Spirit Aerosystems ( (SPR) ) has released its Q4 earnings. Here is a breakdown of the information Spirit Aerosystems presented to its investors.
Spirit AeroSystems Holdings, Inc., a leading manufacturer in the aerospace sector, specializes in the production of aerostructures for commercial and defense aircraft. The company is known for its extensive work with major aerospace players like Boeing and Airbus.
In its fourth quarter 2024 earnings report, Spirit AeroSystems reported revenues of $1.7 billion, with a significant operating loss and negative earnings per share. The company highlighted ongoing improvements in operations and increased deliveries across several aircraft models, despite financial challenges.
Key financial metrics revealed a decrease in revenue compared to the previous year, largely due to adjustments related to agreements with Boeing. The company faced substantial net forward losses, particularly in its Boeing 787 and Airbus programs, and reported a significant operating loss. However, cash flow from operations improved, aided by customer advances from Boeing and Airbus.
Looking forward, Spirit AeroSystems is focused on improving liquidity and operational efficiency as it prepares for its anticipated acquisition by Boeing in mid-2025. The company is actively working on strategies to enhance its financial position and ensure a smooth transition post-acquisition.