Spirit AeroSystems (SPR) Misses Q3 EPS by 5c; Raises Outlook

Spirit AeroSystems (NYSE: SPR) reported Q3 EPS of $0.89, $0.05 worse than the analyst estimate of $0.94. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.66 billion.

Spirit AeroSystems raises FY2015 EPS to $3.80-$3.95, versus the consensus of $3.90.

"Preparing for production rate increases has been one of our top priorities this year. We are executing to plan on rate increases for the 737, A320, 787 and A350. We are managing the ramp up with great detail to address the full value chain and protect our gains in quality," said President and Chief Executive Officer Larry Lawson.

"We are confident about the long term outlook for our business and the health of our balance sheet," Lawson added.

"With regard to capital deployment, in the second quarter we announced a share repurchase program of $350 million. In the third quarter, we repurchased 924,000 shares for $46 million," Lawson concluded.

For earnings history and earnings-related data on Spirit AeroSystems (SPR) click here.

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