A month has gone by since the last earnings report for Spirit Aerosystems (SPR) . Shares have added about 1.1% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Spirit Aerosystems due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Spirit AeroSystems Q1 Loss Widens, ...

WICHITA, Kan., June 5, 2024 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. [NYSE: SPR] today announced that Mark Suchinski is stepping down as Senior Vice President and Chief Financial Officer. Irene Esteves, former Executive Vice President and Chief Financial Officer of Time Warner Cable and a member of Spirit's Board of Directors, has been appointed the new Chief Financial Officer effective immediately. Suchinski will remain with Spirit for a transition period to support the transition to Esteves in he ...

One clarification question and my main question. The 55 MAX units that you didn't ship in the quarter but produced, how many of those at this point have gone through this joint verification process and a That's my clarification question. And then my main question on Airbus and the negotiations there, Pat. Has there been any progress on the pricing side? Or did the pricing negotiations kind of get put to the side at this point, given it sounds like you're potentially negotiating with Airbus to take back the ...

Exhibit 99.1 Spirit AeroSystems Holdings, Inc. 3801 S. Oliver Wichita, KS 67210 www.spiritaero.com Spirit AeroSystems Reports First Quarter 2024 Results First Quarter 2024 Wichita, Kan., May 7, 2024 - Spirit AeroSystems Holdings, Inc. (NYSE: SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported first quarter 2024 financial results. | Table 1. Summary Financial Results (unaudited) | | | | | --- | --- | --- | --- | | | | 1st Quarter | | | ($ in millions, except per share data) | 2024 | 2023 | Change ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33160 Spirit AeroSystems Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 20-2436320 ( ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $0.52 for Q4 2023, a significant improvement from a loss of $2.32 in Q4 2022. Adjusted EPS was $0.48 compared to a loss of $1.46 in the prior year [17] - Operating margin improved to 11% from a negative 11% in the same period of 2022, largely due to favorable impacts from the Boeing Memorandum of Agreement (MOA) [17] - Revenue for Q4 2023 was $1.8 billion, up 37% year-over-year, driven by higher production on commercial programs and increased revenues from Defense and Space and aftermarket segments [54] Business Line Data and Key Metrics Changes - The Defense and Space segment grew to $205 million, a 12% increase from Q4 2022, but the operating margin decreased to 2% from 11% due to unfavorable changes in estimates [20] - Commercial revenues increased by 43% year-over-year, with operating margin rising to 17% from negative 8% in the prior year, primarily driven by favorable changes in estimates [57] - Aftermarket revenue was $91 million, up 24% compared to Q4 2022, with a strong operating margin of 23% compared to 13% in the same period last year [59] Market Data and Key Metrics Changes - The company ended the year with $824 million in cash and $4.1 billion in debt, with no significant debt maturities until 2026 [23] - Full-year revenue for 2023 was $6 billion, a 20% increase year-over-year, driven by higher commercial production volumes and increased revenues from defense and space [22] Company Strategy and Development Direction - The company is focused on stabilizing operations and improving quality management systems, particularly in response to the January 5th accident [5][11] - There is an ongoing effort to integrate more with Boeing's quality management system and to enhance manufacturing processes through automation and advanced data analytics [30][32] - The company is engaged in productive negotiations with Airbus regarding the A350 and A220 programs, aiming to address long-term financials [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged significant pressures in 2023 due to production schedule volatility, supply chain constraints, and inflation, but expressed confidence in the team's ability to stabilize operations [15][36] - The company is not providing specific guidance for 2024 due to uncertainties surrounding production rates and ongoing negotiations with Boeing and Airbus [36] - Management emphasized the importance of quality and safety, stating that the company is mobilized for implementation of systemic improvements [11][126] Other Important Information - The company recorded forward losses primarily related to the A350 and A220 programs, with net incremental forward losses of approximately $30 million anticipated beyond 2025 [18] - The company has made significant investments to stabilize the 737 production line, achieving the highest quarterly total of fuselage deliveries in four years [34][111] Q&A Session Summary Question: What is the current production rate for the 737? - Management stated that the factory is cycling at 42 units per month but building at 38 units per month, indicating a stable production schedule [64] Question: What is the status of the forward loss reserves? - Management indicated that the forward loss reserves include both short-term and long-term items, with expectations of a forward loss through 2024 and possibly into early 2025 [65] Question: How is the company addressing quality issues? - Management highlighted a focus on product safety and quality management, with an emphasis on reducing manual processes and increasing inspections [125][126] Question: What are the expectations for free cash flow in 2024? - Management noted uncertainty around production rate increases and ongoing negotiations, making it difficult to provide specific guidance on free cash flow for 2024 [97]

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Q3 2023 Earnings Conference Call November 1, 2023 11:00 AM ET Ryan Avey - Senior Director, IR & FP&A Patrick Shanahan - President and CEO Mark Suchinski - SVP and CFO Seth Seifman - JPMorgan Sheila Kahyaoglu - Jefferies Douglas Harned - Bernstein David Strauss - Barclays George Shapiro - Shapiro Research Myles Walton - Wolfe Research Scott Deuschle - Deutsche Bank Noah Poponak - Goldman Sachs Robert Stallard - Vertical Research Scott Mikus - Melius Research Cai v ...

Tom Gentile President and Chief Executive Officer 3 ▪ Higher production on development programs and P-8 | --- | --- | --- | --- | |-------|-------|--------------------|-------| | | | | | | | | | | | | | SPIRIT | | | | | AEROSYSTEMS ® | | | | | | | | | | ►▶▶ spiritaero.com | | a Represents the deferred tax asset valuation allowance (included in Income tax provision) Cash and Debt Balances ▪ Lower deliveries of A220 15% Revenue Non-GAAP Measure Disclosure | --- | --- | --- | --- | --- | |--------------------- ...

The teams worked diligently throughout the quarter on the 737 vertical fin attached fitting rework related to the quality issue that we explained in April. We're pleased to have resolved the required rework on available units in Wichita within the $31 million cost estimate we discussed on the last earnings call. Ryan Avey On the IAM contract, we are very pleased to have in place a four-year contract with our IAM represented employees, which reflects the gratitude we have for their contributions. While the f ...

We're aligned with AirbusÂ' schedule, and we're delivering to that. So we are on track to hit our deliveries for the year. We do have some behind schedule as normal based on supply shortages and things like that. But we are on track to hit their delivery schedule for the year. And the factory is in recovery mode, but is executing to the recovery plan and is on track for the full number of deliveries for this year. It's about 60. Our next question is from George Shapiro with Shapiro Research. Your line is no ...