---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-23-006495"
form_type: "8-K"
ticker: "CVU"
cik: "0000889348"
company_name: "CPI AEROSTRUCTURES INC"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:59:17.202388+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CPI Aerostructures swings to net income of $1.0M in Q1 2023; revenue up 9.5% to $22.0M

## Summary
- Revenue $22.0M (+9.5% YoY); gross margin improved to 21.2% from 17.1%.
- Net income $1.0M ($0.08 EPS) vs net loss of $32,931 in Q1 2022.
- Cash from operations $0.9M vs use of $2.4M a year ago.
- Debt reduced to $22.1M from $22.8M at Dec 31, 2022; backlog $515.8M.
- Credit facility extended to Nov 30, 2024; factory overhead and SG&A lowered.

## SEC filing metadata
- accession: 0001387131-23-006495
- form_type: 8-K
- ticker: CVU
- cik: 0000889348
- company_name: CPI AEROSTRUCTURES INC
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889348/000138713123006495/0001387131-23-006495-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889348/000138713123006495/cvu-8k_051523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-23-006495
- JSON: https://secwatch.observer/filing/0001387131-23-006495.json
- Plain text: https://secwatch.observer/filing/0001387131-23-006495.txt

## Key facts
- Earnings Releases
  CPI AEROSTRUCTURES INC reported first quarter 2023 results: revenue $22.0 million, net income $1.0 million, EPS $0.08.
  - Period: first quarter 2023
  - Revenue: $22.0 million
  - Net income: $1.0 million
  - EPS: $0.08
  - Result: reported results
  source text: · Revenue of $22.0 million compared to $20.1 million; · Gross profit of $4.7 million compared to $3.4 million; · Gross profit margin of 21.2% compared to 17.1%; · Net income of $1.0 million compared to net loss of $(32,931) (excluding a first quarter 2022 $0.8 million severance accrual, the first quarter of 2022 would have been net income of $0.8 million); · Earnings per share of $0.08 compared to loss per share of $(0.00) (excluding a first quarter of 2022 $0.06 per share severance accrual, the first quarter of 2022 would have been $0.06 per share);
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000138713123006495/0001387131-23-006495-index.htm

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