Spirit AeroSystems (Almost) Reports Earnings

Shares of Wichita, Kan.-based Spirit AeroSystems (NYSE: SPR  ) slipped 3% in Tuesday trading, after the company announced it is postponing the release of its second-quarter earnings announcement. Spirit said the decision was necessitated by the fact that its auditors have not yet completed the review of the company's financials for last quarter.

That said, Spirit did tell investors what to expect when it does file its official earnings release. Q3 2012 revenues are expected to be up 13% at $1.5 billion, helped by higher production volumes. Revenue growth may continue in the future, as Spirit notes that its backlog of work to be done is increased by $2 billion to $38 billion.

As for earnings, Spirit noted that its operating performance would have "improved" in Q2, but for the fact that the company had to record between $350 million and $400 million in pre-tax charges related to "Gulfstream business jet programs."

In related news, Spirit advised that it is now in the process of divesting its Oklahoma operations, including facilities in Tulsa and McAlester, "part of the broader strategic and financial review announced by the company in May of 2013." 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2582548, ~/Articles/ArticleHandler.aspx, 11/27/2014 8:46:38 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement