CTS (CTS) Q1 2026 Earnings Call Transcript

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Wed, April 29, 2026 astatine 10:14 AM CDT 23 min read

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DATE

Wednesday, April 29, 2026 astatine 10 a.m. ET

CALL PARTICIPANTS

• Chairman, President, and Chief Executive Officer — Kieran O'Sullivan

• Chief Financial Officer — Ashish Agrawal

• Chief Operating Officer — Pratik Trivedi

Full Conference Call Transcript

Kieran O'Sullivan: Good morning, and convey you for joining america today. I americium pleased to study a coagulated 2026 for CTS Corporation with diversified income up treble digits arsenic we proceed to execute our diversification strategy. We besides saw beardown bookings momentum successful the concern and aesculapian markets. In transportation, we spot stableness successful gross with humble maturation successful the archetypal quarter. Overall, with maturation successful cardinal extremity markets and coagulated execution, we judge the institution is good positioned to present connected its strategical objectives. Ashish Agrawal, our CFO, volition instrumentality america done the harmless harbor connection and aboriginal done our financials. Pratik Trivedi, our COO, volition supply an update connected the advancement successful each of our extremity markets. Ashish?

Ashish Agrawal: I would similar to punctual our listeners that this telephone contains forward-looking statements. These statements are taxable to a fig of risks and uncertainties that could origin existent results to disagree materially from those expressed successful the forward-looking statements. Additional accusation regarding these risks and uncertainties is contained successful the property merchandise issued today, and much accusation tin beryllium recovered successful the company's SEC filings. To the grade that today's treatment refers to immoderate non-GAAP measures nether Regulation G, the required explanations and reconciliations are disposable with today's net property merchandise and the supplemental descent presumption which tin beryllium recovered successful the Investors conception of the CTS Corporation website.

I volition present crook the treatment backmost implicit to our CEO, Kieran O'Sullivan.

Kieran O'Sullivan: Thank you, Ashish. We finished the archetypal 4th with income of $139 million, representing a coagulated 11% summation compared to 2025. Our diversified extremity markets were up 18%. Transportation income grew 3%. Our book-to-bill ratio for the archetypal 4th was 1.1, up 4% compared to 2025. Looking astatine bookings performance, concern bookings were strong, driven by stabilized OEM request and the betterment successful distribution. Medical bookings showed robust maturation driven by continued spot successful diagnostics and therapeutic applications. In aerospace and defense, we proceed to person a robust pipeline of opportunities adjacent arsenic bookings were down compared to past year, arsenic backing connected assorted programs is expected to amended successful the 2nd half.