What was the decline in earnings per share for CVR in Q1 2022?

Earnings per share for CVR decreased to $.46 in Q1 2022 from $.56 in Q1 2021.

Chicago Rivet & Machine Co. Announces First Quarter Results of Operations

Chicago Rivet & Machine Co. (NYSE American: CVR) reported its Q1 2022 financial results on May 6, 2022.

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Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Rhea-AI Summary

Chicago Rivet & Machine Co. (NYSE American: CVR) reported its Q1 2022 financial results on May 6, 2022. The company achieved net sales of $9,197,696, a slight decrease from $9,304,949 in Q1 2021. Income before income taxes fell to $570,313 from $690,128 year-over-year. Net income also declined to $447,313, compared to $540,128 in the previous year. Earnings per share decreased from $.56 to $.46.

Positive

Net sales remained relatively stable despite a slight decline.
Average common shares outstanding remained unchanged at 966,132.

Negative

Net sales decreased by 1.15% year-over-year.
Income before income taxes dropped by 17.3% compared to Q1 2021.
Net income fell by 17.2%, indicating declining profitability.
Earnings per share decreased by 17.9%, reflecting reduced shareholder returns.

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News Market Reaction – CVR

The recorded move for CVR in the trading session of this news was +1.17%.

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05/06/2022 - 04:45 PM EDT

NAPERVILLE, Ill., May 6, 2022 /PRNewswire/ --L, May 6, 2022. Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the first quarter of 2022 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three Months Ended March 31
	2022	2021
Net sales	$9,197,696	$9,304,949
Income before income taxes	570,313	690,128
Net income	447,313	540,128
Net income per common share	.46	.56
Average common shares outstanding	966,132	966,132

(All figures subject to year-end audit)

View original content:https://www.prnewswire.com/news-releases/chicago-rivet--machine-co-announces-first-quarter-results-of-operations-301541947.html

SOURCE Chicago Rivet & Machine Co.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the Q1 2022 results for CVR?

In Q1 2022, Chicago Rivet reported net sales of $9,197,696, a decrease from $9,304,949 in Q1 2021.

How did CVR's net income change in Q1 2022?

CVR's net income in Q1 2022 was $447,313, down from $540,128 in the same quarter last year.

Did CVR maintain the same number of outstanding shares in Q1 2022?

Yes, the average common shares outstanding remained at 966,132 in Q1 2022.

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