CTS Corp (NYSE:CTS)
$ 52.86 0.56 (1.07%) Market Cap: 1.62 Bil Enterprise Value: 1.55 Bil PE Ratio: 31.09 PB Ratio: 3.11 GF Score: 74/100
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Q4 2023 CTS Corp Earnings Call Transcript

Feb 06, 2024 / 03:00PM GMT
Release Date Price: $45.91 (+10.44%)
Operator

Hello, everyone, and welcome to the CTS Corporation Fourth Quarter 2023 conference call. My name is Daisy, and I'll be coordinating your call today. If you would like to register a question, please press star one on your telephone keypad. I would now like to hand over to your host, Kevin Sullivan, CEO again, Kevin, please go ahead.

Kieran O;Sullivan
CTS Corp - Chairman of the Risk Committee, Member of the Audit Committee

' -

Great.

Thank you, Dave, and good morning and thank you for joining our fourth quarter and full year 2023 earnings call. We continued to experience soft demand in the industrial distribution and commercial vehicle markets as outlined in our last earnings call, the light vehicle market is more stable across medical and defense. We saw good growth and see continued momentum in the year ahead. We are committed to a disciplined capital structure focused on supporting organic growth, strategic acquisitions and returning cash to shareholders. Our Board recently approved a $100 million share repurchase program that replaces

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