Every material Form 8-K CTS filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
CTS reported third-quarter 2024 sales of $132 million, down 2% from a year earlier, while net income rose to $19 million from $14 million and diluted EPS reached $0.61 versus $0.44. The company lowered its full-year 2024 sales guidance to $515 million-$525 million from $525 million-$540 million, but kept its adjusted diluted EPS guidance of $2.05-$2.25, so shareholders face weaker revenue expectations even as profitability improved.
Q3 2024 sales were $132 million, down 2% year over year, and net income was $19 million, or 14% of sales.
Diluted EPS was $0.61 versus $0.44 a year earlier; adjusted diluted EPS was $0.63 versus $0.54.
Full-year 2024 sales guidance was cut to $515 million-$525 million from $525 million-$540 million.
Adjusted diluted EPS guidance of $2.05-$2.25 was reiterated; operating cash flow rose to $35 million from $22 million.
CTS Corporation said its principal accounting officer, Thomas White, is resigning to pursue a new professional opportunity, effective September 18, 2024. The filing says the departure is not related to any disagreement with auditors or management on accounting, disclosure, or internal controls, and that CFO Ashish Agrawal will take on the principal accounting officer role.
Thomas White notified the company of his resignation on September 4, 2024, effective September 18, 2024
Reason given: to pursue a new professional opportunity
No disagreement with auditors or management on accounting principles, financial statement disclosure, or internal controls, per the filing
Vice President and CFO Ashish Agrawal will act as principal accounting officer upon White's departure
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every CTS filing is on SEC EDGAR ↗. 8-K briefs of other companies →