CTS Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Thursday, CTS Corp. (CTS) raised its adjusted earnings and sales guidance for the full year 2021.

For fiscal 2021, the company now projects adjusted earnings in a range of $1.35 to $1.70 per share on sales between $445 million and $500 million.

Previously, the company expected adjusted earnings in a range of $1.20 to $1.60 per share on sales between $430 million and $490 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.46 per share on sales of $473.27 million for the year. Analysts' estimates typically exclude special items.

"Our strategic focus is on organic growth and to leverage our strong balance sheet for key acquisitions to drive long term shareholder value," said Kieran O'Sullivan, CEO of CTS.