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.
Sypris Solutions Inc (SYPR) delivers mission-critical components for transportation, energy, and defense sectors through its Sypris Technologies and Sypris Electronics divisions. This news hub provides investors and industry professionals with comprehensive access to corporate announcements, financial updates, and operational developments.
Track official press releases covering quarterly earnings, manufacturing innovations, defense contract awards, and strategic initiatives. Our curated collection includes updates on automotive component production, pipeline infrastructure projects, and aerospace electronics advancements – all essential for understanding SYPR's market position.
Discover timely information on:
• New commercial vehicle component contracts
• Oil & gas pipeline product developments
• Aerospace/defense electronics milestones
• Financial performance reports
• Strategic partnerships and operational updates
Bookmark this page for direct access to verified SYPR news sources, ensuring informed decision-making without promotional bias. Check regularly for updates reflecting the company's dual expertise in precision manufacturing and high-reliability electronics.
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.
Sypris Electronics, a subsidiary of Sypris Solutions (NASDAQ: SYPR), has secured a follow-on award from a U.S. Department of Defense prime contractor to produce electronic power supply modules for a precision-guided anti-ship missile system. This contract will significantly increase production volumes starting in 2022, although financial terms remain undisclosed. This military program enhances capabilities for the U.S. Navy and Air Force, ensuring advanced target detection even in challenging conditions.
Sypris Electronics, a subsidiary of Sypris Solutions (NASDAQ: SYPR), has secured a multi-year contract with a U.S. DOD contractor to produce electronic power supply modules for a critical Navy program. This initiative aims to enhance electronic warfare capabilities, enabling the U.S. Navy to jam incoming missiles effectively. Production volume is set to increase significantly beginning in 2022. The system's software-defined nature allows adaptability to evolving threats, making it a vital component of the Navy's strategic defense efforts.
