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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." 

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9/27/2016 4:02 PM
SPR $44.14 Up +0.26 +0.59%
Spirit AeroSystems… CAPS Rating: **