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Home»Finance»Spirit AeroSystems expects quarterly revenue above estimates on Boeing production restart
Finance

Spirit AeroSystems expects quarterly revenue above estimates on Boeing production restart

February 10, 2025No Comments2 Mins Read
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Spirit AeroSystems expects quarterly revenue above estimates on Boeing production restart
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(Reuters) – Spirit AeroSystems mentioned on Monday it expects to publish a higher-than-expected quarterly income, pushed by restarted manufacturing on the aerospace provider’s largest buyer, Boeing.

Shares of the corporate rose about 1% in premarket buying and selling.

Spirit’s deliveries elevated about 15% within the fourth quarter, led by increased Boeing 737 and Airbus A320 shipsets. A shipset refers to units of structural fuselage elements produced or delivered for one plane.

Boeing final month mentioned it was making progress on rising aircraft manufacturing after a crippling strike that shuttered manufacturing of most of its jets led to November.

Spirit expects revenues of $1.66 billion within the quarter ended on Dec. 31, 2024, surpassing analysts’ common estimates of $1.61 billion.

The Wichita, Kansas-based firm, nonetheless, expects to report a lack of $413 million, owing partially to excessive labor and uncooked materials prices because the aerospace provide chain stays strained. It had posted a revenue of $291 million a 12 months in the past.

The corporate additionally reiterated that its administration expects to make a going-concern disclosure in its annual submitting. In November, it warned there was “substantial doubt” concerning the firm’s means to proceed as a going concern.

(Reporting by Utkarsh Shetti in Bengaluru; Enhancing by Vijay Kishore)

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