Spirit Aerosys Stock Price, News & Analysis

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.

Spirit AeroSystems has appointed Mindy McPheeters as Senior Vice President, General Counsel, and Corporate Secretary, effective immediately. McPheeters, who previously served as Interim General Counsel and Vice President, Deputy General Counsel, will now be part of the Executive Leadership Team and report directly to Tom Gentile, CEO. With six years at Spirit, McPheeters has extensive experience in various legal roles. Her appointment aligns with Spirit's strategy to diversify its operations within the aerospace sector.

Spirit AeroSystems (NYSE: SPR) announced that Mark Suchinski, Senior Vice President and CFO, will speak at the J.P. Morgan Industrials Conference on March 16, 2021, at 5:20 p.m. ET. The presentation will be available via a webcast, with access recommended beforehand to ensure proper configuration. An audio replay of the session will be accessible for 30 days post-presentation.

Spirit AeroSystems focuses on manufacturing aerostructures for commercial and defense aircraft and operates globally from its headquarters in Wichita, Kansas.

Spirit AeroSystems reported a challenging year in 2020 marked by a significant decline in revenues and losses due to the 737 MAX grounding and COVID-19. Q4 revenues fell 55% to $877 million, while full-year revenues dropped 57% to $3.4 billion. The operating loss for Q4 2020 was $101 million, with a full-year loss of $813 million. Spirit ended the year with $1.9 billion in cash, having raised $2.1 billion in secured debt and reduced staff by 8,000 to cut costs by $1 billion. The company acquired select Bombardier assets to diversify its business.

Spirit AeroSystems announced the full redemption of $300 million in Senior Floating Rate Notes due 2021. The redemption will occur on February 24, 2021, at a price of 100% of the principal plus accrued interest. A notice was sent to all registered holders on February 12, 2021. The company, a leader in aerostructures for the aerospace industry, continues to navigate challenges, including the impact of COVID-19 and reliance on major clients like Boeing and Airbus. Stakeholders are advised to consider the risks outlined in the press release regarding future performance.

Sproutly Canada has updated its partnership with CannaHive Inc. through a revised Letter of Intent, broadening their agreement beyond cannabis dissolvable powder to include the production of cannabis-infused confectionaries at Toronto Herbal Remedies' licensed facility. This expansion aims to maximize production capabilities for quality infused products in the Canadian market. Both companies expressed optimism about leveraging their technologies, anticipating enhanced customer experiences and increased market presence.

Spirit AeroSystems (SPR) will announce its fourth quarter and full-year 2020 financial results on February 23, 2021, at 6:30 a.m. Central Time. The presentation, led by CEO Tom Gentile and CFO Mark Suchinski, will include a conference call for analysts at 10 a.m. Central Time. It will be streamed online and feature charts and a Q&A session, allowing stakeholders to engage with the company's outlook. Spirit AeroSystems specializes in manufacturing aerostructures for commercial and defense aviation, with operations spanning multiple countries.

NASA has awarded FMI, a subsidiary of Spirit AeroSystems (NYSE: SPR), a contract for thermal protection systems (TPS) for key exploration missions, including Mars Sample Return and Dragonfly. These projects require ablative TPS materials for ground testing and flight. FMI will supply PICA and a new innovation called 3MDCP for the missions. With this contract, NASA recognizes FMI's capabilities and trust in delivering high-quality products for future missions, such as returning the first samples from Mars and studying Titan's atmosphere.