CTS Says COVID-19 Outbreak Negatively Impacts Q1 Results

(RTTNews) - CTS Corp. (CTS) said Thursday that the COVID-19 outbreak has negatively impacted its first quarter results. The company is still assessing the impact over the balance of 2020.

The company currently expects first quarter adjusted earnings per share to be in the range $0.15 to $0.23, and sales of $95 to $105 million. Analysts polled by Thomson Reuters expect the company to report earnings of $0.29 per share and revenues of $111.67 million for the first-quarter. Analysts' estimates typically exclude special items.

The company said it will provide an update to its annual guidance in its first quarter earnings release.

The company said in February that it expects adjusted earnings to be in a range of $1.35 to $1.60 per share, and sales of $450 million - $480 million for fiscal 2020.