Spirit Aerosystems: 2Q Earnings Snapshot

KNSS News
August 04, 2020 - 8:12 am
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Spirit Aerosystems Holdings Inc. (SPR) on Tuesday reported a second-quarter loss of $255.9 million, after reporting a profit in the same period a year earlier.

The Wichita, Kansas-based company said it had a loss of $2.46 per share. Losses, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $2.28 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.19 per share.

The aircraft parts maker posted revenue of $644.6 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $806.3 million.

Spirit Aerosystems shares have fallen 73% since the beginning of the year. The stock has declined 74% in the last 12 months.

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