SPR Stock Recent News

Spirit AeroSystems' (SPR) first-quarter loss widens. Its revenues jump 19% year over year, driven by higher production activities of the company's commercial programs.

While the top- and bottom-line numbers for Spirit Aerosystems (SPR) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Spirit Aerosystems (SPR) came out with a quarterly loss of $3.93 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to loss of $1.69 per share a year ago.

Spirit AeroSystems reported a higher first-quarter cash burn on Tuesday, squeezed by lower 737 production at the aerospace supplier's biggest customer, Boeing.

WICHITA, Kan. , April 26, 2024 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. [NYSE: SPR] will release its first quarter 2024 financial results at 6:30 a.m.

Spirit AeroSystems and Boeing entered into a memorandum of agreement to address issues that include the aero parts supplier's higher levels of inventory, contract assets and lower operational cash flows.

Boeing's key supplier Spirit AeroSystems is limiting overtime and hiring as production declines due to lower output of 737 MAX jets, Spirit told Reuters on Friday.

The head of Airbus told Reuters it is "not unlikely" that the European planemaker takes control of two U.S. and UK plants run by Spirit Aerosystems if Boeing goes ahead with plans to buy one of the industry's key suppliers.

Spirit AeroSystems shares jumped in March on reports it could be acquired by former parent Boeing. The two companies were separated in 2005 as part of Boeing's effort to cut costs, but the aerospace giant is now seeing the downside of not controlling its supply chain.

Proxy advisory firm Glass Lewis has recommended Spirit AeroSystems shareholders vote against the election of two directors, including the head of the aero parts supplier's risk committee, Ronald Kadish, at the 2024 annual meeting.