Spirit Aerosystems Posts Q2 Beat

Spirit Aerosystems Holdings shares were up 10%, on track to hit a new record high in regular trade, after the company reported early Wednesday financial results for Q2, with better-than-expected earnings and revenue; it also provided guidance for fiscal 2017 in line to above Street estimates. For the quarter ended June 29, the aircraft parts designer and manufacturer of commercial aero-structures posted adjusted earnings of $1.57 per share, compared with the prior-year period’s $1.21 per share. Analysts polled by Capital IQ were expecting EPS of $1.21.

Revenue was $1.83 billion, flat with the same quarter last year. The Street view was for revenue of $1.74 billion. The company expects fiscal 2017 EPS of $5.00 – $5.25 versus the Street view of $4.82. The previous guidance range was for $4.60 – $4.85. For revenue, the company continues to expect $6.8 billion – $6.9 billion, straddling the Street view of $6.88 billion.

Leave a Comment