(Corrects to remove reference to net loss widening in headline)
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/Mis Actual Consensu
s s
Estimate
Q2 $31.43
Revenue mln
Q2 Net -$2.05
Income mln
Q2 Gross $2.58
Profit mln
Q2 -$1.44
Operatin mln
g Income
Q2 -$2.05
Pretax mln
Profit
Press Release:
(This story was created using Reuters automation and AI based
on LSEG and company data. It was checked and edited by a Reuters
journalist prior to publication.)