secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001999371-24-014677
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures Q3 net income up 149% to $0.7M; gross margin 21.7%
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- Revenue $19.4M (down 5% YoY); gross profit $4.2M; net income $0.7M ($0.06 EPS) vs $0.3M ($0.02 EPS).
- Gross margin 21.7% vs 18.2% (350 bps improvement) on improved product mix and efficiencies.
- Adjusted EBITDA $1.7M, up 15.6% from $1.4M; operating cash flow $0.7M vs $0.0M.
- Debt reduced to $18.2M from $20.9M; Debt-to-Adjusted EBITDA ratio 2.5, seventh consecutive quarter below 3.0.
- Received L3Harris award for Next Generation Jammer Low Band Pod; backlog $506M as of Sep 30, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000199937124014677/0001999371-24-014677-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000199937124014677/cvu-8k_111324.htm
  HTML page:      https://secwatch.observer/filing/0001999371-24-014677

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