Spirit AeroSystems (SPR) Beats Q1 Earnings, Lags Revenues

Zacks Equity Research
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Wichita, KS-based Spirit AeroSystems Holdings SPR is a manufacturer and supplier of large aircraft structures. Commercial aircraft manufacturer, Boeing, has to depend on Spirit AeroSystems for bare fuselages of its 737 and 787 airplanes. In addition, Spirit AeroSystems contributes to other commercial and defense programs.

Estimate Revision Trend

Investors should note the earnings estimate revisions for Spirit AeroSystems. The Zacks Consensus Estimate has remained stable over the last 7 days.

Spirit AeroSystems has reported positive earnings surprises in three of the last four quarters with an average beat of 4.20%.

Zacks Rank

Currently, Spirit AeroSystems has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report which was just released. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: Spirit AeroSystems surpassed earnings estimates for the first quarter of 2016. Our consensus called for EPS of     $1.06, and the company reported adjusted EPS of $1.29.

Revenue: The company, however, missed on revenues. Spirit AeroSystems posted revenues of $1,682 million compared to our consensus estimate of $1,700 million.

Key Developments to Note

Backlog in the reported quarter decreased to $46 billion from $47 billion in the preceding quarter.

Spirit AeroSystems maintained its earnings for 2016 in the range of $4.15−$4.35 per share on revenues in the range of $6.6 billion to $6.7 billion.

Check back later for our full write up on this Spirit AeroSystems earnings report later!

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