CPS Technologies Reports Y/Y Earnings & Revenue Declines in Q3

Zacks11-02

CPS Technologies Corporation CPSH faced headwinds from contract completions and elevated operational expenses in third-quarter 2024. Shifts in customer demand and strategic adjustments weighed on the ...

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Shifts in customer demand and strategic adjustments weighed on the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cps-technologies-reports-y-y-165500218.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CPS Technologies Reports Y/Y Earnings & Revenue Declines in Q3</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCPS Technologies Reports Y/Y Earnings & Revenue Declines in Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-02 00:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/cps-technologies-reports-y-y-165500218.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CPS Technologies Corporation CPSH faced headwinds from contract completions and elevated operational expenses in third-quarter 2024. Shifts in customer demand and strategic adjustments weighed on the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cps-technologies-reports-y-y-165500218.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPS","symbol_name":"Cooper-Standard Holdings Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/cps-technologies-reports-y-y-165500218.html","article_id":"2480856471","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480856471","pubTimestamp":1730480100,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"CPS Technologies CorporationCPSH faced headwinds from contract completions and elevated operational expenses in third-quarter 2024. Shifts in customer demand and strategic adjustments weighed on the company’s performance, impacting revenues and profitability. However, with its third production shift fully operational and new contracts secured across key sectors, CPS Technologies is positioned for a rebound. Management is optimistic about the road ahead, focusing on leveraging recent developments in government projects and the semiconductor industry to drive growth.CPS Technologies Corp. Price, Consensus and EPS Surprise. CPS Technologies Corp. price-consensus-eps-surprise-chart | CPS Technologies Corp. Quote. CPS Technologies reported a third-quarter 2024 loss per diluted share of 7 cents, falling 800% from earnings of 1 cent per diluted share in the prior-year quarter.CPS Technologies recorded an operating loss of $1.5 million for third-quarter 2024 against an operating profit of $0.1","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CPS":"Cooper-Standard Holdings Inc.","CPSH":"CPS Technologies Corp"},"translate_title":"CPS Technologies报告第三季度盈利和收入同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPS":1,"CPSH":0.9},"content_text":"CPS Technologies Corporation CPSH faced headwinds from contract completions and elevated operational expenses in third-quarter 2024. Shifts in customer demand and strategic adjustments weighed on the company’s performance, impacting revenues and profitability. However, with its third production shift fully operational and new contracts secured across key sectors, CPS Technologies is positioned for a rebound. Management is optimistic about the road ahead, focusing on leveraging recent developments in government projects and the semiconductor industry to drive growth.\n\nCPS Technologies Corp. Price, Consensus and EPS Surprise\n  \nCPS Technologies Corp. price-consensus-eps-surprise-chart | CPS Technologies Corp. Quote\n\nQ3 Results\nCPS Technologies reported a third-quarter 2024 loss per diluted share of 7 cents, falling 800% from earnings of 1 cent per diluted share in the prior-year quarter.\nTotal quarterly revenues of $4.2 million declined 33.3% from $6.3 million in the prior-year period. The revenue decline is attributed to the end of the HybridTech Armor contract with Kinetic Protection for the U.S. Navy and reduced orders from another major client due to excess inventory.\nProfitability Metrics\nThe company’s gross margin turned negative, with a gross loss of $0.5 million against a gross profit of $1.2 million in third-quarter 2023. This margin compression resulted from lower manufacturing efficiencies and expenses tied to staffing and training a third production shift. The shift, operational as of late August, increased the cost of goods sold without yielding corresponding revenues in this quarter.\nCPS Technologies recorded an operating loss of $1.5 million for third-quarter 2024 against an operating profit of $0.1 million in the prior-year period. This downturn in operating income reflects the cumulative impacts of reduced revenues and expenses related to increased production.\nThe company reported a net loss of $1 million against a net income of $0.2 million in third-quarter 2023. The loss reflects the impacts of challenges from contract completion and elevated labor costs in the quarter.\nCosts\nIn third-quarter 2024, CPS Technologies experienced increased costs, led by the need for additional staffing and training associated with launching a third shift. These costs, incurred without corresponding revenues from increased production, contributed to a significant decline in the gross margin. Manufacturing inefficiencies further exacerbated cost pressures.\nManagement View\nCPS Technologies expressed optimism regarding a recovery in the fourth quarter and beyond, as the company’s third shift is now fully operational. Management anticipates higher deliveries in future quarters to contribute positively to revenues. The company maintains a favorable book-to-bill ratio of 1.22, suggesting demand growth for its products and services.\nOther Developments\nCPSH announced multiple significant contracts and awards in the quarter. CPS Technologies secured a $1.1-million contract for 24 months from the U.S. Department of Energy to advance \"Modular Radiation Shielding for Transportation and Use of Microreactors.\" The company received a $200,000-contract from the U.S. Naval Air Systems Command to develop metal matrix composite solutions to strengthen and reduce weight for specialized applications. CPS Technologies was awarded a contract valued at approximately $12 million from a longstanding global semiconductor customer to provide power module components and related solutions.\nConclusion\nCPS Technologies faced notable revenue declines and operating challenges in the third quarter of 2024 due to the end of a major contract and rising labor costs. However, the company’s new contracts signal growth potential, particularly in government-related projects and the semiconductor industry.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480856471"}