Spirit Aerosys Stock Price, News & Analysis

Spirit AeroSystems (NYSE: SPR) reported Q2 2025 financial results with revenues of $1.6 billion and a significant loss of $(5.36) per share. The company faces substantial financial challenges, with management expressing substantial doubt about its ability to continue as a going concern.

Key developments include the pending acquisition by Boeing expected to close in Q4 2025, and an additional $94 million support package from Airbus. The company reported higher production activity on Boeing programs, particularly the 737 and 787, but recorded significant forward losses of $219 million mainly on Airbus A220, A350, and Boeing 787 programs. Spirit's backlog stands at $51 billion, though cash used in operations was $144 million with free cash flow usage of $190 million.

Spirit AeroSystems (NYSE: SPR) reported challenging Q1 2025 results with revenues of $1.5 billion and negative EPS of $(5.21). The company faced significant operational challenges, including a $420 million cash usage in operations. Key developments include a $116 million warranty reserve for titanium parts issues and net forward losses of $293 million. The company's future is marked by two major pending transactions: a merger with Boeing expected in Q3 2025 and an agreement to sell certain Airbus-related assets to Airbus for $1, plus receiving a $200 million credit line from Airbus. Management expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional funding to sustain operations.

Spirit AeroSystems (NYSE: SPR) has announced a definitive agreement to transfer several key Airbus aerostructure production assets to Airbus SE. The divestiture will coincide with Spirit's previously announced acquisition by Boeing, both expected to close in Q3 2025.

The transfer includes facilities in Kinston (NC), St. Nazaire (France), Casablanca (Morocco), Prestwick (Scotland), and various production lines for A220 and A350 components. Assets in Subang, Malaysia will also be transferred if no suitable buyer is found.

As part of the agreement, Airbus will provide Spirit with $200 million in non-interest-bearing lines of credit to support Airbus programs. The transaction requires regulatory approvals and other closing conditions.

Spirit AeroSystems (NYSE: SPR) announced that John L. Plueger, CEO of Air Lease , will depart from its Board of Directors after 10 years of service. Plueger will not seek re-election at the company's annual stockholders meeting on May 23, 2025.

The departure is attributed to Plueger's need to focus on expanded responsibilities at Air Lease following the retirement of executive chairman Steven Udvar-Házy. Spirit's Chairman Robert D. Johnson acknowledged Plueger's contributions, particularly highlighting his role in navigating the company through challenging times and securing the merger agreement with Boeing.

Spirit AeroSystems (NYSE: SPR) reported Q4 2024 financial results with revenues of $1.7 billion and EPS of $(5.38). The company reported cash provided by operations of $137 million and free cash flow of $91 million.

Key operational highlights include increased deliveries across programs: twofold increase for 737, 37% for A220, and 15% for A350 compared to previous quarter. However, the quarter saw significant challenges with net forward losses of $440 million, mainly from Boeing 787, Airbus A220, and A350 programs due to production issues and cost increases.

The company's pending acquisition by Boeing is expected to close in mid-2025. Spirit's cash balance stood at $537 million, supported by advance payments from Boeing ($200 million) and Airbus ($70 million). Management expressed substantial doubt about the company's ability to continue as a going concern, citing needs for additional funding to sustain operations. The backlog at quarter-end was approximately $47 billion.

Spirit AeroSystems (NYSE: SPR) shareholders have approved the proposed acquisition by Boeing during a special meeting held on January 31, 2025. The transaction, which was initially announced in summer 2024, is expected to close in mid-2025, pending regulatory approvals and other closing conditions.

Spirit's CFO Irene Esteves highlighted the shareholder approval as a significant milestone in the planned merger with Boeing, emphasizing continued focus on safety, compliance, and quality during the transition period. The company will maintain independent operations until the transaction closes.

Spirit AeroSystems is a major manufacturer of aerostructures for commercial airplanes, defense platforms, and business/regional jets, specializing in fuselages, integrated wings, pylons, and nacelles using aluminum and advanced composite manufacturing solutions.

Spirit AeroSystems Holdings (NYSE: SPR) has announced the sale of Fiber Materials Inc (FMI) to Tex Tech Industries for $165 million in cash. FMI, based in Biddeford, Maine, and Woonsocket, Rhode Island, specializes in high-temperature materials and reinforced composites, particularly Carbon/Carbon composites.

FMI's products are important components in thermal protection systems, re-entry vehicle nose tips, and rocket motor components, serving both defense platforms and NASA programs including Stardust, Mars Curiosity, Orion, and Mars 2020. The business employs approximately 400 engineers and production personnel.

For Tex-Tech, this acquisition adds strategic value by expanding their portfolio of thermally protective materials, particularly in the growing space and defense industry. Morgan Stanley & Co. is serving as lead financial advisor to Spirit, while Lincoln International is advising Tex-Tech on the transaction.

Spirit AeroSystems (NYSE: SPR) has entered into a purchase agreement to sell Fiber Materials, Inc. (FMI) to Tex-Tech Industries for $165 million in cash. FMI, based in Biddeford, Maine, and Woonsocket, Rhode Island, specializes in high-temperature materials and reinforced composites for defense platforms and NASA programs. The business employs approximately 400 engineers and production personnel. The acquisition will enhance Tex-Tech's portfolio in the space and defense industry.

Spirit AeroSystems (NYSE: SPR) has secured a second amended agreement with Airbus, featuring a $107 million non-interest-bearing line of credit. The funds will be used as advance payments for Airbus programme production and product delivery. The credit line's repayment obligations will either be assumed by Airbus or its affiliates upon closing of transactions outlined in their June 30, 2024 term sheet, or be repaid by April 1, 2026.