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Spirit AeroSystems (SPR) Misses on Q1 Earnings, Tops Sales

Zacks Equity Research
Updated

Wichita, KS-based Spirit AeroSystems Holdings, Inc. SPR is a manufacturer and supplier of large aircraft structures. Commercial aircraft manufacturer, Boeing, has to depend on Spirit AeroSystems for bare fuselages of its 737 and 787 airplanes. In addition, Spirit AeroSystems contributes to other commercial and defense programs.

Estimate Revision Trend

Investors should note the earnings estimate revisions for Spirit AeroSystems. The Zacks Consensus Estimate has remained unchanged over the last 7 days.

Spirit AeroSystems has reported positive earnings surprises in two of the last four quarters with an average beat of 9.76%.

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Zacks Rank

Currently, Spirit AeroSystems carries a Zacks Rank #3 (Hold), but that could definitely change following its first quarter 2018 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: Spirit AeroSystems earnings figure missed the Zacks Consensus Estimate for the first quarter earnings. Our consensus called for EPS of $1.35 and the company reported EPS of $1.10.

Revenue: The company surpassed our estimate for revenues. Spirit AeroSystems posted revenues of $1.74 billion compared to our consensus estimate of $1.70 billion.

Spirit Aerosystems Holdings, Inc. Price and EPS Surprise

Spirit Aerosystems Holdings, Inc. Price and EPS Surprise | Spirit Aerosystems Holdings, Inc. Quote

Key Developments to Note

Backlog in the reported quarter was $47 billion, in line with the prior quarter’s figure.

Spirit AeroSystems reiterated its financial guidance for 2018. The company continues to expect to generate earnings in the range of $6.25–$6.50.

Stock Price: In the pre-market trading session, Spirit AeroSystems’ first quarter results made no significant impact on its share price. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.

Check back later for our full write up on this Spirit AeroSystems earnings report later!

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