SPR - Spirit AeroSystems Encounters Headwinds In Q1 As Boeing 737 Issues Take Toll | Benzinga
Spirit AeroSystems Holdings Inc (NYSE:SPR) shares are trading lower after it reported first-quarter 2024 results, with revenue growth of 19% Y/Y to $1.703 billion, beating the consensus of $1.62 billion.
The revenue increase represents higher production activities on Commercial programs and higher Defense and Space revenues. Overall deliveries decreased to 307 shipsets during the quarter compared to 346 shipsets YoY.
Spirit’s backlog stood at ~$49 billion at the end of the quarter, including work packages on all commercial platforms in the Airbus SE (OTC:EADSY) and Boeing Co (NYSE:BA) backlog.
The quarter’s adjusted EPS was $(3.93), negatively influenced by significant unfavorable estimate revisions and further impacted by Boeing’s schedule changes ...