Cpi Aerostruct Stock Price, News & Analysis

CPI Aerostructures, Inc. (CVU) has secured follow-on orders worth approximately $3.6 million for complex welded structural assemblies for a U.S. military helicopter. Deliveries are expected through mid-2024, reflecting the customer's ongoing confidence in CPI's capabilities in tight tolerance fusion welding and supply chain management. The president and CEO emphasized the company's commitment to the Defense Industrial Base and national security. CPI Aero manufactures assemblies for various aircraft and supplies both commercial and government markets, including being a prime contractor to the U.S. Department of Defense.

CPI Aerostructures (CVU) reported its Q4 2022 and full year 2022 financial results on April 14, 2023.
In Q4, revenue decreased to $24.1 million, down from $26.4 million in Q4 2021, but gross profit increased to $3.9 million from $2.8 million. The gross margin improved to 16.1%, while net income soared to $6.8 million, a significant turnaround from a net loss of $(0.5) million in the same quarter last year.
For 2022, total revenue was $83.3 million, a decline from $103.4 million in 2021, yet net income rose to $9.2 million, up from $6.8 million. The company also reported a decrease in debt from $26.2 million to $22.8 million.

CPI Aerostructures (CVU) has received a $1.8 million contract from an undisclosed aerospace OEM for complex welded fluid tank assemblies. Deliveries are set to begin in 2023 and conclude in 2024. This order reflects customer satisfaction with CPI Aero's performance, highlighting the company's investments in welding capabilities since 2019 that enhanced production quality and throughput. CPI Aero manufactures structural assemblies for fixed wing aircraft and is a Tier 1 supplier to aircraft OEMs and prime contractor to the U.S. Department of Defense.

CPI Aerostructures (CVU) announced a three-year pricing agreement with Collins Aerospace to support the MS-110 Multispectral Airborne Reconnaissance System, valued at approximately $20 million. The agreement includes initial funding of $1.2 million received in Q1 2022. CPI Aero has been involved with the DB-110 Airborne Pods since 2012, and this new contract reinforces their role in integrated airborne structures. CEO Dorith Hakim emphasized the significance of this deal for their growing aerosystems segment.

CPI Aerostructures (CVU) has secured a five-year IDIQ contract from Sikorsky, a Lockheed Martin company, for the manufacture of gunner window assemblies for the UH-60M Black Hawk helicopter. Shipments are anticipated to start in 2023 and continue until 2027. This contract marks the third consecutive multi-year agreement for CPI Aero, reflecting its long-standing relationship with Sikorsky. The company has been producing these components since 2010, showcasing its ongoing commitment and performance in the defense aerospace sector.

CPI Aerostructures, Inc. (CVU) has announced new orders from Embraer S.A. for engine inlet assemblies for the Phenom 300 business jets, part of an ongoing Long Term Agreement. Deliveries are scheduled to continue through 2023. CPI Aero has been part of the Phenom 300 program for over a decade, emphasizing the strong demand for these aircraft. CEO Dorith Hakim expressed confidence in maintaining their partnership with Embraer beyond 2023.