Spirit AeroSystems (SPR) Dips as Executives Discuss Q3 Charges, Settlement, EPS Impact
Spirit AeroSystems Holdings Inc. Cl A (NYSE: SPR) is continuing lower as management issues comments on previously updated expectations for third-quarter impairments.
The company said the majority of the charge is forward-looking costs. The 787 charge is related to wing components. The company had to delay some Boeing (NYSE: BA) 787 shipments.
The company is meeting agreed-to deliveries on 787.
In all, the charges and settlement have a $1.82 EPS impact.
CEO Jeff Turner and CFO Philip Anderson spoke on the call today. Shares are down 30 percent, from being down 23 percent earlier.
The company said the majority of the charge is forward-looking costs. The 787 charge is related to wing components. The company had to delay some Boeing (NYSE: BA) 787 shipments.
The company is meeting agreed-to deliveries on 787.
In all, the charges and settlement have a $1.82 EPS impact.
CEO Jeff Turner and CFO Philip Anderson spoke on the call today. Shares are down 30 percent, from being down 23 percent earlier.