CTS Corporation reports strong Q4 2024 earnings with focus on market diversification
CTS Corporation reported its fourth quarter and full year 2024 earnings, highlighting a continued focus on diversification in medical, industrial, aerospace, and defense markets. In Q4, diversified markets contributed 56% of total revenue. The company noted six new wins in electrification, emphasizing its strategy to enhance growth. The SyQwest acquisition is expected to boost revenue in 2025. CTS also reported an increase in adjusted gross margin for 2024, up 243 basis points from the previous year. The leadership aims to drive growth through organic initiatives and strategic acquisitions.