WICHITA, Kan., May 1, 2025 /PRNewswire/ -- First Quarter 2025 Revenues of $1.5 billionEPS of $(5.21); Adjusted EPS* of $(4.25)Cash used in operations of $420 million; Free cash flow* usage of $474 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported first quarter 2025 financial results. Revenue Spirit's revenue in the first quarter of 2025 decreased from the same period of 2024, primarily due to lower production activity on most Boeing programs, particularly the Boeing 737 program. For the Boeing 737 program, production

WICHITA, Kan., Feb. 28, 2025 /PRNewswire/ --  Fourth Quarter 2024 Revenues of $1.7 billionEPS of $(5.38); Adjusted EPS* of $(4.22)Cash provided by operations of $137 million; Free cash flow* of $91 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported fourth quarter and full-year 2024 financial results. "As we advance toward the anticipated close of the acquisition by Boeing in mid-2025, we continue to make meaningful progress on several key fronts," said Pat Shanahan, President and Chief Executive Officer, Spirit AeroSy

WICHITA, Kan., Oct. 23, 2024 /PRNewswire/ -- Third Quarter 2024 Revenues of $1.5 billionEPS of $(4.07); Adjusted EPS* of $(3.03)Cash used in operations of $276 million; Free cash flow* usage of $323 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported third quarter 2024 financial results. "We remain on track to close the acquisition by Boeing in mid-2025, while also continuing to focus on safety, compliance and quality," said Pat Shanahan, President and Chief Executive Officer, Spirit AeroSystems. "Our process improvem

WICHITA, Kan., Aug. 5, 2024 /PRNewswire/ --   Second Quarter 2024 Revenues of $1.5 billionEPS of $(3.56); Adjusted EPS* of $(2.73)Cash used in operations of $566 million; Free cash flow* usage of $597 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported second quarter 2024 financial results. "This has been a dynamic and eventful period for the company, and I want to extend my gratitude to each employee for their dedication and hard work," said Pat Shanahan, President and Chief Executive Officer, Spirit AeroSystems. "Th

WICHITA, Kan., July 22, 2024 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will release its second quarter 2024 financial results after the close of the market on Monday, August 5, 2024, which will be published on the Company's website at http://investor.spiritaero.com/.  In light of the recent announcement of the merger agreement with The Boeing Company, Spirit has suspended quarterly earnings conference calls. About Spirit AeroSystems, Inc. Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platfo

WICHITA, Kan., April 26, 2024 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will release its first quarter 2024 financial results at 6:30 a.m. Central Daylight Time Tuesday, May 7, 2024. Spirit AeroSystems President and Chief Executive Officer Pat Shanahan will be joined by Spirit's Senior Vice President and Chief Financial Officer Mark Suchinski on a conference call presentation to securities analysts about first quarter 2024 results and company outlook at 10 a.m. Central Daylight Time. That presentation will be broadcast online. It will include charts and a qu

WICHITA, Kan., Feb. 6, 2024 /PRNewswire/ --  Fourth Quarter 2023 Revenues of $1.8 billionEPS of $0.52; Adjusted EPS* of $0.48Cash provided by operations of $113 million; Free cash flow* of $42 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported fourth quarter and full-year 2023 financial results. Table 1.  Summary Financial Results (unaudited) 4th Quarter Twelve Months ($ in millions, except per share data) 2023 2022 Change 2023 2022 Change Revenues $1,813 $1,320 37 % $6,048 $5,030 20 % Operating Income (Loss) $198 ($1

WICHITA, Kan., Jan. 18, 2024 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will release its fourth quarter and full-year 2023 financial results at 6:30 a.m. Central Standard Time on Tuesday, Feb. 6, 2024. Spirit AeroSystems President and Chief Executive Officer Pat Shanahan will be joined by Spirit's Senior Vice President and Chief Financial Officer Mark Suchinski on a conference call presentation to securities analysts about fourth quarter and full-year 2023 results and company outlook at 10 a.m. Central Standard Time. That presentation will be broadcast online

Patrick M. Shanahan Appointed Interim President and Chief Executive Officer        Thomas C. Gentile III No Longer Serves as President, Chief Executive Officer and Director Company to Release Third Quarter Financial Results November 1, 2023 WICHITA, Kan., Oct. 2, 2023 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) (together with its subsidiary, Spirit AeroSystems, Inc., the "Company," "Spirit" or "Spirit AeroSystems") today announced that Patrick M. Shanahan, a member of the Company's Board of Directors (the "Board"), has been appointed interim President and Chief Executive Officer, effective immediately. Mr. Shanahan succeeds Thomas C. Gentile III as President and Chief Execu

WICHITA, Kan., Aug. 2, 2023 /PRNewswire/ -- Second Quarter 2023 Revenues of $1.4 billionEPS of $(1.96); Adjusted EPS* of $(1.46)Cash used in operations of $183 million; Free cash flow* usage of $211 millionCompleted rework related to the vertical fin attach fittings issue on available units in WichitaRatified new four-year contract with the International Association of Machinists and Aerospace Workers (IAM)Spirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit" or the "Company") reported second quarter 2023 financial results. Table 1.  Summary Financial Results (unaudited) 2nd

Allegion plc (NYSE:ALLE), a leading global security products and solutions provider, has appointed Stacy Cozad as senior vice president, general counsel and corporate secretary, effective Aug. 5, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240701071652/en/Stacy Cozad (Photo: Business Wire) In this role, Cozad will have responsibility for Allegion's global legal affairs, trade compliance, enterprise risk management and corporate communications functions. She will succeed Jeff Braun, who has announced plans to retire on Dec. 31, 2024, and will serve as an advisor during the transition. Cozad has nearly 30 years of exper

Enters into Term Sheet for Airbus to Assume Ownership of Certain Airbus Program Assets WICHITA, Kan., July 1, 2024 /PRNewswire/ -- Spirit AeroSystems (NYSE:SPR) ("Spirit") today announced it has entered into a definitive merger agreement under which The Boeing Company (NYSE:BA) ("Boeing") will acquire Spirit for $37.25 per share in Boeing common stock (subject to the collar described below). At $37.25 per share, this represents an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion including Spirit's last reported net debt. The price of $37.25 per share represents a 30% premium to Spirit's closing stock price of $28.60 on February 29, 2024, the da

- Demonstrates commitment to aviation safety, improves quality for Boeing Commercial Airplanes- Leverages Boeing enterprise engineering and manufacturing capabilities - Maintains continuity for key U.S. defense and national security programs- Supports supply chain stability and critical manufacturing workforce- Provides long-term value for commercial and defense customers, employees and shareholders ARLINGTON, Va., July 1, 2024 /PRNewswire/ -- Boeing (NYSE:BA) today announced it has entered into a definitive agreement to acquire Spirit AeroSystems (NYSE:SPR). The merger is an all-stock transaction at an equity value of approximately $4.7 billion, or $37.25 per share. The total transaction va

Announces Planned Retirements of Chairman Thomas O. Barnes and Lead Independent Director Mylle H. Mangum, and appointment of Richard Hipple as Chair Elect Appoints Irenic Capital Management Co-Founder Adam Katz to the Board Enters into Cooperation Agreement with Irenic Capital Management Barnes Group Inc. (NYSE:B), a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, today announced the planned retirements of Chairman Thomas O. Barnes and Lead Independent Director Mylle H. Mangum, consistent with the Company's corporate governance retirement policy, effective at the Company's Annual Meeting of Stockholders in May 2024. Mr.

The Benchmark Company downgraded Spirit Aerosystems from Buy to Hold

TD Cowen upgraded Spirit Aerosystems from Market Perform to Outperform and set a new price target of $35.00 from $27.00 previously

Citigroup initiated coverage of Spirit Aerosystems with a rating of Buy and set a new price target of $39.00

KeyBanc Capital Markets initiated coverage of Spirit Aerosystems with a rating of Sector Weight

Morgan Stanley upgraded Spirit Aerosystems from Underweight to Equal-Weight and set a new price target of $35.00 from $22.00 previously

Stifel initiated coverage of Spirit Aerosystems with a rating of Hold and set a new price target of $28.00

Robert W. Baird upgraded Spirit Aerosystems from Neutral to Outperform and set a new price target of $36.00 from $30.00 previously

Wolfe Research upgraded Spirit Aerosystems from Peer Perform to Outperform and set a new price target of $34.00

Bernstein upgraded Spirit Aerosystems from Mkt Perform to Outperform and set a new price target of $29.00 from $25.00 previously

Deutsche Bank upgraded Spirit Aerosystems from Hold to Buy and set a new price target of $30.00 from $16.00 previously

WICHITA, Kan., May 1, 2025 /PRNewswire/ -- First Quarter 2025 Revenues of $1.5 billionEPS of $(5.21); Adjusted EPS* of $(4.25)Cash used in operations of $420 million; Free cash flow* usage of $474 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported first quarter 2025 financial results. Revenue Spirit's revenue in the first quarter of 2025 decreased from the same period of 2024, primarily due to lower production activity on most Boeing programs, particularly the Boeing 737 program. For the Boeing 737 program, production

WICHITA, Kan., April 28, 2025 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) announced that Spirit has entered into a definitive agreement with Airbus SE to transfer ownership of certain assets and sites involved in the production of Airbus aerostructures to Airbus. The divestiture of these assets is expected to close concurrently with Spirit's previously announced acquisition by The Boeing Company.  Both transactions are subject to regulatory approvals, among other closing conditions, and are expected to close in the third quarter of 2025.  At the closing of thi

WICHITA, Kan., April 23, 2025 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) today announced that John L. Plueger, Chief Executive Officer of Air Lease Corporation, will depart the Spirit AeroSystems Board of Directors after 10 years of service as a board member. Plueger will not be standing for re-election, and his departure will be effective, at Spirit's annual meeting of stockholders to be held on May 23, 2025. Plueger's departure comes as he focuses on expanded responsibilities at Air Lease Corporation following the retirement of its executive chairman Steven

WICHITA, Kan., Feb. 28, 2025 /PRNewswire/ --  Fourth Quarter 2024 Revenues of $1.7 billionEPS of $(5.38); Adjusted EPS* of $(4.22)Cash provided by operations of $137 million; Free cash flow* of $91 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported fourth quarter and full-year 2024 financial results. "As we advance toward the anticipated close of the acquisition by Boeing in mid-2025, we continue to make meaningful progress on several key fronts," said Pat Shanahan, President and Chief Executive Officer, Spirit AeroSy

WICHITA, Kan., Jan. 31, 2025 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) today announced that, at the special meeting of its shareholders held earlier today, its shareholders voted to approve the proposed acquisition of Spirit AeroSystems by The Boeing Company. The transaction, announced last summer, is expected to close in mid-2025, subject to closing conditions including the receipt of regulatory approvals. "Our shareholder's resounding approval today represents an important milestone in our carefully planned merger with Boeing," said Irene Esteves, Spirit A

WICHITA, Kan., Jan. 13, 2025 /PRNewswire/ -- Today, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") announced the sale of Fiber Materials Inc ("FMI") business based in Biddeford, Maine, and Woonsocket, Rhode Island, to Tex Tech Industries, Inc. ("Tex-Tech") for $165 million in cash. FMI is an industry leader in high-temperature materials and reinforced composites, with a focus on Carbon / Carbon and related composites. FMI's applications include thermal protection systems, re-entry vehicle nose tips, and rocket motor throats and n

WICHITA, Kan., Nov. 18, 2024 /PRNewswire/ -- Today, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") announces a purchase agreement to sell Fiber Materials, Inc ("FMI") business based in Biddeford, Maine, and Woonsocket, Rhode Island, to Tex-Tech Industries, Inc. ("Tex-Tech") for $165,000,000 in cash, subject to customary adjustment.  FMI is an industry leader in high-temperature materials and reinforced composites, with a focus on Carbon / Carbon and related composites. FMI's applications include thermal protection systems, re-ent

WICHITA, Kan., Nov. 12, 2024 /PRNewswire/ -- Spirit AeroSystems (NYSE:SPR) today announces a Second Amended and Restated Memorandum of Agreement with Airbus, in which Airbus has agreed to provide Spirit a non-interest-bearing line of credit in an amount of $107 million. Spirit will use the line of credit as advance payments in connection with production for various Airbus programmes and the continued delivery of certain products to Airbus by Spirit. Airbus has agreed to provide Spirit a non-interest-bearing line of credit in an amount of $107 million.Per the agreement, amounts

WICHITA, Kan., Nov. 12, 2024 /PRNewswire/ -- Spirit AeroSystems (NYSE:SPR) today announces an Advance Payments Agreement with Boeing, in which Boeing has committed to pay Spirit, as advance payments, up to a total of $350,000,000.00 to produce Boeing products at the rates required by Boeing. Boeing intends these payments to address Spirit's high levels of inventory and lower operational cash flows, decrease in expected deliveries to Boeing and higher factory costs to maintain rate readiness, and lingering effects brought on by the recent strike by Boeing employees. Per terms o

WICHITA, Kan., Oct. 23, 2024 /PRNewswire/ -- Third Quarter 2024 Revenues of $1.5 billionEPS of $(4.07); Adjusted EPS* of $(3.03)Cash used in operations of $276 million; Free cash flow* usage of $323 millionSpirit AeroSystems Holdings, Inc. (NYSE:SPR) ("Spirit," "Spirit AeroSystems" or the "Company") reported third quarter 2024 financial results. "We remain on track to close the acquisition by Boeing in mid-2025, while also continuing to focus on safety, compliance and quality," said Pat Shanahan, President and Chief Executive Officer, Spirit AeroSystems. "Our process improvem