Sypris Q2 revenue flat at $35.5M; gross profit up 21%, backlog tops $115M

SYPRIS SOLUTIONS INC

2024-Q2 EPS reported -$0.10 revenue$71,074,000

Q2 2024 revenue $35.5M flat YoY; gross profit up 20.8% YoY; backlog exceeds $115M.
Sypris Electronics revenue up 13.6% YoY to $17.7M; Sypris Technologies down 11.4% to $17.8M.
Net income breakeven vs $0.2M ($0.01 EPS) in prior-year period.
Reaffirms FY2024 outlook: revenue growth 10-15% YoY, gross profit up 20-25%, margin expansion 100-125 bps.
Post-quarter: Sypris Technologies secured long-term sole-source extension for axle shafts with major commercial vehicle OEM.

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