Sypris Q2 revenue +23% to $35.6M; EPS $0.01 vs -$0.03; backlog +26%

SYPRIS SOLUTIONS INC

2023-Q2 EPS reported $0.00 revenue$67,907,000

Revenue $35.6M, net income $0.2M ($0.01 diluted EPS) vs net loss $0.6M (-$0.03) a year ago.
Sypris Electronics revenue +40% to $15.6M; Sypris Technologies +12% to $20.1M.
Backlog increased 25.5% YoY; Electronics backlog +25%, Technologies energy products +38%.
FY 2023 revenue growth 25-30% reaffirmed; gross margin expansion guidance cut to 75-125 bps due to Mexican peso.
New awards: U.S. Navy power modules, UTV drivetrain components, Atoka pipeline, Venture Global LNG closures.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

SYPRIS SOLUTIONS INC reported second quarter ended July 2, 2023 results: revenue $35.6 million, net income $0.2 million, EPS $0.01 per diluted share. Guidance reaffirmed.

Period: second quarter ended July 2, 2023
Revenue: $35.6 million
Net income: $0.2 million
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Company reported revenue of $35.6 million for the second quarter of 2023, compared to $29.0 million for the prior-year comparable period. Additionally, the Company reported net income of $0.2 million, or $0.01 per diluted share, compared to a net loss of $0.6 million, or $0.03 per share for the prior-year period.

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Source: SEC EDGAR

accession 0001157523-23-001329

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