Sypris Solutions, Inc. Provides Earnings Guidance for the Year 2022 and 2023
November 16, 2022 at 07:45 am EST
Share
Sypris Solutions, Inc. provided earnings guidance for the year 2022. For the year, the company updated its full-year outlook for 2022, with revenue now expected to increase 15-20% year-over-year, down from prior guidance due to supply chain challenges.
For the year 2023, the company expects Revenue for 2023 is forecast to increase 20-25% and gross margins are expected to expand 150-200 basis points year-over-year.
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. 
