Sypris Solution Stock Price, News & Analysis

Sypris Solutions (NASDAQ: SYPR) reported Q4 2024 financial results with notable improvements in profitability. The company's gross profit increased 23.1% quarter-over-quarter, with gross margin expanding 350 basis points. Q4 revenue was $33.4 million, with EPS improving to $0.01 from a loss of $0.05 in the prior year.

Sypris Technologies saw a 41.6% surge in gross profit for Q4, benefiting from favorable exchange rates and productivity improvements. Energy product orders rose 8.6% year-to-date. The company's electronics division maintains a strong backlog exceeding $90 million.

For 2025 guidance, Sypris projects revenue between $125-$135 million, gross margin expansion of 150-175 basis points, and expects 10-15% growth in gross profit. The outlook factors in the conversion of certain Mexican facility shipments to a value-add sub-maquiladora basis.

Sypris Solutions (NASDAQ: SYPR) reported strong Q3 2024 results with revenue increasing 6.2% year-over-year to $35.7 million. The company achieved net income of $0.4 million ($0.02 per diluted share), compared to a loss of $0.6 million in the prior year. Sypris Electronics revenue grew 13.6% while Sypris Technologies revenue increased 0.7%. Gross profit surged 48.0% year-over-year, with margin expanding 480 basis points. The company updated its 2024 outlook, expecting 10% revenue growth and a 100-125 basis point increase in gross margin. The backlog at Sypris Electronics exceeds $100 million, supporting growth through 2024 and beyond.

Sypris Solutions, Inc. (Nasdaq/GM: SYPR) has announced key leadership changes effective November 1, 2024. Rebecca R. Eckert, the current Controller, has been appointed as Vice President, Chief Accounting Officer and Controller, serving as the company's principal financial and accounting officer. Mrs. Eckert, a certified public accountant, has been with Sypris since 2005 and will report to CEO Jeffrey T. Gill.

Additionally, Richard L. Davis, currently Vice President and CFO, has been named Senior Vice President, Treasurer and Assistant Secretary. He will succeed Anthony C. Allen, who will transition to Vice President and Assistant Treasurer. These changes reflect Sypris' commitment to internal talent development and financial leadership continuity.

Sypris Solutions (NASDAQ: SYPR) reported its Q2 2024 financial results, showing a stable revenue of $35.5 million and breakeven net income. Highlights include:

- Gross profit up 20.8% year-over-year and 95.6% sequentially
- Sypris Electronics revenue increased 13.6%
- Sypris Technologies gross profit up 35.5% year-over-year
- Total orders up 15.8% year-to-date
- Backlog exceeds $115 million

The company reaffirmed its 2024 outlook, expecting 10-15% revenue growth and 20-25% gross profit increase. Sypris maintains a positive outlook for the second half of 2024, supported by a strong backlog and new program wins.

Sypris Solutions (Nasdaq/GM: SYPR) has appointed Curtis S. Petrie as Vice President of Administration, effective September 1, 2024. Petrie, currently a corporate director, will remain at the company's Louisville, Kentucky headquarters, reporting to CEO Jeffrey T. Gill. With Sypris since 2007, Petrie has held various leadership roles in IT, HR, and Internal Audit. His prior experience includes CIO positions at F+W Media and Lexmark International. Petrie holds a BS in Electrical Engineering from the University of Kentucky and has served on the Robertson County Board of Education. CEO Gill praised Petrie's long history with the company and his leadership in technical matters and business operations.

Sypris Technologies, a subsidiary of Sypris Solutions (NASDAQ: SYPR), has secured a long-term, sole-source extension to its supply agreement with a major global commercial vehicle manufacturer. The contract extends Sypris' provision of Ultra® Axle Shafts for the customer's branded drive axles in medium and heavy-duty trucks.

This extension marks over 25 years of continuous supply to this customer and its subsidiaries. The components are important for the performance of heavy-duty vehicle drive axles. Federico Aviles, VP and GM of Sypris Technologies Mexico, expressed pride in the strategic partnership and anticipates future collaboration opportunities.

Sypris Solutions (Nasdaq: SYPR) has appointed Rachel Ainsworth Brady, Esq. as Senior Corporate Counsel and Secretary, effective July 8, 2024. Based in Louisville, Kentucky, Brady will report to Jeffrey T. Gill, Chairman, President, and CEO of Sypris Solutions.

Brady previously served as Corporate Counsel at American Commercial Barge Line since 2019, having joined the company in 2016 as Associate Corporate Counsel. She has also held positions at Kinetic Vision, Steel Technologies, and Phillips Parker Orberson & Arnett.

Brady holds a Bachelor of Arts in English and a cum laude Juris Doctor from the University of Louisville. Her extensive legal and risk management experience is expected to contribute significantly to Sypris Solutions' growth and profitability.

Sypris Solutions is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries.