secwatch.observer — SEC 8-K summary
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Issuer:     SYPRIS SOLUTIONS INC (SYPR)
CIK:        0000864240
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001437749-24-026158
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/864240/000143774924026158/0001437749-24-026158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/864240/000143774924026158/sypr20240812_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-026158

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer