CTS Corp Files Q1 2024 10-Q
Ticker: CTS · Form: 10-Q · Filed: 2024-05-01T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
CTS Corp's Q1 2024 10-Q is in. Check financials.
AI Summary
CTS Corporation filed its 10-Q for the period ending March 31, 2024. The filing details financial performance and operational updates for the first quarter of 2024. Key financial data and disclosures relevant to investors are presented.
Why It Matters
This filing provides investors with the latest financial health and operational performance of CTS Corporation, crucial for making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 2024-03-31 — Period End Date (Financial reporting period)
- 2023-03-31 — Prior Period End Date (Comparison for financial reporting)
Key Players & Entities
- CTS CORP (company) — Filer
- 20240331 (date) — Period of Report
- 20240501 (date) — Filing Date
- LISLE, IL (location) — Business Address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240331, meaning the filing covers the quarter ending March 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240501.
What is the primary business of CTS Corporation?
CTS Corporation's Standard Industrial Classification is PRINTED CIRCUIT BOARDS [3672].
Where is CTS Corporation headquartered?
CTS Corporation's business address is 4925 INDIANA AVENUE, LISLE, IL 60532.
Does the filing mention any specific financial instruments or debt?
Yes, the filing references us-gaap:RevolvingCreditFacilityMember, us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember, and cts:USDollarDenominatedDebtMember.
From the Filing
0000950170-24-051203.txt : 20240501 0000950170-24-051203.hdr.sgml : 20240501 20240501153713 ACCESSION NUMBER: 0000950170-24-051203 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 102 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240501 DATE AS OF CHANGE: 20240501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-04639 FILM NUMBER: 24902677 BUSINESS ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305778800 MAIL ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 10-Q 1 cts-20240331.htm 10-Q 10-Q Q1 --12-31 0000026058 false http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#Revenues http://fasb.org/us-gaap/2023#Revenues http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#InterestExpense http://fasb.org/us-gaap/2023#InterestExpense http://fasb.org/us-gaap/2023#InterestExpense http://fasb.org/us-gaap/2023#InterestExpense 0000026058 us-gaap:RevolvingCreditFacilityMember srt:MaximumMember us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember cts:USDollarDenominatedDebtMember 2024-01-01 2024-03-31 0000026058 us-gaap:RetainedEarningsMember 2023-03-31 0000026058 us-gaap:CrossCurrencyInterestRateContractMember 2024-03-31 0000026058 2023-03-31 0000026058 us-gaap:CustomerRelationshipsMember 2023-12-31 0000026058 cts:ContingentConsiderationMember 2024-03-31 0000026058 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateSwapMember 2023-01-01 2023-03-31 0000026058 us-gaap:FairValueInputsLevel1Member us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0000026058 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateSwapMember 2024-01-01 2024-03-31 0000026058 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2022-12-31 0000026058 cts:ShutDownMember cts:MatamorosConsolidationMember 2023-01-01 2023-12-31 0000026058 us-gaap:InterestRateSwapMember us-gaap:OtherNoncurrentAssetsMember us-gaap:CashFlowHedgingMember 2024-03-31 0000026058 cts:OtherChargesMember 2024-01-01 2024-03-31 0000026058 us-gaap:ForeignExchangeContractMember us-gaap:SalesMember us-gaap:DesignatedAsHedgingInstrumentMember 2024-01-01 2024-03-31 0000026058 us-gaap:RetainedEarningsMember 2023-12-31 0000026058 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:FairValueInputsLevel2Member us-gaap:CashFlowHedgingMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0000026058 cts:RevolvingCreditFacilityDue2024Member srt:MinimumMember 2021-12-15 2021-12-15 0000026058 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2023-01-01 2023-03-31 0000026058 srt:MaximumMember cts:UnitedStatesEnvironmentalProtectionAgencyMember 2023-02-08 2023-02-08 0000026058 cts:RevolvingCreditFacilityDue2024Member 2021-12-15 0000026058 cts:AssetImpairmentAndOtherChargersMember cts:MatamorosConsolidationMember 2024-01-01 2024-03-31 0000026058 srt:MaximumMember cts:September2020PlanMember 2024-03-31 0000026058 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0000026058 2023-01-01 2023-03-31 0000026058 cts:CashSettledAwardsMember 2023-01-01 2023-03-31 0000026058 country:US us-gaap:PensionPlansDefinedBenefitMember 2024-01-01