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Mar 30, 2023
Spirit AeroSystems Q1 2023 Earnings Report
Spirit AeroSystems reported first quarter 2023 financial results, with revenues of $1.4 billion and an EPS of $(2.68).
Key Takeaways
Spirit AeroSystems reported a 22% increase in revenue to $1.4 billion for the first quarter of 2023. However, the company experienced a net loss of $281 million, resulting in a loss per share of $(2.68). Adjusted EPS was $(1.69). The company's backlog remains strong at approximately $37 billion.
Revenues increased by 22% to $1.4 billion compared to the same period in 2022.
EPS was $(2.68), while adjusted EPS was $(1.69).
Cash used in operations was $46 million, and free cash flow usage was $69 million.
A quality issue was identified on the vertical fin attach fittings of certain models of the 737 fuselage, leading to expected disruptions and rework costs.
Spirit AeroSystems
Spirit AeroSystems
Spirit AeroSystems Revenue by Segment
Revenue by Segment
Commercial Revenue
CapyFin.comDefense & Space Revenue
CapyFin.comAftermarket Revenue
CapyFin.com Forward Guidance
The company expects disruptions and rework within Spirit’s Wichita factory to negatively impact full-year gross profit by $31 million, of which $17 million is reflected in the first quarter 2023 financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income