Spirit AeroSystems Holdings
The 10-second takeaway
For the quarter ended Sep. 27 (Q3), Spirit AeroSystems Holdings met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Spirit AeroSystems Holdings recorded revenue of $1.37 billion. The 16 analysts polled by S&P Capital IQ expected sales of $1.36 billion on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $1.13 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.05. The seven earnings estimates compiled by S&P Capital IQ forecast $0.54 per share. GAAP EPS were -$0.96 for Q3 against $0.47 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was -27.9%, 4,270 basis points worse than the prior-year quarter. Operating margin was -15.4%, 2,610 basis points worse than the prior-year quarter. Net margin was -9.8%, 1,580 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.41 billion. On the bottom line, the average EPS estimate is $0.60.
Next year's average estimate for revenue is $5.38 billion. The average EPS estimate is $2.02.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 313 members out of 330 rating the stock outperform, and 17 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 87 give Spirit AeroSystems Holdings a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spirit AeroSystems Holdings is outperform, with an average price target of $29.00.
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