secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0001999371-23-000217
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000199937123000217/0001999371-23-000217-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000199937123000217/cvu-8k_111423.htm
  HTML page:      https://secwatch.observer/filing/0001999371-23-000217

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