Wichita, KS-based Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is a manufacturer and supplier of large aircraft structures. Commercial aircraft manufacturer, Boeing (NYSE:BA), has to depend on Spirit AeroSystems for bare fuselages of its 737 and 787 airplanes. In addition, Spirit AeroSystems contributes to other commercial and defense programs.
Estimate Revision Trend
Investors should note the earnings estimate revisions for Spirit AeroSystems. The Zacks Consensus Estimate has remained unchaged over the last 7 days.
Spirit AeroSystems has reported positive earnings surprises in two of the last four quarters with an average beat of 6.62%.
Zacks Rank
Currently, Spirit AeroSystems has a Zacks Rank #2 (Buy), but that could definitely change following its third quarter 2017 earnings report which was just released.You can see the complete list of today’s Zacks #1 Rank stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Spirit AeroSystems earnings figure came in line with the Zacks Consensus Earnings estimate for the third quarter of 2017. Our consensus called for EPS of $1.26, and the company also reported EPS of $1.26.
Revenue: The company surpassed our estimate for revenues. Spirit AeroSystems posted revenues of $1.75 billion compared to our consensus estimate of $1.73 billion.
Key Developments to Note
Backlog in the reported quarter was $45 billion, lower than the prior quarter’s figure by $1 million.
Spirit AeroSystems reiterated its financial guidance for 2017. The company continues to expect to generate earnings in the range of $5.00–$5.25.
Stock Price: In the pre-market trading session, Spirit AeroSystems’ third quarter results made no significant impact on its share price. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.
Check back later for our full write up on this Spirit AeroSystems earnings report later!
Spirit Aerosystems Holdings, Inc. Price and EPS Surprise
Spirit Aerosystems Holdings, Inc. Price and EPS Surprise | Spirit Aerosystems Holdings, Inc. Quote
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Spirit Aerosystems Holdings, Inc. (SPR): Free Stock Analysis Report
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