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 Electronics, a subsidiary of Sypris Solutions (SYPR), has secured a follow-on contract from a U.S. DoD prime contractor to produce and test electronic assemblies for a spacecraft program, with production set to begin in 2021. The spacecraft will support crewed missions to destinations like the Moon and Mars, featuring advanced technologies.
Jim Long, VP of Sypris Electronics, expressed enthusiasm about continuing their role in this crucial program, which highlights Sypris's longstanding experience in manufacturing space electronic hardware.
Sypris Solutions reported its fourth quarter and full-year results for 2020, demonstrating resilience amid the COVID-19 pandemic. Despite a 6.3% revenue decline, consolidated gross margin improved to 14.0%, and operating income surged by 102.1% compared to 2019. Sypris Electronics saw a 41.3% revenue increase, reflecting strong backlog and electronic component availability. The company anticipates a 20% revenue growth in 2021, supported by new contract awards in defense, communications, and energy sectors, alongside positive market recovery.
Sypris Solutions, Inc. (SYPR) will host a live webcast of its fourth quarter 2020 financial results on March 18, 2021, at 9:00 a.m. ET. The event will be accessible on the company's website, with a replay available after 11:00 a.m. ET for 30 days. Related presentation materials will be posted beforehand in the 'Investor Information' section of Sypris’ site. The company is recognized for its diversified manufacturing of truck components, oil and gas pipeline components, and aerospace and defense electronics.
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Sypris Technologies, a subsidiary of Sypris Solutions (Nasdaq/GM: SYPR), has secured a contract extension with a leading commercial vehicle manufacturer. This agreement not only maintains existing product lines but also introduces two new axle shaft model lines starting in 2021. The patented Sypris Ultra® series axle shaft reduces drive axle assembly weight by approximately 16 pounds, enhancing braking distances and fuel efficiency. This strategic partnership aims to enhance vehicle performance and competitive advantages in the marketplace.
Sypris Solutions (SYPR) reported Q3 2020 revenue of $22.2 million, nearly flat year-over-year but up 29.2% sequentially. Gross profit surged 47.1% quarter-over-quarter, with EPS rising to $0.17, a turnaround from a loss a year prior. Key drivers included a strong backlog for Sypris Electronics, which saw a 52.6% revenue increase year-over-year. Sypris Technologies, however, faced challenges with a 22.9% decline in revenue year-over-year. The release of a tax valuation allowance contributed significantly to net income. Management remains optimistic about future growth.
Sypris Solutions, Inc. (NASDAQ: SYPR) will host a live webcast of its third quarter 2020 financial results on November 12, 2020, at 9:00 a.m. ET. The online replay will be accessible later that day at 11:00 a.m. ET for 30 days. Interested parties can find related presentation materials on the Company's website. Sypris Solutions specializes in truck components, oil and gas pipeline components, and aerospace and defense electronics, often operating under multi-year contracts.
Sypris Solutions, Inc. (NASDAQ: SYPR) will host an online webcast of its Q2 2020 financial results on August 13, 2020, starting at 9:00 a.m. ET. The live broadcast can be accessed at www.sypris.com. A replay will be available from 11:00 a.m. ET that day for 30 days. The company, which specializes in truck components, oil and gas pipeline components, and defense electronics, will provide related presentation materials in the 'Investor Information' section of its website. Details about its earnings announcement will also be shared there.
Sypris Solutions (NASDAQ: SYPR) will host a real-time webcast of its Q1 2020 financial results conference call on May 20, 2020, starting at 9:00 a.m. ET. The online replay will be available by 11:00 a.m. ET for 30 days. The company's presentation materials will be accessible on its website under the 'Investor Information' section. Sypris Solutions specializes in manufacturing truck components, oil and gas pipeline components, and aerospace and defense electronics, often through long-term contracts.