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, Inc. (CVU) has secured follow-on orders worth approximately $3.6 million for complex welded structural assemblies for a U.S. military helicopter. Deliveries are expected through mid-2024, reflecting the customer's ongoing confidence in CPI's capabilities in tight tolerance fusion welding and supply chain management. The president and CEO emphasized the company's commitment to the Defense Industrial Base and national security. CPI Aero manufactures assemblies for various aircraft and supplies both commercial and government markets, including being a prime contractor to the U.S. Department of Defense.
CPI Aerostructures (CVU) reported its Q4 2022 and full year 2022 financial results on April 14, 2023.
In Q4, revenue decreased to $24.1 million, down from $26.4 million in Q4 2021, but gross profit increased to $3.9 million from $2.8 million. The gross margin improved to 16.1%, while net income soared to $6.8 million, a significant turnaround from a net loss of $(0.5) million in the same quarter last year.
For 2022, total revenue was $83.3 million, a decline from $103.4 million in 2021, yet net income rose to $9.2 million, up from $6.8 million. The company also reported a decrease in debt from $26.2 million to $22.8 million.
CPI Aerostructures (CVU) has received a $1.8 million contract from an undisclosed aerospace OEM for complex welded fluid tank assemblies. Deliveries are set to begin in 2023 and conclude in 2024. This order reflects customer satisfaction with CPI Aero's performance, highlighting the company's investments in welding capabilities since 2019 that enhanced production quality and throughput. CPI Aero manufactures structural assemblies for fixed wing aircraft and is a Tier 1 supplier to aircraft OEMs and prime contractor to the U.S. Department of Defense.
CPI Aerostructures (CVU) announced a three-year pricing agreement with Collins Aerospace to support the MS-110 Multispectral Airborne Reconnaissance System, valued at approximately $20 million. The agreement includes initial funding of $1.2 million received in Q1 2022. CPI Aero has been involved with the DB-110 Airborne Pods since 2012, and this new contract reinforces their role in integrated airborne structures. CEO Dorith Hakim emphasized the significance of this deal for their growing aerosystems segment.
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