Spirit Aerosys Stock Price, News & Analysis

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.

Spirit AeroSystems has inaugurated its National Defense Prototype Center (NDPC) in Wichita, Kansas, in collaboration with Wichita State University's National Institute for Aviation Research. This center aims to enhance Spirit's defense and space production capabilities, targeting $1 billion in defense revenue by the mid-2020s. The NDPC spans over 125,000 square feet, featuring advanced testing and manufacturing technologies for high-temperature materials, crucial for developing hypersonic missiles and other defense applications.

Spirit AeroSystems (NYSE: SPR) will announce its third quarter 2021 financial results on November 3, 2021 at 6:30 a.m. CT. A conference call featuring key executives, including Tom Gentile and Mark Suchinski, will follow at 10 a.m. CT for analysts to discuss the results and future outlook. The event will be accessible online, alongside a detailed news release. Spirit AeroSystems is recognized for its production of aerostructures for commercial and military aircraft, leveraging advanced manufacturing and a global presence in the aeronautics industry.

Spirit AeroSystems, a subsidiary of Spirit AeroSystems Holdings, has signed a 10-year agreement with SF Airlines to modify inlet cowlings for its Boeing 757 cargo freighters. The agreement was finalized at the Air Show China in Zhuhai, enhancing Spirit's repair capabilities and regional support in the Asia Pacific. Inlet cowlings will be repaired at Spirit's Belfast operations, aiming to improve operational efficiency for SF Airlines in the post-COVID market landscape. This strategic partnership signals Spirit's commitment to supporting growing freight traffic.