CPI Aerostructures Reports First Quarter 2025 Results

May 15, 2025

First Quarter 2025 vs. First Quarter 2024

  • Revenue of $15.4 million compared to $19.1 million;

  • Gross profit of $1.6 million compared to $3.6 million;

  • Gross margin of 10.7% compared to 18.6%;

  • Net (loss) income of $(1.3) million compared to net income of $0.2 million;

  • (Loss) earnings per share of $(0.10) compared to earnings per share of $0.01;

  • Adjusted EBITDA(1) of $(0.8) million compared to $1.2 million;

  • Cash flow used in operations of $2.7 million compared to $1 million.


EDGEWOOD, N.Y. – May 15, 2025 – CPI Aerostructures, Inc. (“CPI Aero” or the “Company”) (NYSE American: CVU) today announced financial results for the three month period ended March 31, 2025.


“Our first quarter 2025 results were significantly impacted by the recognition of a pre-tax loss of $2.1 million on our A-10 Program, a challenging Program with higher manufacturing costs on a 2019-fixed price contract. In light of the pending retirement of the A-10 fleet, we have now taken the necessary steps to mitigate this Program’s further potential degradation to the Company’s financial performance. Our first quarter 2025 gross profit without the A-10 Program impact was 21.6% compared to 18.6% in the first quarter of 2024 and, our income before provision for income taxes, without the A-10 Program impact, was $0.5 million compared to $0.2 million in the first quarter of 2024,” said Dorith Hakim, President and CEO.


“We continued to improve our balance sheet during the first quarter, bringing our total debt down to an all-time low of $16.7 million and our Debt-to-Adjusted EBITDA Ratio to 2.9 marking our ninth consecutive quarter-end below 3.0,” continued Dorith Hakim, President and CEO.


Concluded Ms. Hakim, “We remain committed to driving operational improvements as we strive to meet our customer’s priorities while optimizing our portfolio, transitioning from legacy programs to programs of the future. We ended the quarter with a strong backlog of $516 million, which includes multiple new program awards from L3Harris, Raytheon, Lockheed and Embraer. We remain confident in CPI Aero’s long-term outlook and look forward to capitalizing on the multiple opportunities ahead as we continue to build on our longstanding relationships with our customers.”


 

About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services.


Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. Words such as “remain committed," “strive,” “remain confident,” “outlook,” “look forward,” “opportunities ahead,” “continue” and similar expressions are intended to identify these forward-looking statements. These forward-looking statements include the Company’s confidence in its long-term outlook, expectations for future opportunities, and plans to continue building on customer relationships. The Company does not guarantee that

it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements.

Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2024 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO..

 


Contact

Investor Relations Counsel CPI Aerostructures, Inc.

LHA Investor Relations Philip Passarello

Jody Burfening Chief Financial Officer

(212) 838-3777 (631) 586-5200

cpiaero@lhai.com ppassarello@cpiaero.com

www.cpiaero.com



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