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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 (NYSE: SPR) will host an Investor Day on March 2, 2022, focusing on its long-term growth, diversification strategies, financial framework, and innovation initiatives. Key presenters include CEO Tom Gentile and CFO Mark Suchinski. The event will be streamed live from 9:00 a.m. to 1:00 p.m. Eastern Time, with a replay available afterward. Spirit AeroSystems is a leading manufacturer of aerostructures for various aircraft types, headquartered in Wichita, Kansas, with manufacturing facilities globally.
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) CEO Tom Gentile will participate virtually in the Cowen 43rd Annual Aerospace/Defense & Industrials Conference on February 10, 2022, at 9:20 a.m. ET. The webcast will be accessible at investor.spiritaero.com, with a replay available for one 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 reported a Q4 2021 revenue of $1.1 billion, marking a 22% year-over-year increase. Full-year revenue reached $4.0 billion, up 16% y/y. Despite these gains, the company reported a net loss of $120 million in Q4, a 59% improvement y/y. Adjusted EPS was $(0.84), reflecting a 36% improvement. Cash from operations improved significantly, reaching $(63 million), a 92% increase y/y. Spirit's backlog stood at approximately $35 billion at the end of 2021, bolstered by increased production on the Boeing 737.
Spirit AeroSystems (NYSE:SPR) has declared a regular quarterly
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) will announce its fourth quarter and full-year 2021 financial results on February 2, 2022, at 6:30 a.m. Central Time. Following the results, a conference call will take place at 10 a.m. Central Time, featuring CEO Tom Gentile and other key executives discussing the financial outcomes and providing insights into the company's outlook. The presentation will include a live audio stream and a Q&A session, accessible via the investor relations website. Spirit AeroSystems specializes in manufacturing aerostructures for various aircraft.
Spirit AeroSystems has appointed William A. Fitzgerald and Patrick M. Shanahan to its Board of Directors effective November 12. Fitzgerald, a seasoned executive with extensive experience in commercial aviation, previously held roles at GE Aviation. Shanahan brings 31 years of experience from Boeing and served as former Deputy Secretary of Defense. Both appointees are expected to enhance the company's strategy in commercial, defense, and space markets.
Spirit AeroSystems reported third-quarter 2021 results, showcasing a 22% revenue increase to $980 million compared to $806 million in 2020. Operating loss improved to $(157 million), down from $(177 million). EPS also showed improvement, at $(1.09) versus $(1.50) year-over-year. Shipset deliveries rose to 250, including 47 Boeing 737s. Despite challenges, the backlog remained strong at approximately $33 billion. Cash flow from operations was $211 million, a significant turnaround from $(53 million) in Q3 2020.
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) declared a $0.01 per share cash dividend on its common stock. The dividend will be paid on January 3, 2022, to stockholders on record as of the close of business on December 13, 2021. This announcement reflects the company's commitment to returning value to its shareholders while continuing to adapt to market conditions.
Boeing informed Spirit AeroSystems (NYSE: SPR) about potential defective parts from Manufacturing Process Specification srl (MPS) in Italy, dating back to 2017. Spirit confirmed it does not acquire parts directly from MPS and assured that only approved parts have been shipped. Boeing revoked MPS's approval after identifying flawed parts from its sub-tier suppliers. Spirit reiterated its commitment to quality and safety and has collaborated with Boeing throughout the issue to ensure customer trust.
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