Oct 26, 2022 / 02:00PM GMT
Operator
Hello, everyone, and welcome to the CTS Q3 2022 Earnings Call. My name is Seb, and I will be the operator for your call today. (Operator Instructions). I will now hand the floor over to Kieran O'Sullivan, CEO, to begin. Please go ahead.
Kieran M. O'Sullivan - CTS Corporation - Chairman, President & CEO
Thanks, Seb. Good morning, and welcome, everyone, to our third quarter 2022 earnings call. We delivered another strong quarter and reported solid financial results that were propelled forward by our strategic focus on diversification. Sales in the third quarter were $152 million, up approximately 24% compared to the third quarter of 2021. The third quarter adjusted gross margin was 36.6%, down 70 basis points from 37.3% in the third quarter of last year. Adjusted EBITDA margin of 22.3% was up 60 basis points from 21.7% in the same period in 2021. Third quarter adjusted earnings per diluted share of $0.62 were up 34% from $0.46 in the third quarter of 2021. Nontransportation sales accounted for approximately 48% of our overall revenue as we
Q3 2022 CTS Corp Earnings Call Transcript
Oct 26, 2022
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers