Sypris Solutions Q4 revenue up 17% to $34.7M; net loss $1.1M ($0.05 EPS)

SYPRIS SOLUTIONS INC

2024-Q1 EPS reported -$0.10 revenue$35,553,000

Q4 revenue $34.7M (+16.9% YoY); full-year revenue $136.2M (+23.7%).
Q4 net loss $1.1M ($0.05 EPS) vs net income $0.1M ($0.01 EPS) prior year.
Sypris Electronics revenue +25.2% in Q4 on defense/communications demand; backlog exceeds $115M.
Sypris Technologies revenue +10.8%; gross margin improved to 16.3% from 12.9%.
2024 guidance: revenue up 10-15%, gross profit +20-25%, gross margin +150-175bps.

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 1.0

SYPRIS SOLUTIONS INC reported full-year ended December 31, 2023 results: revenue $136.2 million, net income $1.6 million loss, EPS $0.07 loss per share.

Period: full-year ended December 31, 2023
Revenue: $136.2 million
Net income: $1.6 million loss
EPS: $0.07 loss per share
Result: reported results

Exact text from the filing

For the full-year 2023, the Company reported revenue of $136.2 million compared with $110.1 million for the prior year. The Company reported a net loss of $1.6 million, or $0.07 per share, for 2023 compared with a net loss of $2.5 million, or $0.11 per diluted share, for the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SYPRIS SOLUTIONS INC updated its 2024 guidance (raised).

Period: 2024
Guidance: raised
Result: guidance update

Exact text from the filing

We now expect revenue to increase 10-15% year-over-year as a result of the combined strength of our backlog for Sypris Electronics and increasing orders for our energy products. We also continue to expect to achieve gross margin expansion in the range of 150 to 175 basis points with gross profit forecast to increase 20-25% in 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SYPRIS SOLUTIONS INC reported fourth quarter ended December 31, 2023 results: revenue $34.7 million, net income $1.1 million loss, EPS $0.05 loss per diluted share.

Period: fourth quarter ended December 31, 2023
Revenue: $34.7 million
Net income: $1.1 million loss
EPS: $0.05 loss per diluted share
Result: reported results

Exact text from the filing

The Company reported revenue of $34.7 million for the fourth quarter ended December 31, 2023, compared to $29.7 million for the prior-year comparable period. The Company incurred a net loss of $1.1 million, or $0.05 per diluted share, compared to net income of $0.1 million, or $0.01 per diluted share, for the prior-year period.

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Source: SEC EDGAR

accession 0001437749-24-010167

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