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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Q1 2022 CTS Corp Earnings Call Transcript

Apr 28, 2022 / 02:00PM GMT
Release Date Price: $34.66 (+6.29%)
Operator

Good morning. My name is Lauren, and I will be your conference operator today. At this time, I would like to welcome everyone to the CTS Corporation First Quarter 2022 Earnings Call. (Operator Instructions) The supplemental slides presentation to accompany the prepared remarks can be found on the company's website. (Operator Instructions) At this time, I would like to turn over the call to Mr. Kieran O'Sullivan, CEO of CTS Corporation. Mr. O'Sullivan, you may begin your conference.

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

' -

Thank you, Lauren. Good morning. And welcome, everyone, to our first quarter 2022 earnings call. We reported solid financial results that were strengthened by our ongoing diversification efforts. Sales in the first quarter were $148 million, up 15% compared to the first quarter of 2021. First quarter adjusted gross margin was 37%, up 400 basis points from 33% in the first quarter of last year. Adjusted EBITDA margin of 23.5% was up 350 basis points from 20% in the same period last year. First

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