Boeing to book $124 million after-tax charge in Q2 after court rules against it in Wichita sale case [MarketWatch]
Spirit Aerosystems Holdings, Inc. (SPR)
Last spirit aerosystems holdings, inc. earnings: 2/28 07:30 am
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Source: MarketWatch
Boeing to book $124 million after-tax charge in Q2 after court rules against it in Wichita sale case The Boeing Co. BA, +1.35% said Friday it will recognize a $124 million after-tax charge in the second quarter, after a court ruled against it in a case involving the 2005 sale of its production facilities in Wichita, Kansas. The aerospace giant said the Delaware Supreme Court ruled that it is not entitled to recover certain costs associated with the sale of the facilities to Spirit Aerosystems. Boeing filed a suit against Spirit in 2014 seeking to enforce its right to indemnification and recover sums incurred to cover pension and retiree medical obligations. When it lost that case, it filed an appeal with the state's supreme court. The charge will not impact revenue or free cash flow. Boeing shares were up 1.1% on Friday, and have gained 18.6% in 2018, while the Dow Jones Industrial Average DJIA, +0.36% has gained 1.2% and the S&P 500 SPX, +0.10% has gained 4.8%.
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News
- Senate inquiries into Boeing safety lapses begin [Yahoo! Finance]Yahoo! Finance
- Boeing Engineer Says 787 Fleet Worldwide Needs Attention [Yahoo! Finance]Yahoo! Finance
- Boeing Whistleblower Sam Salehpour Will Testify Before Senate Wednesday—Here's What To Know [Forbes]Forbes
- Spirit AeroSystems Holdings, Inc. (NYSE: SPR) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $26.00 to $31.00. They now have a "neutral" rating on the stock.MarketBeat
- Spirit AeroSystems limits overtime, hiring as Boeing 737 production dips - Reuters [Seeking Alpha]Seeking Alpha
SPR
Earnings
- 2/6/24 - Miss
SPR
Sec Filings
- 4/10/24 - Form SC
- 4/1/24 - Form SC
- 3/29/24 - Form 3
- SPR's page on the SEC website