.
EPS: US$0.37 (up from US$1.97 loss in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CTS Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 42%.
Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in the US.
The company's shares are up 5.2% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on CTS' balance sheet.
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