Spirit AeroSystems (SPR) PT Raised to $35 at RBC Capital
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Go back to Spirit AeroSystems (SPR) PT Raised to $35 at RBC Capital
May 7, 2024 7:42 AM EDT
Spirit AeroSystems (NYSE: SPR) saw its shares tumble 4.6% in premarket trading Tuesday, after the company reported a much worse-than-expected quarterly loss.
In particular, the firm posted a Q1 loss per share of $3.93, significantly missing analysts' estimate of a $0.57 loss. Quarterly revenue reached $1.7 billion, surpassing the... More
May 7, 2024 7:33 AM EDT
By Abhijith Ganapavaram and Allison Lampert
(Reuters) -Embattled aerospace supplier Spirit AeroSystems said it may tap financial markets for cash after posting heavy losses and burning through more cash than expected in a first quarter dominated by turmoil at top customer Boeing.
Spirit, which was spun off from Boeing nearly 20 years ago, has been losing money for several years. Following the Jan. 5 panel blowout on a 737 MAX, the two parties have been in talks to recombine.
Spirit's cash on hand dropped to $352 million from $824 million at December end. The company posted a net loss of $617 million and... More
May 7, 2024 7:33 AM EDT
Spirit AeroSystems (NYSE: SPR) reported Q1 EPS of ($3.93), $3.36 worse than the analyst estimate of ($0.57). Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.62 billion.
2024 Financial Outlook
Spirit will not be providing guidance until there is further clarity on the acquisition... More
