CTS Corp (NYSE:CTS)
$ 52.72 -0.4 (-0.75%) Market Cap: 1.59 Bil Enterprise Value: 1.63 Bil PE Ratio: 27.18 PB Ratio: 3.00 GF Score: 76/100
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Q2 2021 CTS Corp Earnings Call Transcript

Jul 27, 2021 / 02:00PM GMT
Release Date Price: $33.49 (-1.38%)
Operator

Good day, and welcome to the CTS Corporation Second Quarter 2021 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Kieran O'Sullivan. Please go ahead, sir.

Kieran M. O;Sullivan
CTS Corporation - Chairman, President & CEO

' -

Thank you, Tracy. Good morning. Thank you for joining us today, and welcome to CTS' Second Quarter 2021 conference call. Sales in the second quarter were $129.6 million, up 54% compared to the same period in 2020. Customer demand remains robust, while supply challenges persist, especially for automotive products.

Second quarter gross margin was 36.8%, up 525 basis points from 31.6% in the second quarter of 2020. Though improved, gross margin performance continues to be impacted by semiconductor and commodity price increases as well as increased logistics costs. EBITDA margin of 21.5% was up 480 basis points from 16.7% in the same period last year.

Second quarter adjusted earnings per share of $0.52 were up 225% from $0.16 in the second quarter

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