09:26 AM EDT, 07/30/2024 (MT Newswires) -- CTS (CTS) reported Q2 adjusted earnings Tuesday of $0.54 per diluted share, down from $0.59 a year earlier.

Two analysts polled by Capital IQ expected $0.53.

Net sales for the quarter ended June 30 were $130.2 million, down from $145.2 million a year earlier.

Two analysts surveyed by Capital IQ expected $133.3 million.

The company now expects 2024 adjusted diluted EPS of $2.05 to $2.25 on sales of $525 million to $540 million, compared with its previous outlook of adjusted diluted EPS of $2.10 to $2.35 on sales of $530 million to $570 million.

Two analysts surveyed by Capital IQ expect 2024 normalized EPS of $2.27 on revenue of $550.7 million.

The company said the updated guidance includes the anticipated impact from its acquisition of SyQwest, which was completed Monday. CTS said it bought SyQwest for $125 million, net of cash and debt, and contingent consideration.