Company swings to profit but delays financial guidance due to 737 Max production concerns

  • Spirit AeroSystems reports surprise fourth-quarter profit
  • Will not provide financial guidance until timing of 737 Max production rate increases becomes clear
  • Net income of $58.7 million, compared to a net loss of $243.1 million in the year-ago period
  • Revenue jumped 37.3% to $1.81 billion
  • Spirit’s stock has tumbled 16% year to date

Shares of Spirit AeroSystems Holdings Inc. reported a surprise fourth-quarter profit, but the company will not provide financial guidance until the timing of 737 Max production rate increases becomes clear. The company swung to a net income of $58.7 million, compared to a net loss of $243.1 million in the year-ago period. Revenue jumped 37.3% to $1.81 billion. However, Spirit’s stock has tumbled 16% year to date due to its involvement in the inflight blowout of a panel that led to groundings of 737 Max 9 aircraft.

Public Companies: Spirit AeroSystems Holdings Inc. (SPR), Boeing Co. (BA)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides specific details about Spirit AeroSystems’ financial performance in the fourth quarter, including net income, earnings per share, and revenue. It also mentions the reason for the company’s decision not to provide financial guidance. The information is based on the company’s official report and includes comparisons to FactSet consensus estimates. However, the article does not provide any analysis or commentary on the financial results, which could have provided a more comprehensive understanding of the situation.

Noise Level: 7
Justification: The article provides relevant information about Spirit AeroSystems Holdings Inc.’s financial performance and its relationship with Boeing. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article also includes some repetitive information and does not explore the consequences of the company’s decisions on those who bear the risks.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Spirit AeroSystems Holdings Inc. and Boeing Co.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance of Spirit AeroSystems Holdings Inc. and its relationship with Boeing Co. However, there is no mention of any extreme event.

Reported publicly: www.marketwatch.com