CTS Guides FY20 In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, CTS Corp. (CTS) initiated its adjusted earnings and sales guidance for the full year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $1.35 to $1.60 per share on sales between $450 million and $480 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.54 per share on sales of $461.97 million for the year. Analysts' estimates typically exclude special items.

"We anticipate a soft first half of 2020, with improvement in market conditions in the second half of the year. Our strategic priorities remain the same, driving profitable growth, margin improvement and advancing our end market profile," said Kieran O'Sullivan, CEO of CTS.