secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001157523-23-000852
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sypris Q1 revenue up 23% to $32.3M; net loss $0.2M vs profit year ago
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- Orders rose 74% YoY; backlog hit $131.6M, up 121% from prior year.
- Sypris Electronics revenue +42% to $12.8M; backlog up 125% to $131.6M.
- Sypris Technologies revenue +13.7% to $19.5M; gross margin fell to 13.5% from 18.3% on FX and mix.
- Full-year outlook: revenue growth 25-30%; gross margin expansion of 150-200 bps despite FX headwinds.
- New awards: DoD missile module, U.S. Navy power supply, Detroit Diesel driveline, and UTV drivetrain components.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000115752323000852/0001157523-23-000852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000115752323000852/a53400770.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000852

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer