Q: Gentlemen
Thoughts on the latest quarterly report?
Thoughts on the latest quarterly report?
5i Research Answer:
EPS was 19c vs 16c last year, and ahead of estimates of 13c. Revenue of $651M rose 1.6% and was short of estimates of $709M. EBITDA of $46.5M rose 8% and beat estimates of $46.1M. For 2024, CTS expects gross profit of $735M+ and EBITDA of $185M+ (estimates $191M). We would like to see faster revenue growth, but after a difficult couple of years this was a solid result by the company. But it did have an update Jan 30 regarding cash flow so there might not be a lot of movement here. Debt is down a bit and good earnings growth, if acheived, should get investors' attention with the stock only at 10X earnings today.