Welcome to our dedicated page for Sypris Solution news (Ticker: SYPR), a resource for investors and traders seeking the latest updates and insights on Sypris Solution stock.
The SYPR news page on Stock Titan aggregates recent announcements and disclosures from Sypris Solutions Inc, a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries. Investors and analysts can review how developments at Sypris Technologies and Sypris Electronics are reflected in company updates, contract awards, and financial results.
News about Sypris Technologies often covers its role as a manufacturer and supplier of drivetrain and other critical components for commercial and recreational vehicles, automotive, industrial, and energy markets. Releases have highlighted long-term and sole-source agreements with global truck and commercial vehicle manufacturers, including contracts to supply drivetrain components for electrified heavy-duty vehicles and Ultra® axle shafts for branded drive axles.
Updates on Sypris Electronics focus on its work in mission-critical electronic solutions for defense, space, deep sea communications, and industrial customers. Recent items include follow-on awards for electronic warfare improvement programs for the U.S. Navy, secure communications infrastructure for the Army Key Management System, and advanced electronic power supply modules for subsea communication networks and missile avionics.
Quarterly earnings releases filed via Form 8-K are also reflected in the news flow, providing segment revenue breakdowns, commentary on tariffs and macroeconomic conditions, and management’s discussion of backlog trends and demand in markets such as electronic warfare, aircraft and missile avionics, secure and subsea communications, and energy products. Bookmark this page to monitor how new contracts, program milestones, and financial updates may influence the outlook for Sypris Solutions Inc (SYPR).
Sypris Solutions, Inc. (SYPR) will hold a conference call on November 16, 2022, at 9:00 a.m. ET to discuss its financial results and operations. Participants can join by calling (833) 316-0560. The call will also be available live online at www.sypris.com, with a replay starting at 11:00 a.m. that will last 30 days. Key financial and statistical information related to the earnings will be accessible on the company’s website prior to the call, under the 'Investor Information' section.
Sypris Electronics, a subsidiary of Sypris Solutions (NASDAQ: SYPR), announced an amendment to a multi-year supply contract with the U.S. Navy, increasing the potential contract value to
Sypris Technologies, Inc., a subsidiary of Sypris Solutions (NASDAQ: SYPR), has acquired the intellectual property rights for the rapid opening closure (ROC) product line from Pipeline Engineering and Supply Co. Limited in the UK. This acquisition allows Sypris to globally manufacture and sell ROC products in the oil, gas, and petrochemical sectors. The integration of ROC complements Sypris' Tube Turns® brand, enhancing its market reach in Europe, Asia, and the Middle East. The transaction's financial details were not disclosed.
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Sypris Solutions (SYPR) reported a 11.8% year-over-year revenue increase to $29 million for Q2 2022, driven by a 25.6% increase in Sypris Electronics. Backlog surged 77%, with a significant 360% increase in orders year-over-year. However, gross margins decreased by 360 basis points due to a shift in revenue mix and capacity improvement costs. Despite a net loss of $0.6 million, the company maintains its full-year revenue growth outlook of 25-30%. Customer demand remains strong across automotive, defense, and energy sectors.
Sypris Solutions, Inc. (SYPR) will conduct a conference call on August 16, 2022, at 9:00 a.m. ET to discuss its financial results and operational updates. Interested participants can join via telephone by calling (833) 316-0560 approximately 10 minutes before the call. The call will also be broadcasted live online at www.sypris.com, with a replay available for 30 days post-call. The company operates in diversified manufacturing and engineering services across various industries, including defense and transportation.
Sypris Electronics, a subsidiary of Sypris Solutions (NASDAQ: SYPR), has received a multi-year production contract to manufacture power supplies for a U.S. DOD contractor, marking the beginning of full-rate production in 2022. The modules will enhance the navy’s electronic warfare capabilities, allowing for effective missile jamming and countermeasures. This contract continues Sypris’s long-standing support for the U.S. Navy’s critical programs, providing opportunities for cost and size reductions in military applications.
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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.