---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-22-011567"
form_type: "8-K"
ticker: "CVU"
cik: "0000889348"
company_name: "CPI AEROSTRUCTURES INC"
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T15:28:46.726214+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CPI Aero Q3 revenue falls to $20.2M but gross margin expands to 26.4%; net income $1.9M

## Summary
- Revenue of $20.2M, down from $23.9M YoY; gross profit margin rose to 26.4% from 15.3%.
- Net income $1.9M ($0.15 diluted EPS) compared to $5.4M ($0.44) which included $4.8M PPP forgiveness.
- Cash from operations $2.9M vs $1.2M prior year; debt reduced to $23.7M from $27.1M.
- Total backlog of $501M; company expects first deliveries on new programs within next nine months.

## SEC filing metadata
- accession: 0001387131-22-011567
- form_type: 8-K
- ticker: CVU
- cik: 0000889348
- company_name: CPI AEROSTRUCTURES INC
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/0001387131-22-011567-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/cvu-8k_112122.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-22-011567
- JSON: https://secwatch.observer/filing/0001387131-22-011567.json
- Plain text: https://secwatch.observer/filing/0001387131-22-011567.txt

## Key facts
- Earnings Releases
  CPI AEROSTRUCTURES INC reported Third Quarter 2022 results: revenue $20.2 million, net income $1.9 million, EPS $0.15 per diluted share.
  - Period: Third Quarter 2022
  - Revenue: $20.2 million
  - Net income: $1.9 million
  - EPS: $0.15 per diluted share
  - Result: reported results
  source text: Third Quarter 2022 vs. Third Quarter 2021 ● Revenue of $20.2 million compared to $23.9 million; ● Gross profit of $5.3 million compared to $3.7 million; ● Gross margin of 26.4% compared to 15.3%; ● Net income of $1.9 million compared to $5.4 million ($0.6 million excluding $4.8 million in PPP loan forgiveness); ● Earnings per diluted share of $0.15 compared to $0.44 ($0.05 excluding $0.39 in PPP loan forgiveness); ● Cash flow from operations of $2.9 million compared to $1.2 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/0001387131-22-011567-index.htm
- Earnings Releases
  CPI AEROSTRUCTURES INC reported Nine Months 2022 results: revenue $59.3 million, net income $2.3 million, EPS $0.19 per diluted share.
  - Period: Nine Months 2022
  - Revenue: $59.3 million
  - Net income: $2.3 million
  - EPS: $0.19 per diluted share
  - Result: reported results
  source text: Nine Months 2022 vs. Nine Months 2021 ● Revenue of $59.3 million compared to $77.0 million; ● Gross profit of $12.4 million compared to $12.2 million; ● Gross margin of 21.0% compared to 15.8%; ● Net income of $2.3 million ($3.1 million excluding the first quarter severance accrual of $0.8 million) compared to $7.3 million ($2.5 million excluding $4.8 million in PPP loan forgiveness); ● Earnings per diluted share of $0.19 ($0.25 excluding the first quarter severance accrual of $0.06) compared to $0.60 ($0.21 excluding $0.39 in PPP loan forgiveness); ● Cash flow from operations of $0.8 million compared to a use of $(1.3) million; ● Debt as of September 30, 2022 of $23.7 million c ompared to $27.1 million as of September 30, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000138713122011567/0001387131-22-011567-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.