Sypris Solutions GAAP EPS of -$0.10, revenue of $25.2M; narrows FY22 top line guidance
Nov. 16, 2022 7:47 AM ETSypris Solutions, Inc. (SYPR)By: Meghavi Singh, SA News Editor
- Sypris Solutions press release (NASDAQ:SYPR): Q3 GAAP EPS of -$0.10.
- Revenue of $25.2M (-1.9% Y/Y).
- “We have updated our outlook to include a 15%-20% growth in the Company’s top line in 2022, which is down from our previous guidance. In our initial outlook for 2023, we expect the top line to increase 20-25% year-over-year as a result of the combined strength of our backlog for Sypris Electronics, increasing orders for our energy products and anticipated new program wins for Sypris Technologies. We also expect to achieve gross margin expansion in the range of 150 to 200 basis points in 2023 on a more favorable revenue mix and improved operational performance."