CTS Q3 2024 Adj. EPS $0.63 Beats $0.57 Estimate, Sales $132.424M Miss $132.479M Estimate
Portfolio Pulse from Benzinga Newsdesk
CTS reported Q3 2024 earnings per share of $0.63, surpassing the analyst estimate of $0.57. However, sales were slightly below expectations at $132.424 million, missing the estimate of $132.479 million. Sales decreased by 1.58% compared to the same period last year.
October 29, 2024 | 12:05 pm
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CTS reported better-than-expected Q3 2024 earnings per share of $0.63, beating the estimate of $0.57. However, sales slightly missed expectations at $132.424 million, a 1.58% decrease from last year.
The positive earnings surprise is likely to have a favorable impact on CTS's stock price in the short term, as EPS exceeded expectations by 10.53%. The slight miss in sales and the year-over-year decline may temper the positive sentiment, but the overall impact is expected to be positive due to the significant EPS beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100