Spirit AeroSystems Q1 loss $5.31/sh; revenue $1.7B; forward losses $495M; Boeing acquisition talks ongoing

Spirit AeroSystems Holdings, Inc.

2024-Q1 EPS reported -$5.31 revenue$1,702,800,000

EPS $(5.31) (adjusted $(3.93)), revenue $1.7B (+19% YoY), operating loss $(528)M.
Forward losses of $495.4M, mainly A350 ($280.8M) and A220 ($167.0M).
Cash from operations $(416)M, FCF $(444)M; cash balance $352M vs $824M Dec 31.
Boeing 737 rate ~31/mo through year-end; delivery delays increased inventory; $425M Boeing cash advance received Q2.
No guidance provided; expect incremental $50-60M forward loss in Q2 from 787 schedule change.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Spirit AeroSystems Holdings, Inc. reported three month period ended March 28, 2024 results: revenue $1.7 billion, net income ($617) million, EPS ($5.31); Adjusted EPS* of ($3.93).

Period: three month period ended March 28, 2024
Revenue: $1.7 billion
Net income: ($617) million
EPS: ($5.31); Adjusted EPS* of ($3.93)
Result: reported results

Exact text from the filing

--- Spirit AeroSystems Holdings, Inc. 3801 S. Oliver Wichita, KS 67210 www.spiritaero.com Spirit AeroSystems Reports First Quarter 2024 Results First Quarter 2024 • Revenues of $1.7 billion • EPS of $(5.31); Adjusted EPS* of $(3.93) • Cash used in operations of $416 million; Free cash flow* usage of $444 million • Currently engaged in discussions with Boeing on the

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Source: SEC EDGAR

accession 0001628280-24-020855

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