Sypris Solutions, Inc. Announces Revenue Guidance for the First Quarter and Full Year 2021 and production forecast for 2021 and 2022
March 18, 2021 at 09:00 am EDT
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Sypris Solutions, Inc. announced revenue is forecast to increase 20% during 2021.
The company expect revenue for First Quarter will be in line with the 2023 quarter average of $21.7 million just discussed and expect to show sequential quarterly and year-over-year growth over the balance of the year to achieve a 20% growth target.
Demand from customers in the commercial vehicle market rebounded during the second half of 2020 as market conditions improved. North American Class 8 production is forecast to grow 41% in 2021, and additional 15% in 2022.
Sypris Solutions, Inc. is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries. The Company is a provider of truck components, oil and gas pipeline components and aerospace and defense electronics. Its segments include Sypris Technologies, Inc. (Sypris Technologies) and Sypris Electronics, LLC (Sypris Electronics). Sypris Technologies is a supplier of forged and machined components, serving the commercial vehicle, off highway vehicle, recreational vehicle, automotive, industrial and energy markets in North America. Sypris Technologies manufactures energy-related products, such as pressurized closures, insulated joints, and other specialty products, primarily for oil and gas pipelines. Sypris Electronics segment is engaged in circuit card and full box build manufacturing and design for manufacturability and design to specification, for customers in the aerospace and defense electronics markets.
SYPRIS SOLUTIONS, INC. 
