Sypris Solutions (SYPR) Reports Q4 EPS of $0.02

Sypris Solutions (NASDAQ: SYPR) reported Q4 EPS of $0.02, versus ($0.06) reported last year. Revenue for the quarter came in at $25.8 million, versus $20.6 million reported last year.

Outlook:

Commenting on the future, Mr. Gill added, “Demand is up considerably from customers serving the automotive, commercial vehicle and sport utility markets, with Class 8 forecasts showing year-over-year production increases of 11.9% for 2022 and an additional 21.6% in 2023. Similarly, demand from customers in the defense and communications sector remains robust. While the outlook for the energy market is somewhat uncertain, we continue to secure new orders on important projects around the world.”

“We expect our backlog and markets to support continued revenue and earnings growth during 2022. We have updated our outlook accordingly, with revenue forecast to increase 25-30% year-over-year. We expect gross margin to follow suit, expanding 200-250 basis points in 2022 when compared to the prior year, while cash flow from operations is forecast to increase materially year-over-year supported by strong earnings growth.”

For earnings history and earnings-related data on Sypris Solutions (SYPR) click here.

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