Overview
Sypris Q2 revenue falls to $31.4 mln, down from $35.5 mln last year
Company reports Q2 net loss of $2.1 mln, compared to breakeven last year
Orders for Sypris Electronics surge 110% to $47 mln, boosting backlog 26%
Outlook
Company anticipates moderate production decrease in automotive and commercial vehicle markets
Sypris Electronics' strong backlog expected to offset revenue declines
Company exploring growth in LNG demand and CO2 capture markets
Sypris expects cyclical decline in commercial vehicle market to impact revenue
Result Drivers
TARIFF IMPACT - Revenue decline attributed to tariffs reducing demand from transportation customers and conversion to sub-maquiladora model
MATERIAL ISSUES - Gross profit affected by production inefficiencies and material availability issues for Sypris Electronics
ORDER SURGE - Sypris Electronics orders increased 110%, boosting backlog by 26%
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $31.43 mln |
|
Q2 Net Income |
| -$2.05 mln |
|
Q2 Gross Profit |
| $2.58 mln |
|
Q2 Operating Income |
| -$1.44 mln |
|
Q2 Pretax Profit |
| -$2.05 mln |
|
Press Release: ID:nBw5V7WWMa