Spirit AeroSystems reports Q1 adjusted EPS ($4.25) vs. ($3.93) last year

Reports Q1 revenue $1.52B vs. $1.7B last year. 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 activity during the first quarter of 2024 was higher due to preparation for expected rate increases which were subsequently delayed later in that same period. This decrease was partially offset by higher production activity on Airbus programs during the first quarter of 2025. Overall deliveries increased during the first quarter of 2025 compared to the same period of 2024. Boeing 737 deliveries were significantly higher year-over-year due to the delay in deliveries caused by the initiation of the joint product verification process with Boeing during the first quarter of 2024. Spirit’s backlog at the end of the first quarter of 2025 was approximately $48 billion, which includes work packages on all commercial platforms in the Airbus and Boeing backlog.