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Sypris Reports Third Quarter Results

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Sypris Solutions (NASDAQ: SYPR) reported strong Q3 2024 results with revenue increasing 6.2% year-over-year to $35.7 million. The company achieved net income of $0.4 million ($0.02 per diluted share), compared to a loss of $0.6 million in the prior year. Sypris Electronics revenue grew 13.6% while Sypris Technologies revenue increased 0.7%. Gross profit surged 48.0% year-over-year, with margin expanding 480 basis points. The company updated its 2024 outlook, expecting 10% revenue growth and a 100-125 basis point increase in gross margin. The backlog at Sypris Electronics exceeds $100 million, supporting growth through 2024 and beyond.

Sypris Solutions (NASDAQ: SYPR) ha riportato risultati solidi per il terzo trimestre del 2024, con un aumento del fatturato del 6,2% rispetto all'anno precedente, raggiungendo i 35,7 milioni di dollari. L'azienda ha realizzato un utile netto di 0,4 milioni di dollari (0,02 dollari per azione diluita), rispetto a una perdita di 0,6 milioni di dollari nell'anno precedente. I ricavi di Sypris Electronics sono aumentati del 13,6%, mentre i ricavi di Sypris Technologies sono aumentati dello 0,7%. L'utile lordo è aumentato del 48,0% su base annua, con un incremento del margine di 480 punti base. L'azienda ha aggiornato le sue previsioni per il 2024, prevedendo una crescita del fatturato del 10% e un aumento del margine lordo di 100-125 punti base. L'ordine accumulato di Sypris Electronics supera i 100 milioni di dollari, supportando la crescita fino al 2024 e oltre.

Sypris Solutions (NASDAQ: SYPR) reportó resultados sólidos para el tercer trimestre de 2024, con ingresos que aumentaron un 6,2% interanual, alcanzando los 35,7 millones de dólares. La compañía logró un ingreso neto de 0,4 millones de dólares (0,02 dólares por acción diluida), en comparación con una pérdida de 0,6 millones de dólares en el año anterior. Los ingresos de Sypris Electronics crecieron un 13,6%, mientras que los ingresos de Sypris Technologies aumentaron un 0,7%. La ganancia bruta se disparó un 48,0% interanual, con un margen que se ampliará en 480 puntos base. La compañía actualizó sus perspectivas para 2024, esperando un crecimiento del 10% en los ingresos y un aumento de 100-125 puntos base en el margen bruto. La cartera de pedidos de Sypris Electronics supera los 100 millones de dólares, respaldando el crecimiento a lo largo de 2024 y más allá.

Sypris Solutions (NASDAQ: SYPR)는 2024년 3분기 실적을 발표하며 매출이 전년 대비 6.2% 증가한 3,570만 달러를 기록했다고 밝혔습니다. 회사는 40만 달러(희석 주당 0.02 달러)의 순이익을 달성했으며, 이는 지난 해 60만 달러의 손실과 비교되는 수치입니다. Sypris Electronics의 매출은 13.6% 증가하였고, Sypris Technologies의 매출은 0.7% 증가했습니다. 총 이익은 전년 대비 48.0% 급증했으며, 마진은 480 베이시스 포인트 확대되었습니다. 회사는 2024년 전망을 업데이트하여 매출 성장률 10%와 총 마진 증가 100-125 베이시스 포인트를 기대하고 있습니다. Sypris Electronics의 백로그는 1억 달러를 초과하며, 2024년 및 그 이후의 성장을 지원하고 있습니다.

Sypris Solutions (NASDAQ: SYPR) a annoncé de solides résultats pour le troisième trimestre 2024, le chiffre d'affaires ayant augmenté de 6,2 % d'une année sur l'autre pour atteindre 35,7 millions de dollars. L'entreprise a réalisé un bénéfice net de 0,4 million de dollars (0,02 dollar par action diluée), contre une perte de 0,6 million de dollars l'année précédente. Le chiffre d'affaires de Sypris Electronics a augmenté de 13,6 %, tandis que le chiffre d'affaires de Sypris Technologies a progressé de 0,7 %. Le bénéfice brut a bondi de 48,0 % d'une année sur l'autre, le taux de marge s'étendent de 480 points de base. La société a mis à jour ses prévisions pour 2024, s'attendant à une croissance du chiffre d'affaires de 10 % et à une augmentation de la marge brute de 100 à 125 points de base. Le carnet de commandes de Sypris Electronics dépasse les 100 millions de dollars, soutenant la croissance jusqu'en 2024 et au-delà.

Sypris Solutions (NASDAQ: SYPR) berichtete über starke Ergebnisse im dritten Quartal 2024, mit einem Umsatzanstieg von 6,2% im Jahresvergleich auf 35,7 Millionen Dollar. Das Unternehmen erzielte einen Nettogewinn von 0,4 Millionen Dollar (0,02 Dollar pro verwässerter Aktie), im Vergleich zu einem Verlust von 0,6 Millionen Dollar im Vorjahr. Der Umsatz von Sypris Electronics wuchs um 13,6%, während der Umsatz von Sypris Technologies um 0,7% zulegte. Der Bruttogewinn stieg um 48,0% im Jahresvergleich, während die Marge um 480 Basispunkte ausgeweitet wurde. Das Unternehmen hat seinen Ausblick für 2024 aktualisiert und erwartet ein Umsatzwachstum von 10% sowie einen Anstieg der Bruttomarge um 100-125 Basispunkte. Der Auftragsbestand von Sypris Electronics übersteigt 100 Millionen Dollar und unterstützt das Wachstum bis 2024 und darüber hinaus.

Positive
  • Revenue increased 6.2% YoY to $35.7 million
  • Turned profitable with EPS of $0.02 vs loss of $0.03 in prior year
  • Gross profit increased 48.0% YoY with 480 basis points margin expansion
  • Sypris Electronics revenue grew 13.6% YoY
  • Backlog exceeds $100 million at Sypris Electronics
  • Secured long-term sole-source agreement extension for Ultra® Axle Shafts
  • Orders up 6.5% for the quarter and 13.4% year-to-date
Negative
  • Revenue guidance reduced to 10% growth, at lower end of previous guidance
  • Sypris Electronics experienced temporary production delays on three programs
  • Nine-month net loss of $1.8 million vs $0.5 million loss in prior year
  • Sypris Electronics gross margin declined to 14.3% from 18.1% YoY

Insights

Sypris Solutions demonstrates mixed financial performance in Q3 2024. Revenue increased 6.2% year-over-year to $35.7 million, with notable growth in the Electronics segment (13.6%). The company achieved profitability with EPS of $0.02 compared to a loss of $0.03 in the prior year.

Key positives include gross margin expansion of 480 basis points and strong order growth (13.4% YTD). However, the lowered full-year revenue guidance to 10% growth signals some operational challenges, particularly with production delays in Electronics programs. The $100+ million backlog provides revenue visibility but execution will be crucial.

The diversification strategy in Technologies segment is helping offset cyclical commercial vehicle market weakness, while Electronics segment's secured funding mitigates supply chain risks. Margin improvement targets of 100-125 basis points remain unchanged despite revenue guidance reduction.

Gross Profit Up 48%; Revenue, EPS And Orders Rise

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Solutions, Inc. (Nasdaq/GM: SYPR) today reported financial results for its third quarter ended September 29, 2024.

HIGHLIGHTS

  • Revenue for the quarter increased 6.2% year-over-year, driven by a 13.6% increase for Sypris Electronics and a 0.7% increase for Sypris Technologies. Orders were up 6.5% for the quarter and 13.4% year-to-date, reflecting positive growth for both businesses.
  • Gross profit for the Company increased 48.0% from the prior-year period and increased 6.0% sequentially, while gross margin expanded 480 basis points and 90 basis points, respectively.
  • EPS increased to $0.02 per diluted share, up from a loss of $0.03 per diluted share for the prior-year quarter, and up from $0.00 per diluted share sequentially.
  • Revenue for Sypris Electronics increased 13.6%, reflecting the positive impact of recently announced contracts with customers serving the markets for electronic warfare, subsea communications, and aircraft and missile avionics. Orders are up 14.2% year-to-date.
  • Gross profit for Sypris Technologies surged 150.9% year-over-year and 34.6% sequentially, while gross margin expanded 1,130 basis points and 360 basis points, respectively. Orders for energy products are up 11.8% year-to-date.
  • During the quarter, Sypris Technologies announced that it entered into a long-term sole-source extension to its current supply agreement with one of the world’s largest commercial vehicle manufacturers. The agreement provides for a continuation of Sypris’ Ultra® Axle Shafts for use in the assemblies of the customer’s branded drive axles for medium and heavy-duty trucks.
  • The Company updated its full-year outlook for 2024, with revenue now expected to increase 10% year-over-year, at the lower end of our prior guidance due to temporary production delays on three of our Sypris Electronics programs during the year. We continue to expect a 100-125 basis point increase in gross margin.

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“We were pleased with the year-over-year revenue growth at Sypris Electronics,” commented Jeffrey T. Gill, President and Chief Executive Officer. “The backlog at Sypris Electronics exceeds $100 million and is expected to support growth through the remainder of 2024 and beyond. Customer funding has already been secured for a significant portion of these key programs, which enables us to procure inventory under multi-year purchase orders to mitigate future supply chain issues.

“Demand from Sypris Technologies customers serving the automotive, commercial vehicle, sport utility and off-highway markets has remained relatively stable, with new product line shipments offsetting the anticipated cyclical decline for the commercial vehicle market. We believe that the market diversification Sypris Technologies has accomplished over recent years by adding new programs in the automotive, sport-utility and off-highway markets will help offset some of this decline.

“Orders for our energy products increased during the period, and additional opportunities for growth may exist with new global projects in support of increasing LNG demand. We are also actively pursuing applications for our products in adjacent markets including CO2 capture to further diversify our industry and customer portfolios.”

Third Quarter Results

The Company reported revenue of $35.7 million for the third quarter of 2024, compared to $33.6 million for the prior-year comparable period. Additionally, the Company reported net income of $0.4 million, or $0.02 per diluted share, compared with a net loss of $0.6 million, or $0.03 per diluted share, for the prior-year period.

For the nine months ended September 29, 2024, the Company reported revenue of $106.7 million compared to $101.5 million for the first nine months of 2023. The Company reported a net loss of $1.8 million compared with a loss of $0.5 million for the prior-year period.

Sypris Technologies

Revenue for Sypris Technologies was $19.5 million in the third quarter of 2024 compared to $19.3 million for the prior-year period, reflecting strong energy shipments during the period, partially offset by the anticipated cyclical decline in the commercial vehicle market. Gross profit for the third quarter of 2024 was $3.7 million, or 18.8% of revenue, compared to $1.5 million, or 7.5% of revenue, for the same period in 2023. Gross profit for the third quarter of 2024 benefited from a favorable mix and favorable exchange rates.

Sypris Electronics

Revenue for Sypris Electronics was $16.2 million in the third quarter of 2024 compared to $14.2 million for the prior-year period. Increased shipments for a follow-on program contributed to the growth over the prior-year comparable period. Gross profit for the third quarter of 2024 was $2.3 million, or 14.3% of revenue, compared to $2.6 million, or 18.1% of revenue, for the same period in 2023 primarily due to additional labor and overhead costs incurred on programs that recently ramped production and an unfavorable mix.

Outlook

Commenting on the future, Mr. Gill added, “Demand from customers serving the markets for electronic warfare, aircraft and missile avionics, secure and subsea communications, and ground-based radar remain robust, while the outlook for the energy market continues to move in the right direction. Similarly, demand from customers serving the automotive, commercial vehicle and sport utility markets remains healthy despite the anticipated cyclical decline in the commercial vehicle market.

“With a strong backlog, new program wins, and long-term contract extensions in place, we are confident that the remainder of 2024 has the potential to be very positive for Sypris. We have updated our outlook for 2024 to include a 10% growth in the top line, which is at the lower end of our previous guidance. We continue to expect a 100-125 basis point increase in margin.”

About Sypris Solutions

Sypris Solutions is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

Forward Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the fees, costs and supply of, or access to, debt, equity capital, or other sources of liquidity; our failure to achieve and maintain profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources or require us to sell assets to fund operating losses; volatility of our customers’ forecasts and our contractual obligations to meet current scheduling demands and production levels, which may negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; the termination or non-renewal of existing contracts by customers; dependence on, retention or recruitment of key employees and highly skilled personnel and distribution of our human capital; risks of foreign operations, including foreign currency exchange rate risk exposure, which could impact our operating results; cost, quality and availability or lead times of raw materials such as steel, component parts (especially electronic components), natural gas or utilities including increased cost relating to inflation; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of inflation, tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; unanticipated or uninsured product liability claims, disasters, public health crises, losses or business risks; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; our reliance on a few key customers, third party vendors and sub-suppliers; significant delays or reductions due to a prolonged continuing resolution or U.S. government shutdown reducing the spending on products and services that Sypris Electronics provides; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; the costs and supply of insurance on acceptable terms and with adequate coverage; breakdowns, relocations or major repairs of machinery and equipment, especially in our Toluca Plant; the costs of compliance with our auditing, regulatory or contractual obligations; pension valuation, health care or other benefit costs; our reliance on revenues from customers in the oil and gas and automotive markets, with increasing consumer pressure for reductions in environmental impacts attributed to greenhouse gas emissions and increased vehicle fuel economy; our failure to successfully win new business or develop new or improved products or new markets for our products; war, geopolitical conflict, terrorism, or political uncertainty, or disruptions resulting from the Russia-Ukraine war or the Israel and Gaza conflict, including arising out of international sanctions, foreign currency fluctuations and other economic impacts; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; labor relations; strikes; union negotiations; disputes or litigation involving governmental, supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; failure to adequately insure or to identify product liability, environmental or other insurable risks; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property rights from potential competitors or fully exploit such rights which could materially affect our ability to compete in our chosen markets; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; cyber security threats and disruptions, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which may become more pronounced in the event of geopolitical conflicts and other uncertainties, such as the conflict in Ukraine; the cost and availability of full-time accounting personnel with technical accounting knowledge to execute, review and approve all aspects of the financial statement close and reporting process; our ability to maintain compliance with the Nasdaq listing standards minimum closing bid price; risks related to owning our common stock, including increased volatility; possible public policy response to a public health emergency, including U. S or foreign government legislation or restrictions that may impact our operations or supply chain; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

 
 

SYPRIS SOLUTIONS, INC.

Financial Highlights

(In thousands, except per share amounts)

 

 

 

 

 

 

 

Three Months Ended

 

 

September 29,

 

October 1,

 

 

2024

 

2023

(Unaudited)
Revenue

$

35,657

 

$

33,581

 

Net income (loss)

$

390

 

$

(555

)

Income (loss) per common share:
Basic

$

0.02

 

$

(0.03

)

Diluted

$

0.02

 

$

(0.03

)

Weighted average shares outstanding:
Basic

 

22,088

 

 

21,880

 

Diluted

 

22,415

 

 

21,880

 

 

Nine Months Ended

September 29,

 

October 1,

2024

 

2023

(Unaudited)
Revenue

$

106,731

 

$

101,488

 

Net loss

$

(1,815

)

$

(517

)

Loss per common share:
Basic

$

(0.08

)

$

(0.02

)

Diluted

$

(0.08

)

$

(0.02

)

Weighted average shares outstanding:
Basic

 

22,011

 

 

21,848

 

Diluted

 

22,011

 

 

21,848

 

 
 
 

Sypris Solutions, Inc.

Consolidated Statements of Operations

(in thousands, except for per share data)

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 29,

 

October 1,

 

September 29,

 

October 1,

 

 

2024

 

2023

 

2024

 

2023

(Unaudited)

(Unaudited)

Net revenue:
Sypris Technologies

$

19,469

$

19,337

 

$

55,660

 

$

58,895

 

Sypris Electronics

 

16,188

 

14,244

 

 

51,071

 

 

42,593

 

Total net revenue

 

35,657

 

33,581

 

 

106,731

 

 

101,488

 

Cost of sales:
Sypris Technologies

 

15,808

 

17,878

 

 

47,229

 

 

52,790

 

Sypris Electronics

 

13,870

 

11,663

 

 

44,998

 

 

35,827

 

Total cost of sales

 

29,678

 

29,541

 

 

92,227

 

 

88,617

 

Gross profit:
Sypris Technologies

 

3,661

 

1,459

 

 

8,431

 

 

6,105

 

Sypris Electronics

 

2,318

 

2,581

 

 

6,073

 

 

6,766

 

Total gross profit

 

5,979

 

4,040

 

 

14,504

 

 

12,871

 

Selling, general and administrative

 

4,250

 

4,170

 

 

12,876

 

 

11,619

 

Operating income (loss)

 

1,729

 

(130

)

 

1,628

 

 

1,252

 

Interest expense, net

 

546

 

127

 

 

1,468

 

 

531

 

Other expense, net

 

246

 

199

 

 

781

 

 

783

 

Income (loss) before taxes

 

937

 

(456

)

 

(621

)

 

(62

)

Income tax expense, net

 

547

 

99

 

 

1,194

 

 

455

 

Net income (loss)

$

390

$

(555

)

$

(1,815

)

$

(517

)

Income (loss) per common share:
Basic

$

0.02

$

(0.03

)

$

(0.08

)

$

(0.02

)

Diluted

$

0.02

$

(0.03

)

$

(0.08

)

$

(0.02

)

Dividends declared per common share

$

-

$

-

 

$

-

 

$

-

 

Weighted average shares outstanding:
Basic

 

22,088

 

21,880

 

 

22,011

 

 

21,848

 

Diluted

 

22,415

 

21,880

 

 

22,011

 

 

21,848

 

 

 

 

 

 

 

 

 

 

Sypris Solutions, Inc.

Consolidated Balance Sheets

(in thousands, except for share data)

 

 

 

 

 

September 29,

 

December 31,

 

2024

 

2023

 

(Unaudited)

 

(Note)

ASSETS

Current assets:

 

 

 

Cash and cash equivalents

$

8,215

 

 

$

7,881

 

Accounts receivable, net

 

12,373

 

 

 

8,929

 

Inventory, net

 

67,333

 

 

 

77,314

 

Other current assets

 

11,457

 

 

 

9,743

 

Total current assets

 

99,378

 

 

 

103,867

 

Property, plant and equipment, net

 

13,914

 

 

 

17,133

 

Operating lease right-of-use assets

 

4,012

 

 

 

3,309

 

Other assets

 

4,309

 

 

 

5,033

 

Total assets

$

121,613

 

 

$

129,342

 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

 

 

 

Accounts payable

$

22,630

 

 

$

26,737

 

Accrued liabilities

 

50,813

 

 

 

56,232

 

Operating lease liabilities, current portion

 

882

 

 

 

1,068

 

Finance lease obligations, current portion

 

1,467

 

 

 

1,327

 

Equipment financing obligations, current portion

 

522

 

 

 

618

 

Working capital line of credit

 

500

 

 

 

500

 

Note payable - related party, current portion

 

2,000

 

 

 

-

 

Total current liabilities

 

78,814

 

 

 

86,482

 

 

 

 

 

Operating lease liabilities, net of current portion

 

3,552

 

 

 

2,642

 

Finance lease obligations, net of current portion

 

1,133

 

 

 

1,852

 

Equipment financing obligations, net of current portion

 

959

 

 

 

1,333

 

Note payable - related party, net of current portion

 

6,984

 

 

 

6,484

 

Other liabilities

 

11,999

 

 

 

8,082

 

Total liabilities

 

103,441

 

 

 

106,875

 

Stockholders’ equity:

 

 

 

Preferred stock, par value $0.01 per share, 975,150 shares authorized; no shares issued

 

-

 

 

 

-

 

Series A preferred stock, par value $0.01 per share, 24,850 shares authorized; no shares issued

 

-

 

 

 

-

 

Common stock, non-voting, par value $0.01 per share, 10,000,000 shares authorized; no shares issued

 

-

 

 

 

-

 

Common stock, par value $0.01 per share, 30,000,000 shares authorized; 23,041,523 shares issued and 23,022,010 outstanding in 2024 and 22,465,485 shares issued and 22,459,649 outstanding in 2023

 

230

 

 

 

224

 

Additional paid-in capital

 

156,772

 

 

 

156,242

 

Accumulated deficit

 

(118,747

)

 

 

(116,932

)

Accumulated other comprehensive loss

 

(20,083

)

 

 

(17,067

)

Treasury stock, 19,513 in 2024 and 5,835 in 2023

 

-

 

 

 

-

 

Total stockholders’ equity

 

18,172

 

 

 

22,467

 

Total liabilities and stockholders’ equity

$

121,613

 

 

$

129,342

 

 

 

 

 

Note: The balance sheet at December 31, 2023, has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements.

 

 

Sypris Solutions, Inc.

Consolidated Cash Flow Statements

(in thousands)

 

 

 

Nine Months Ended

 

September 29,

 

October 1,

 

2024

 

2023

 

(Unaudited)

Cash flows from operating activities:
Net loss

$

(1,815

)

$

(517

)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

 

2,449

 

 

2,392

 

Deferred income taxes

 

39

 

 

(56

)

Stock-based compensation expense

 

660

 

 

615

 

Deferred loan costs amortized

 

6

 

 

3

 

Provision for excess and obsolete inventory

 

591

 

 

(22

)

Non-cash lease expense

 

898

 

 

667

 

Other noncash items

 

413

 

 

178

 

Contributions to pension plans

 

(580

)

 

(10

)

Changes in operating assets and liabilities:
Accounts receivable

 

(3,606

)

 

(2,845

)

Inventory

 

8,642

 

 

(34,146

)

Prepaid expenses and other assets

 

(2,116

)

 

(464

)

Accounts payable

 

(3,986

)

 

7,841

 

Accrued and other liabilities

 

(1,903

)

 

18,195

 

Net cash used in operating activities

 

(308

)

 

(8,169

)

Cash flows from investing activities:
Capital expenditures

 

(666

)

 

(1,890

)

Net cash used in investing activities

 

(666

)

 

(1,890

)

Cash flows from financing activities:
Proceeds from equipment financing obligations

 

430

 

 

210

 

Proceeds from working capital line of credit

 

-

 

 

500

 

Proceeds from Note Payable - related party

 

2,500

 

 

-

 

Principal payments on finance lease obligations

 

(1,006

)

 

(845

)

Principal payments on equipment financing obligations

 

(471

)

 

(387

)

Principal payments on Note Payable - related party

 

-

 

 

(2,500

)

Indirect repurchase of shares for minimum statutory tax withholdings

 

(127

)

 

(104

)

Net cash provided by (used in) financing activities

 

1,326

 

 

(3,126

)

Effect of exchange rate changes on cash balances

 

(18

)

 

(54

)

Net increase (decrease) in cash and cash equivalents

 

334

 

 

(13,239

)

Cash and cash equivalents at beginning of period

 

7,881

 

 

21,648

 

Cash and cash equivalents at end of period

$

8,215

 

$

8,409

 

 

Rebecca R. Eckert

Chief Accounting Officer

(502) 329-2000

Source: Sypris Solutions, Inc.

FAQ

What was Sypris Solutions (SYPR) revenue growth in Q3 2024?

Sypris Solutions reported a 6.2% year-over-year revenue growth to $35.7 million in Q3 2024.

What is SYPR's earnings per share (EPS) for Q3 2024?

Sypris Solutions reported earnings of $0.02 per diluted share in Q3 2024, compared to a loss of $0.03 per share in the prior year.

What is Sypris Solutions' (SYPR) revenue guidance for 2024?

Sypris Solutions expects 10% revenue growth for 2024, which is at the lower end of their previous guidance.

How much is SYPR's current backlog at Sypris Electronics?

The backlog at Sypris Electronics exceeds $100 million and is expected to support growth through 2024 and beyond.

Sypris Solutions Inc

NASDAQ:SYPR

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31.01M
22.97M
47.21%
17.08%
2.63%
Auto Parts
Industrial Instruments for Measurement, Display, and Control
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United States of America
LOUISVILLE