Welcome to our dedicated page for CPI Aerostructures news (Ticker: CVU), a resource for investors and traders seeking the latest updates and insights on CPI Aerostructures stock.
CPI Aerostructures, Inc. (symbol: CVU) is a prominent U.S. manufacturer specializing in structural assemblies and value-added kits for fixed-wing and rotary-wing aircraft. Serving both the commercial aerospace and defense markets, CPI Aero develops and supplies complex aerostructures for major aircraft OEMs (original equipment manufacturers) and is a significant subcontractor for Tier 1 manufacturers. Additionally, CPI Aero acts as a prime contractor for the U.S. Department of Defense, primarily the Air Force.
The company is recognized for its contributions to several high-profile aircraft programs, including the E-2D Advanced Hawkeye surveillance aircraft, the A-10 Thunderbolt attack jet, the Gulfstream G650, and the UH-60 BLACK HAWK and S-92 helicopters. CPI Aero also manufactures pod-based, airborne avionics systems used in intelligence surveillance and reconnaissance (ISR), electronic warfare (EW), and radar end-markets.
Aside from its manufacturing capabilities, CPI Aero offers a comprehensive suite of services including engineering, program management, supply chain management, and maintenance, repair, and overhaul (MRO) services. The company’s robust engineering and program management expertise ensures efficient production and delivery of high-quality aerostructures to its diverse client base.
In recent news, CPI Aero has increased its funded orders under a previously awarded multi-year contract to $48.3 million, demonstrating its strong market position and ongoing demand for its products. The company’s inclusion in the Russell Microcap® Index underlines its significance in the aerospace supply chain sector.
With a strategic focus on quality and customer satisfaction, CPI Aero continues to expand its capabilities and enhance its product offerings. This positions the company as a reliable and innovative partner in the aerospace industry, catering to both commercial and defense market requirements.
CPI Aerostructures (NYSE American: CVU) announced that Embraer S.A. (NYSE: ERJ) placed additional orders worth $3.1 million for engine inlet assemblies for the Phenom 300 business jets. This extension of a previous Long Term Agreement will see deliveries continue through mid-2025. Earlier this year, CPI Aero delivered its 800th shipset of Phenom 300 Engine Inlets to Embraer. CEO Dorith Hakim highlighted the company's consistent high-quality performance and its strong capabilities in structural assembly and integration within the aerospace industry.
CPI Aerostructures (CVU) has secured $1.3 million in follow-on orders for complex welded structural assemblies, intended for a U.S. military helicopter. These orders come from an existing customer and are scheduled for delivery through mid-2025.
CEO Dorith Hakim noted the company's longstanding role in providing critical components for both fixed and rotary wing aircraft for the U.S. Defense and Allied Forces. The follow-on contract continues CPI Aero's support for military operations.
CPI Aero manufactures structural assemblies for aircraft and airborne systems in the commercial aerospace and national security markets, serving as a Tier 1 or Tier 2 supplier and a prime contractor for the U.S. Department of Defense, primarily the Air Force.
CPI Aerostructures (NYSE American: CVU) reported its financial results for Q1 2024, ending March 31, 2024. Revenue decreased by 13% to $19.1 million compared to $22.0 million in Q1 2023. Gross profit was $3.6 million, down from $4.7 million, leading to a reduced gross profit margin of 18.6%. Net income fell to $0.2 million from $1.0 million, translating to earnings per share (EPS) of $0.01, down from $0.08. Cash flow from operations was negative at ($1.0) million, compared to a positive $0.9 million in Q1 2023. On a positive note, debt was reduced to $19.1 million from $22.1 million year-over-year. CEO Dorith Hakim highlighted the completion of key deliveries for Raytheon's NGJ Mid Band Pods LRIP 2 and the anticipation of resumed deliveries in the second half of the year, alongside a strong backlog of $510 million.
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