Spirit posts quarterly loss on pandemic, 737 MAX pain [Reuters]
Last spirit aerosystems holdings, inc earnings: 2/28 07:30 am
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US:NYSE Investor Relations: investor.spiritaero.com
By Reuters Staff 2 Min Read (Reuters) - Spirit AeroSystems Holdings Inc reported a quarterly loss on Tuesday, hurt by fewer aircraft part shipments to top customers Boeing Co and Airbus SE following a slump in demand for air travel due to the COVID-19 pandemic. Spirit stands to benefit from the recovery of Boeing’s 737 MAX jet, which was ungrounded by the U.S. Federal Aviation Administration in November after a 20-month ban. The MAX accounted for about 50% of Spirit’s sales in 2019. Analysts expect a material improvement in air travel in 2021 with narrowbody aircraft deliveries poised to ramp up, providing a boost for the company. Spirit’s total deliveries of shipsets, or complete sets of parts, fell 48.9% to 231 units in the fourth quarter. Total revenue decreased 55.3% to $876.6 million. The company posted a loss of $295.9 million, or $2.85 per share, in the fourth quarter ended Dec. 31, compared with a profit of $67.7 million, or 65 cents per share, a year earlier. On an adjusted
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- Spirit AeroSystems Holdings, Inc. (<a href="https://www.marketbeat.com/stocks/NYSE/SPR/price-target/">NYSE: SPR</a>) was upgraded by analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating. They now have a $50.MarketBeat
- Spirit AeroSystems Holdings, Inc. (<a href="https://www.marketbeat.com/stocks/NYSE/SPR/price-target/">NYSE: SPR</a>) was upgraded by analysts at Susquehanna from a "neutral" rating to a "positive" rating.MarketBeat
- Spirit Chief Financial Officer Speaking at the Virtual J.P. Morgan Industrials ConferencePR Newswire
- Spirit AeroSystems Holdings, Inc. (<a href="https://www.marketbeat.com/stocks/NYSE/SPR/price-target/">NYSE: SPR</a>) had its price target raised by analysts at Canaccord Genuity from $46.00 to $50.00. They now have a "buy" rating on the sMarketBeat
- Spirit AeroSystems Holdings, Inc. (<a href="https://www.marketbeat.com/stocks/NYSE/SPR/price-target/">NYSE: SPR</a>) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "overweight" rating.MarketBeat
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SPR
SEC Filings
- 3/8/21 - Form 4
- 3/8/21 - Form 4
- 3/8/21 - Form 4
- SPR's page on the SEC website
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