Welcome to our dedicated page for Spirit Aerosystems Holdings news (Ticker: SPR), a resource for investors and traders seeking the latest updates and insights on Spirit Aerosystems Holdings stock.
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) is headquartered in Wichita, Kansas, USA, and is one of the world's largest non-OEM designers and manufacturers of aerostructures for commercial aircraft. The company's extensive footprint spans facilities in Tulsa and McAlester, Oklahoma; Kinston, North Carolina; Prestwick, Scotland; Preston, England; Subang, Malaysia; and Saint-Nazaire, France.
Spirit AeroSystems specializes in producing aerostructures, notably fuselages, cockpits, wing components, engine pylons, and nacelles. It serves both the commercial and military aviation sectors. Since its spin-off from Boeing in 2005, Spirit has become the largest independent supplier of aerostructures for commercial aircraft, with Boeing and Airbus as its primary customers. Boeing accounted for approximately 60% of revenue, while Airbus contributed around 20% in recent years.
In the US, Spirit's core products include fuselages, pylons, nacelles, and wing components. The company also provides aftermarket services such as spare parts, maintenance, repair, and overhaul (MRO), and fleet support services across North America, Europe, and Asia. In Europe, Spirit manufactures wing components for Airbus among other customers.
Recent achievements and ongoing projects underscore Spirit's commitment to innovation and quality. Notable updates include the completion of a tender offer for its 7.500% Senior Secured Second Lien Notes due 2025, and organizational changes focused on enhancing quality and operational performance. In 2023, Spirit reported a significant increase in revenue due to higher production deliveries and favorable pricing adjustments on the Boeing 787 program.
The company is currently engaged in discussions with Boeing about a possible acquisition, although no definitive agreement has been reached. This potential transaction reflects Spirit's strategic efforts to further enhance shareholder value.
With a robust backlog of $49 billion, Spirit AeroSystems continues to adapt and evolve, leveraging its decades of design and manufacturing expertise to remain a reliable supplier of military aerostructures and high-temperature materials crucial for complex missions. The company's financial outlook remains cautious, reflecting ongoing negotiations and production adjustments in collaboration with key partners like Boeing and Airbus.
Spirit AeroSystems Holdings (NYSE: SPR) will release its Q1 2023 financial results on May 3, 2023, at 6:30 a.m. CDT. Following the release, Tom Gentile, President and CEO, and Mark Suchinski, CFO, will host a conference call for analysts at 10 a.m. CDT.
The presentation will be accessible online and will include charts and a Q&A session. Interested parties can find the live audio stream and slides at investor.spiritaero.com. Spirit AeroSystems is a leading manufacturer of aerostructures for commercial and defense aircraft, specializing in fuselages and wings, with a global presence across multiple countries.
Spirit AeroSystems and Skyworks Aeronautics have signed a Memorandum of Understanding to enhance support for Skyworks' defense and commercial platforms in the U.K. and Europe. Spirit's teams in Northern Ireland and Scotland will collaborate on the design of the VertiJet, a high-speed VTOL platform capable of flying at speeds up to 400 mph. This agreement reinforces Spirit's commitment to expanding its U.K. operations. The collaboration aims to utilize advanced materials and lightweight structures for innovative aircraft technologies. Skyworks, known for its gyronautics expertise, sees Spirit as a strategic partner to actualize the VertiJet's potential.
Spirit AeroSystems and Astraius Ltd. have announced a collaboration to enhance satellite launch capabilities from Prestwick Spaceport in Scotland. The partnership aims to accelerate the development of key systems for Astraius's horizontal launch platform, utilizing C-17 aircraft for efficient satellite deployment. With the UK government prioritizing orbital launches to capture a portion of the projected £490 billion global space economy by 2030, the collaboration is positioned to leverage the growing demand for satellite launches. Officials have noted the potential for job growth and investment in the space sector, highlighting Scotland's ambition to become Europe's leading space nation by 2030.
Spirit AeroSystems has signed a significant agreement with GMR Aero Technic to become the authorized repair center in India for Boeing and other aircraft. This partnership aims to enhance MRO (Maintenance, Repair, Overhaul) services, particularly for 737 MAX aircraft. GMR Aero Technic, located at Rajiv Gandhi International Airport, will initially provide repair services for nacelles, radomes, and flight control surfaces. This collaboration is part of Spirit's broader strategy to expand its aftermarket services, which saw revenues increase from $186 million in 2019 to $311 million in 2022.
Spirit AeroSystems Holdings will be represented by Senior VP and CFO Mark Suchinski at the Barclays Industrial Select Conference on February 23, 2023, at 10:20 a.m. (ET). A webcast of the presentation will be available on their investor relations page. Attendees should ensure their devices are set up for the event in advance. An audio replay will be accessible for 180 days post-presentation. Spirit AeroSystems is a leading manufacturer of aerostructures for aircraft, with a global presence including locations in the U.S., U.K., France, Malaysia, and Morocco.
Spirit AeroSystems (NYSE: SPR) reported Q4 2022 revenue of $1.3 billion, a 23% increase YoY, primarily from Boeing 737 deliveries. Full-year revenue rose 27% to $5.0 billion. However, the company posted a net loss of $(243 million in Q4 and $(546 million) for 2022. Operating losses expanded to $(139 million) in Q4 but improved to $(281 million) for the full year. Free cash flow usage was $66 million in Q4, totaling $516 million for 2022. The backlog stood at approximately $37 billion at year-end, with plans to deliver 420 shipsets in 2023. The fiscal year faced challenges due to supply chain issues and increased production costs.
FAQ
What is the current stock price of Spirit Aerosystems Holdings (SPR)?
What is the market cap of Spirit Aerosystems Holdings (SPR)?
What does Spirit AeroSystems Holdings, Inc. manufacture?
Where is Spirit AeroSystems headquartered?
Who are the primary customers of Spirit AeroSystems?
What services does Spirit AeroSystems offer besides manufacturing?
What are some of Spirit AeroSystems' recent achievements?
What is the financial outlook for Spirit AeroSystems?
Is Spirit AeroSystems involved in any acquisition discussions?
What is the company's backlog?
What regions does Spirit AeroSystems operate in?
What materials and expertise does Spirit AeroSystems leverage in its manufacturing?
