|Bid||0.00 x 2200|
|Ask||79.00 x 800|
|Day's Range||74.49 - 77.20|
|52 Week Range||64.48 - 100.34|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||11.90|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||0.48 (0.62%)|
|1y Target Est||93.56|
Boeing is reportedly eyeing a quick return to pre-grounding output levels on the 737 MAX once it is back in service.
Shares of the Boeing Co. were rising on Wednesday after the manufacturer sent a signal that it is preparing for life after the grounding of its 737 MAX. The company has said previously that it intends to hand over its package of software and training updates to global regulators in September in hopes of the jet being cleared to fly again early in the fourth quarter. That’s an important timeline for production work in Wichita, as Boeing CEO Dennis Muilenburg has said that a delay too far beyond that target could result in decrease on the 737 MAX program or even a temporary halt to it altogether. The 737 MAX accounts for around half of the annual sales at Spirit, which is itself holding excess components on the aircraft, including the full fuselage, in inventory and delivering them to Boeing as requested. Boeing has lowered its output on the 737 MAX to 42 aircraft per month, while Spirit has stayed at the pre-grounding rate of 52 per month as part of a staggered production agreement between the companies. Spirit is Wichita's largest employer with 13,000 local workers.
Boeing is delaying development of its 777-8 as the other member of the new 777X family, the larger 777-9, has seen its first flight-target date slip into early next year.
Hoover, a 12-year veteran at Spirit, now holds one of the highest-profile positions in her industry. And she's using the platform to help other women succeed in engineering.
Boeing this week reported that it delivered just 19 commercial aircraft in July, as the grounding of its high-volume 737 MAX continues.
I've been keeping an eye on Spirit AeroSystems Holdings, Inc. (NYSE:SPR) because I'm attracted to its fundamentals...
Koch Industries Inc. once again has the best-known brand in Kansas. That’s according to the sixth annual brand-power survey, released by Wichita-based RSM Marketing Services. The results were based off an online survey conducted earlier this month in collaboration with the Wichita Consumer Research Center. It asked 1,000 Kansans to name the three brands from the state they thought were the most well-known around the country. “Over the past six years, we’ve seen Koch Industries go from non-existent on our survey to holding the top spot the last three years,” RSM’s managing partner, Bruce Rowley, says in a press release. Many of the mentions are clearly referring to ‘Koch Industries,’ while others refer to the political activities of the ‘Koch Brothers.’” Aviation once again had a strong showing, including the continued addition of the Boeing Co. (NYSE: BA), which along with the likes of Pizza Hut, Coleman Co. (both founded in Wichita) and Frito Lay, remain brands still strongly associated with the state despite not being based in Kansas. Also in aviation were the Cessna and Beechcraft brands of Textron Inc. (NYSE: TXT) division Textron Aviation, along with the first appearance by Spirit AeroSystems Inc. (NYSE: SPR), all of Wichita. “This year it was exciting to see five brands make their first appearance in the Top 25,” says Mike Snyder, managing partner at RSM.
Despite unexpected production challenges, Spirit AeroSystems is still preparing for future workforce demand.
Boeing CEO Dennis Muilenburg expressed optimism over the 737 MAX’s Q4 return to service. Boeing plans to submit the MAX certification packages next month.
Airbus is widening its delivery lead on the Boeing Co., as its rival continues to wrestle with the fallout from the grounding of its 737 MAX. The European manufacturer has reported July totals of 69 aircraft deliveries and 33 gross orders to give it 458 deliveries and 79 net orders through the first seven months of the year. The net order total was down nine aircraft from the end of June after cancellations, narrowing Airbus' sales lead, as both planemakers have struggled to firm up sales in 2019 after years of unprecedented demand. Boeing (NYSE: BA) has yet to report its July totals, but ended June with 239 deliveries and an order deficit of 119 aircraft after cancellations and accounting adjustments. Deliveries are especially important to the manufacturers' bottom lines, as they are the point at which the bulk of an aircraft order is paid.
Spirit AeroSystems Inc. in Wichita has been planning for a variety of production outcomes on the MAX, all dependent on when the aircraft returns to service.
Over the past five trading sessions, the defense biggies put up a dismal show, with General Dynamics and Textron losing the most.
While Boeing is covering the cost for other fixes, the Air Force has estimated it will spend more than $300 million for its portion of work still needed on the aircraft.
Airbus on Monday announced that it has begun production of its A220 aircraft at its facility in Mobile, Ala. That facility, which originally opened in 2015 and maintains close ties to Airbus Americas Engineering in Wichita, is also home to production of the company’s A230 narrow-body aircraft. The A220 was formerly the Bombardier C Series, a commercial jet that underwent much of its flight testing work from Bombardier’s facility in Wichita. Boeing subsequently announced a joint venture with Brazil’s Embraer, seen by industry observers as a counter to Airbus’ quick push into the smaller end of the lucrative narrow-body market via the 100- to 150-seat A220.
The Puget Sound Business Journal has obtained land-use documents indicating plans for a $132.9 million expansion project in Renton, Wash.
Spirit is among 13 companies announced this week that will partner with NASA on various projects, all feeding efforts to return to the moon by 2024 and a later journey to Mars.
CEO Tom Gentile said the company is also preparing for a possible output reduction or temporary halt on the 737 from Boeing.
Spirit Aerosystems (SPR) delivered earnings and revenue surprises of 4.27% and 1.69%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Spirit AeroSystems Inc. beat Wall Street expectations for both revenue and earnings per share in the second quarter on its way to posting a 16-percent increase in profit. Spirit (NYSE: SPR) on Wednesday morning reported revenues of $2.02 billion in the second quarter, up 10 percent year over year and topping analyst expectations of $1.98 billion. Meanwhile, the increase in net income, which rose to $168 million, translated to adjusted earnings per share of $1.71. Analysts had expected gains from Spirit in the second quarter despite the grounding of the Boeing Co.’s 737 MAX, which accounts for nearly 50 percent of its annual revenue. That’s because of the staggered production agreement Spirit has with Boeing (NYSE: BA), which has it continuing to build at the pre-grounding rate of 52 aircraft per month on the 737 and — most importantly for its bottom line — still being paid for the work in excess of Boeing’s own lowered output of 42 a month.
Spirit AeroSystems beat Wall Street estimates for quarterly profit on Wednesday, as Boeing's biggest supplier continued to make and sell parts for the planemaker's grounded 737 MAX while demand for other aircraft held up. Brokerage Jefferies said a rise in demand for parts for Boeing's 777 and the Airbus A350 had helped boost revenue, as the MAX groundings slipped into the second half of 2019. Spirit followed Boeing earlier this year in suspending its full-year outlook after the second deadly 737 MAX crash, but it has continued to churn out parts for the jet at a rate of up to 52 units per month, even as Boeing cut its own production to 42 per month.