Sypris Q3 revenue up 33% to $33.6M; net loss narrows; 2024 revenue seen +15-20%

SYPRIS SOLUTIONS INC

2023-Q3 EPS reported -$0.02 revenue$101,488,000

Revenue $33.6M (+33.3% YoY); net loss $0.6M ($0.03/sh) vs $2.2M loss ($0.10/sh) prior.
Sypris Electronics rev +73.5%, margin +710bps to 18.1%; Technologies rev +13.8%, margin +120bps to 7.5%.
Backlog +8.4% YoY; new orders: Atoka pipeline, Venture Global LNG, follow-on stealth aircraft modules.
FY2023 guide: revenue +25% (low end); FY2024 guide: rev +15-20%, gross profit +25-30%, margins +150-200bps.
Mexican peso strength negatively impacted Q3 gross profit by $0.8M YoY.

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 0.95

SYPRIS SOLUTIONS INC reported third quarter ended October 1, 2023 results: revenue $33.6 million, net income net loss of $0.6 million, EPS $0.03 per share.

Period: third quarter ended October 1, 2023
Revenue: $33.6 million
Net income: net loss of $0.6 million
EPS: $0.03 per share
Result: reported results

Exact text from the filing

The Company reported revenue of $33.6 million for the third quarter of 2023, compared to $25.2 million for the prior-year comparable period. Additionally, the Company reported a net loss of $0.6 million, or $0.03 per share, compared to a net loss of $2.2 million, or $0.10 per share for the prior-year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SYPRIS SOLUTIONS INC reported 2024 results: revenue 15-20%. Guidance initiated.

Period: 2024
Revenue: 15-20%
Guidance: initiated
Result: guidance update

Exact text from the filing

Revenue for 2024 is forecast to increase 15-20%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SYPRIS SOLUTIONS INC reported full-year 2023 results: revenue 25% year-over-year. Guidance lowered.

Period: full-year 2023
Revenue: 25% year-over-year
Guidance: lowered
Result: guidance update

Exact text from the filing

The Company updated its full-year outlook for 2023, with revenue now expected to increase 25% year-over-year, at the lower end of our prior guidance due to customer design changes.

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Source: SEC EDGAR

accession 0001157523-23-001736

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