secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001999371-24-010063
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures Q2 net income up 21.9% to $1.4M, EPS $0.11, adjusted EBITDA $2.6M
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- Q2 revenue $20.8M (flat YoY), gross margin 24.6% (+220 bps), net income $1.4M (+21.9%).
- Adjusted EBITDA $2.6M (+25% YoY) but ops consumed $0.6M cash versus breakeven last year.
- Six-month revenue $39.9M (-6.3% YoY), net income $1.6M (-23.8%), EPS $0.12 vs $0.17.
- Debt reduced $2.4M YoY to $18.9M; Debt-to-Adjusted EBITDA ratio 2.7x, sixth quarter below 3.0.
- Backlog $512M at June 30; CEO cites uptick in RFQs and expects continued program wins.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000199937124010063/0001999371-24-010063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000199937124010063/cvu-8k_081324.htm
  HTML page:      https://secwatch.observer/filing/0001999371-24-010063

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