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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, Inc. (NYSE: SPR) will release its second quarter 2022 financial results on August 3, 2022, at 6:30 a.m. Central Time. CEO Tom Gentile and CFO Mark Suchinski will discuss these results during a conference call at 10 a.m. Central Time that will be streamed online. The call will include a Q&A session and slides. Spirit AeroSystems is a leading manufacturer of aerostructures for aircraft, with operations globally, providing components for commercial and defense sectors.
Sierra Space and Spirit AeroSystems announced a strategic partnership to enhance the production of Shooting Star cargo modules under the Dream Chaser franchise. This collaboration aims to broaden access to the commercial space economy by lowering costs and accelerating market entry. Spirit AeroSystems will provide industrial manufacturing expertise, supporting NASA resupply missions for the International Space Station under the CRS-2 contract. Sierra Space previously secured $1.4 billion in Series A funding to advance its space transportation systems.
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) CEO Tom Gentile will present at the UBS Global Industrials and Transportation Conference on June 8, 2022, at 1:00 p.m. (ET). The event will be webcast live and accessible via their investor relations website. An audio replay will be available for a year post-event. Spirit AeroSystems is a leading manufacturer of aerostructures for commercial and defense aircraft, with operations in multiple countries, including the U.S., U.K., France, Malaysia, and Morocco.
Spirit AeroSystems Holdings reported a 30% increase in revenue for Q1 2022, totaling $1.2 billion, compared to $901 million in Q1 2021. The operating loss decreased to $42 million, reflecting a 66% improvement year-over-year. Loss per share improved significantly to $(0.51) from $(1.65). Free cash flow usage rose to $298 million. Spirit's backlog stood at approximately $36 billion. Despite challenges from the pandemic and geopolitical tensions, production rates, especially on the Boeing 737 program, have increased.
Spirit AeroSystems Holdings declared a regular quarterly $0.01 per share cash dividend on its common stock. The dividend, payable on July 7, 2022, is for stockholders of record as of the close of business on June 16, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders amidst its operations in aerostructures for commercial and military platforms.
Spirit AeroSystems has officially entered a partnership with Guangzhou Aircraft Maintenance Engineering Company (GAMECO) to establish an Authorized Repair Center in Mainland China. This collaboration aims to provide local air carriers with reduced freight costs and less aircraft downtime. Initial services focus on the repair of Boeing 757 and A330 inlet cowlings, with plans for future expansions. Spirit's Aftermarket business has seen growth from
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) is set to release its first quarter 2022 financial results on May 4, 2022, at 6:30 a.m. Central Time. A conference call for securities analysts will follow at 10 a.m. Central Time, featuring insights from President and CEO Tom Gentile, CFO Mark Suchinski, and COO Sam Marnick. The presentation will be streamed online and include a Q&A session. Spirit AeroSystems is a leading manufacturer of aerostructures for aircraft, serving both commercial and defense sectors with a strong global presence.
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) has secured a contract with Boeing to supply engine pylons and nacelles for the B-52 Commercial Engine Replacement Program (CERP). This initiative aims to replace 608 engines in the U.S. Air Force's B-52H fleet and extend the aircraft's service life until at least 2050. Spirit, a leading supplier of engine pylons, will apply its extensive experience in producing engine structures to support the B-52, which first entered service in 1955.
Spirit AeroSystems commended congressional leaders for safeguarding nearly 31,000 aviation jobs through the Aviation Manufacturing Jobs Protection (AMJP) program, which allocated $673 million to 593 aviation supply chain businesses. This bipartisan initiative was essential for supporting the aviation industry after a 96% drop in global air travel due to COVID-19. The six-month program offers up to 50% compensation for eligible employees while ensuring wage guarantees and no reduction in hours.
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