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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Q3 2023 CTS Corp Earnings Call Transcript

Oct 26, 2023 / 02:00PM GMT
Release Date Price: $38.1 (-0.52%)
Operator

Hello, and welcome to the CTS Corporation Third Quarter 2023 Conference Call. My name is Alex, I'll be coordinating the call today. (Operator Instructions)

I now hand over to your host, Kieran O'Sullivan, CEO, to begin. Please go ahead.

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

' -

Thanks, Alex. Good morning, and thank you for joining our third quarter 2023 earnings call. We continue to see weak demand in industrial and distribution markets impacting sales as elevated inventories at our customers slowly correct. We are also seeing softening in commercial vehicle demand across the light vehicle transportation market, the impact of the UAW strike was low for the third quarter.

We continue to expand our customer base in industrial and medical markets where we had several product wins. We also secured our first development award for a motor position sensor with application in electrified vehicles. Our focus on profitable growth, driving diversification through our advanced materials capability and growth

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