CTS Corporation Sees FY24 Adjusted Diluted EPS To Be In Range Of $2.05-$2.25 Vs. $2.24 Est (Prior View: $2.10-$2.35)
Portfolio Pulse from Benzinga Newsdesk
CTS Corporation has updated its FY24 guidance, lowering its adjusted diluted EPS range to $2.05-$2.25 from the previous $2.10-$2.35, and its sales forecast to $525-$540 million. This adjustment reflects more moderate growth expectations and includes the impact of the SyQwest acquisition.
July 30, 2024 | 12:11 pm
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CTS Corporation has revised its FY24 guidance, lowering its adjusted diluted EPS range to $2.05-$2.25 from the previous $2.10-$2.35, and its sales forecast to $525-$540 million. This reflects more moderate growth expectations and includes the impact of the SyQwest acquisition.
The downward revision in EPS and sales guidance indicates that CTS Corporation is expecting more moderate growth in the second half of 2024. This could lead to a negative short-term impact on the stock price as investors adjust their expectations.
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