CTS - Why CTS Corporation Shares Jumped 13.3% Today
2024-02-06 14:55:45 ET
Shares of industrial supplier CTS Corporation (NYSE: CTS) jumped as much as 13.3% in trading on Tuesday after the company reported fourth-quarter 2023 financial results. Shares are still up 10.2% as of 2 p.m. ET.
CTS isn't blowing the doors off the industry, but it's at least performing better than expected. Revenue was down 12% in the quarter to $125 million and net income was flat at $15 million, or $0.49 per share.
Analysts were expecting revenue of $124.5 million and earnings of just $0.46 per share, so clearing that bar was enough for investors today.
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Why CTS Corporation Shares Jumped 13.3% Today