---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-24-006173"
form_type: "8-K"
ticker: "CVU"
cik: "0000889348"
company_name: "CPI AEROSTRUCTURES INC"
filed_at: "2024-05-16T23:59:59+00:00"
generated_at: "2026-06-01T22:20:57.318679+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CPI Aero Q1 2024 revenue $19.1M, down 13% YoY; net income $0.2M, EPS $0.01

## Summary
- Revenue $19.1M, down from $22.0M in Q1 2023, driven by completion of NGJ Mid Band Pod LRIP 2 deliveries.
- Gross profit $3.6M (18.6% margin) vs $4.7M (21.2%); 260 bps decline on unfavorable mix.
- Net income $0.2M ($0.01 EPS) vs $1.0M ($0.08 EPS) a year earlier.
- Cash used in operations ($1.0M) vs $0.9M provided in Q1 2023; debt reduced to $19.1M from $22.1M.
- Backlog remains strong at $510M as of March 31, 2024; expects LRIP 3 deliveries to resume H2 2024.

## SEC filing metadata
- accession: 0001999371-24-006173
- form_type: 8-K
- ticker: CVU
- cik: 0000889348
- company_name: CPI AEROSTRUCTURES INC
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889348/000199937124006173/0001999371-24-006173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889348/000199937124006173/cvu-8k_051524.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-24-006173
- JSON: https://secwatch.observer/filing/0001999371-24-006173.json
- Plain text: https://secwatch.observer/filing/0001999371-24-006173.txt

## Key facts
- Earnings Releases
  CPI AEROSTRUCTURES INC reported the quarter ended March 31, 2024 results: revenue $19.1 million, net income $0.2 million, EPS $0.01.
  - Period: the quarter ended March 31, 2024
  - Revenue: $19.1 million
  - Net income: $0.2 million
  - EPS: $0.01
  - Result: reported results
  source text: DATED MAY 15, 2024. CPI AEROSTRUCTURES, INC. 8-K Exhibit 99.1 CPI AEROSTRUCTURES REPORTS FIRST QUARTER 2024 RESULTS First Quarter 2024 vs. First Quarter 2023 · Revenue of $19.1 million compared to $22.0 million; · Gross profit of $3.6 million compared to $4.7 million; · Gross profit margin of 18.6% compared to 21.2%; · Net income of $0.2 million compared to
  evidence_url: https://www.sec.gov/Archives/edgar/data/889348/000199937124006173/0001999371-24-006173-index.htm

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