Sypris Solution Stock Price, News & Analysis

Sypris Electronics has secured a multimillion-dollar follow-on contract from a U.S. defense contractor to manufacture advanced electronic warfare avionics for a major government program. Production is set to commence in 2022. This contract supports an all-weather stealth multirole combat aircraft intended for air superiority and strike missions, projected to be in operation until 2070. Sypris will develop modules for the aircraft's Communications, Navigation, and Identification systems, enhancing situational awareness and battlefield effectiveness.

Sypris Solutions, Inc. (SYPR) reported a remarkable 30.9% increase in revenue for Q1 2022, reaching $26.2 million, compared to $20.0 million in the previous year. Gross profit surged by 148.3% to $3.9 million, with gross margins expanding to 17.2%. Significant new contracts in both Sypris Electronics and Sypris Technologies are expected to enhance growth. The company reaffirmed its 2022 outlook, anticipating 25-30% revenue growth and continued improvements in cash flow and margins. Earnings rose to $0.01 per diluted share from a loss of $0.08 a year ago.

Sypris Solutions, Inc. (NASDAQ: SYPR) announced a conference call scheduled for May 18, 2022, at 9:00 a.m. ET to discuss its financial results and operations. Participants can join the call by dialing (833) 316-0560. The call will also be streamed live online, with a replay available for 30 days following the event. Sypris specializes in truck components, oil and gas pipeline components, and aerospace and defense electronics, often securing multi-year, sole-source contracts. For more details, visit www.sypris.com.

Sypris Technologies, Inc., a subsidiary of Sypris Solutions (Nasdaq: SYPR), has secured a multi-year contract extension to supply drivetrain components for medium and heavy-duty commercial vehicles from a major global equipment manufacturer. This contract extension is well-timed as the commercial vehicle market undergoes significant expansion, with production growth of 23.4% reported in 2021 and an expected 11.9% and 21.6% increase for 2022 and 2023, respectively. Manufacturing will take place in Toluca, Mexico, supporting long-term relationships with key clients.

Sypris Solutions (SYPR) reported strong financial growth for Q4 and full-year 2021. Revenue increased by 25.2% YoY to $25.8 million, and gross profit surged by 65.1%, leading to a gross margin increase of 420 basis points to 17.1%. Earnings per share rose 133.3% to $0.02. The year-end backlog expanded by 56.8%, supported by significant contract wins in electronics and technologies. The 2022 outlook has been raised, with revenue expected to rise 25-30% and gross margins to increase by 200-250 basis points. Overall, the company is well-positioned for growth.

Sypris Solutions has announced the appointment of Richard L. Davis as Vice President & Chief Financial Officer, effective October 12, 2022. Davis, who has extensive experience within the company since 1985, will succeed Anthony C. Allen, who transitions to Vice President and Treasurer. The leadership change is expected to occur seamlessly, with both executives having collaborated for nearly 40 years. Sypris, based in Louisville, Kentucky, specializes in manufacturing truck components, oil and gas pipeline components, and aerospace and defense electronics.

Sypris Solutions, Inc. (NASDAQ/GM: SYPR) will host a quarterly conference call on March 17, 2022, at 9:00 a.m. ET to discuss its financial performance and operational updates. Participants can join via telephone by calling (833) 316-0560. The live audio webcast will also be accessible on Sypris' official website, with an online replay available for 30 days post-call. The company specializes in manufacturing truck components, oil and gas pipeline components, and aerospace and defense electronics, often through sole-source contracts.

Sypris Technologies, a subsidiary of Sypris Solutions (Nasdaq: SYPR), has secured a long-term contract extension to supply drivetrain components for medium and heavy-duty commercial vehicles, starting shipments in Q1 2022. Additionally, the company was awarded a program for side-by-side all-terrain vehicles, with production set for 2023. The commercial vehicle market is expected to grow significantly, with heavy-duty vehicle production increasing by 23.4% in 2021 and projected growth of 13.4% and 21.1% for 2022 and 2023, respectively.