CTS Slashes FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, CTS Corp. (CTS) slashed its adjusted earnings and sales guidance for the full year 2019.

For fiscal 2019, the company lowered its adjusted earnings guidance to a range of $1.40 to $1.50 per share from the prior forecast range of $1.55 to $1.65 per share.

Sales for the full year are now expected to be in the range of $460 to $470 million, down from the prior guidance range between $470 million and $490 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.60 per share on sales of $476.35 million for the year. Analysts' estimates typically exclude special items.

"We are pleased with the QTI acquisition, which complements our strategic direction to further diversify our end market profile, and we expect it to be accretive in 2020," said Kieran O'Sullivan, CEO of CTS.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More