---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-23-000217"
form_type: "8-K"
ticker: "CVU"
cik: "0000889348"
company_name: "CPI AEROSTRUCTURES INC"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T04:26:20.663265+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# CPI Aero Q3 net income falls to $0.3M from $1.9M; gross margin drops to 18.2%

## Summary
- Q3 revenue $20.4M (flat YoY); net income $0.3M vs $1.9M; diluted EPS $0.02 vs $0.15.
- Gross margin 18.2% vs 26.4% due to supply chain challenges and unfavorable mix per CEO.
- Nine-month revenue $63.0M (+6.3%); net income $2.4M; adjusted EPS $0.25 ex-severance.
- Debt reduced to $20.9M from $23.7M; total backlog $503M as of Sept 30, 2023.

## SEC filing metadata
- accession: 0001999371-23-000217
- form_type: 8-K
- ticker: CVU
- cik: 0000889348
- company_name: CPI AEROSTRUCTURES INC
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889348/000199937123000217/0001999371-23-000217-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889348/000199937123000217/cvu-8k_111423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-23-000217
- JSON: https://secwatch.observer/filing/0001999371-23-000217.json
- Plain text: https://secwatch.observer/filing/0001999371-23-000217.txt

## Key facts
- Earnings Releases
  CPI AEROSTRUCTURES INC reported the quarter ended September 30, 2023 results: revenue $20.4 million, net income $0.3 million, EPS $0.02.
  - Period: the quarter ended September 30, 2023
  - Revenue: $20.4 million
  - Net income: $0.3 million
  - EPS: $0.02
  - Result: reported results
  source text: 2 ex99-1.htm PRESS RELEASE CPI AERO 8-K Exhibit 99.1 CPI AEROSTRUCTURES REPORTS THIRD QUARTER AND NINE MONTH 2023 RESULTS Third Quarter 2023 vs. Third Quarter 2022 ● Revenue of $20.4 million compared to $20.2 million; ● Gross profit of $3.7 million compared to $5.3 million; ● Gross margin of 18.2% compared to 26.4%; ● Net income of $0.3 million compared to $1.9
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000199937123000217/0001999371-23-000217-index.htm

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