SYPR - Sypris Solutions GAAP EPS of -$0.03 revenue of $29M

• Sypris Solutions press release ( NASDAQ: SYPR ): Q2 GAAP EPS of -$0.03.
• Revenue of $29M (+11.5% Y/Y).
• Orders increased 360% Y/Y and 169% sequentially driven by a 524% and 240% increase at Sypris Electronics.
• The company updated its full-year outlook for 2022, maintaining the expected increase in revenue at 25% to 30% year-over-year while adjusting the gross margin guidance to a 25 to 50 basis point increase with revenue mix and supply chain inefficiencies slowing the margin improvement in the near term. Cash flow from operations is expected to show double digit percentage growth reflecting increased year-over-year profitability and favorable working capital changes during the year.

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