Spirit Aerosys Stock Price, News & Analysis

Spirit AeroSystems Holdings, Inc. (NYSE: SPR) CEO Tom Gentile will participate in a virtual presentation at the Bernstein 37th Annual Strategic Decisions Conference on June 3, 2021, at 4:30 p.m. (ET). Investors can access the live webcast via the company’s investor relations website. An audio replay will be available for a year after the event. Spirit AeroSystems is a leading manufacturer of aerostructures for commercial and defense aircraft, specializing in aluminum and composite solutions, with facilities worldwide.

Spirit AeroSystems' CEO, Tom Gentile, will present virtually at the Goldman Sachs Industrials & Materials Conference on May 12, 2021, at 2:40 p.m. ET. Interested participants can access the webcast at investor.spiritaero.com. A replay will be available for a year post-presentation. Spirit AeroSystems, a major player in aerostructures for commercial and defense aviation, operates globally from locations including the U.S., U.K., and France, specializing in manufacturing components such as fuselages and wings.

Spirit AeroSystems reported Q1 2021 revenue of $901 million, down 16% from $1,077 million in Q1 2020. The company delivered 269 shipsets, including 29 737 MAX shipsets, with expectations to deliver about 160 737 MAX shipsets in 2021. Cash used in operations was $(170) million, an improvement from $(331) million in the prior year. The adjusted EPS for Q1 2021 was $(1.22) compared to $(0.79) in Q1 2020. Spirit's backlog remains strong at approximately $33 billion, primarily in narrowbody aircraft, despite ongoing challenges in the widebody segment.

Spirit AeroSystems Holdings, Inc. (NYSE: SPR) has declared a quarterly cash dividend of $0.01 per share on its common stock. The dividend is payable on July 6, 2021, to stockholders of record by the close of business on June 14, 2021. This announcement highlights the company's commitment to returning value to shareholders amidst its operations in manufacturing aerostructures for various aircraft platforms.

Spirit AeroSystems (NYSE: SPR) announced a joint venture with Evergreen Aviation Technologies Corporation (EGAT) to enhance its aftermarket services in the Asia-Pacific region. This partnership aims to meet the increasing demand for maintenance, repair, and overhaul (MRO) services, and is expected to complement Spirit's recent acquisitions of Applied Aerodynamics and Bombardier assets. The new joint venture, Spirit Evergreen Aftermarket Solutions (SEAS), will leverage EGAT's local expertise to provide efficient repairs for fleet operators. The agreement is subject to foreign investment approval.

Spirit AeroSystems (NYSE: SPR) has acquired the assets of Applied Aerodynamics, a Texas-based composite maintenance, repair, and overhaul (MRO) company. This strategic acquisition, which includes a 120,000-square-foot facility, enhances Spirit's MRO infrastructure and expertise, enabling the company to offer a broader range of services for various aircraft models. The move aims to reduce costs and improve turnaround times for customers, facilitating greater competitiveness within the market as the aviation industry rebounds post-pandemic.

Spirit AeroSystems (NYSE: SPR) Belfast will lead Team MOSQUITO, collaborating with Northrop Grumman and Intrepid Minds, to advance the UK Ministry of Defence's Lightweight Affordable Novel Combat Aircraft (LANCA) project. The initiative is expected to support over 100 STEM jobs and potentially enhance the UK's defence capabilities. By leveraging advanced manufacturing and digital applications, the team aims to create a lightweight, uncrewed aircraft that promises reduced maintenance and fuel consumption. This collaboration aligns with the MOD's strategic goals and aims to strengthen the UK industrial base.

Spirit AeroSystems (NYSE: SPR) will announce its first quarter 2021 financial results on May 5, 2021, at 6:30 a.m. Central Time. President and CEO Tom Gentile, CFO Mark Suchinski, and COO Sam Marnick will discuss the results on a conference call at 10 a.m. Central Time. The call will include a Q&A session and will be available via an online audio stream. Interested parties are encouraged to check the company’s website for access details before the event.

Sproutly Canada has successfully closed the first tranche of a financing round, securing $552,500 from the issuance of 11,050,000 units at $0.05 each. Each unit comprises one common share and one warrant, allowing for the purchase of additional shares at $0.07 over two years. The funds will be used for working capital, and the placement awaits approval from the Canadian Securities Exchange. Additionally, the company paid $24,862.50 in finder's fees through unit issuance. Sproutly aims to lead in cannabis beverage ingredients.