Chicago Rivet Reports $916K Loss, Going-Concern Warning

Chicago Rivet & Machine reported third-quarter revenue of $7.53 million, up 2.3% year over year, but swung to a $916,000 net loss, or $0.95 per share, from a small profit a year earlier. Gross profit fell nearly 50% as lower production volumes weakened fixed-cost absorption, product mix worsened and material and labor costs rose; selling and administrative expenses also increased. For the first nine months of 2026, the company recorded a $2.27 million net loss and a $2.33 million operating loss, while operating cash outflows and reduced cash reserves added to financial pressure. Its filing warned that recurring losses and negative operating cash flows raise substantial doubt about its ability to continue as a going concern; it also showed a new $1.5 million related-party note. Management expects production volumes to rise slightly and new customer awards to begin ramping up in the first quarter of 2027.