Q1 2020 Spirit AeroSystems Holdings Inc Earnings Call

Shares of Spirit AeroSystems Holdings (NYSE: SPR) opened Monday down 10% after the aerospace component supplier announced plans to lay off 1,450 workers. Spirit is a major supplier to Boeing (NYSE: BA) and Airbus (OTC: EADSY), and with airplane production rates scheduled to fall in the quarters to come, Spirit's business is going to take a hit as well. Spirit, a onetime Boeing subsidiary that makes fuselages and other large components for commercial and military aircraft, has seen its shares fall 70% so far in 2020 on concerns that the COVID-19 pandemic will force airlines to retrench, slowing commercial aircraft sales for years to come.

It's Friday, and the stock market is looking optimistic again, with the Dow, the Nasdaq, and the S&P 500 each up about 1.5% in midday trading. As The Wall Street Journal and Xinhua News Agency report, trade negotiators for the United States and China are restarting talks on implementing the Phase 1 trade deal that they signed in January. President Trump had previously threatened to end this deal, and continues to express some doubts about it.

Shares of Spirit AeroSystems (NYSE: SPR) gained 10.7% on Wednesday, as key customer Boeing (NYSE: BA) restarted its 737 Max production line. Spirit's fortunes are closely tied to Boeing, its former parent, and the restarted production is good news for beleaguered Spirit shares. Spirit AeroSystems makes the fuselages for the 737 Max, and the company was having troubles well before the COVID-19 pandemic, due to the aircraft being grounded after a pair of fatal crashes.

Shareholder rights law firm Robbins LLP announces that a purchaser of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between October 31, 2019 and February 27, 2020. Spirit designs, manufactures, and supplies commercial aero structures in the United States and internationally.

Shares of Spirit AeroSystems Holdings Inc. surged 4.3% in premarket trading Wednesday after the aircraft components maker swung to a narrower-than-expected loss on revenue that fell less than forecast. The company reported a net loss of $163.0 million, or $1.57 a share, after net income of $163.1 million, or $1.55 a share, in the year-ago period, as the suspension of Boeing Co's production of the 737 MAX plane led to lower margins as given "abnormal" costs associated with the COVID-19 pandemic. Excluding non-recurring items, the company swung to a per-share loss of 79 cents from a profit of $1.68, but beat the FactSet consensus for a loss of $1.27 a share. Revenue dropped 45% to $1.08 billion, but was above the FactSet consensus of $1.02 billion, as beats by its fuselage systems wing systems businesses offset a miss by its propulsion systems business. Among actions the company has taken preserve liquidity and cut costs amid the COVID-19 pandemic include cutting the dividend, suspending share buybacks, deferring repayments of an advance from Boeing and cutting jobs and work schedules. The company said it will not provide 2020 financial guidance given the continued uncertainties surrounding the 737 MAX grounding and the COVID-19 pandemic. The stock has plunged 73.2% over the past three months through Tuesday, while the S&P 500 has declined 14.3%.

Lower deliveries of aircraft ship sets are likely to have negatively impacted Spirit Aerosystems' (SPR) first-quarter revenues.

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SPR earnings call for the period ending March 31, 2020.

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U.S. stocks were largely flat on Thursday, with the S&P 500 holding at near three-month highs as investors paused after a three-day rally, weighing hopes of a swift economic recovery against underlying tensions between United States and China. Boeing Co climbed 3%, the most among the 30 blue-chip Dow components, as the planemaker said it had resumed production of its 737 MAX passenger jet at its Washington plant, although at a "low rate". The benchmark S&P 500 managed to close above the key 3,000 mark on Wednesday as growing evidence of a pickup in business activity and massive amounts of stimulus drove hopes of an economic recovery.

Vyaire Medical Inc., the world's largest healthcare company fully dedicated to respiratory care, together with Spirit AeroSystems [NYSE: SPR], announced today a new manufacturing and supply collaboration to build critical care ventilators at a converted facility in Wichita, Kan. The temporary special partnership will allow Vyaire to quickly ramp up production of critical care ventilators. This partnership furthers earlier action taken by Vyaire to accelerate production of ventilators and other related respiratory equipment at its primary production facilities based in North America.

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

The ongoing U.S. travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower demand because of the coronavirus pandemic. U.S. airlines are slashing hundreds of thousands of flights, cutting schedules by 80% or more through at least June and parking thousands of jets as demand for tickets has plunged by about 95%. Airlines are requiring facial coverings and implementing new cleaning procedures to try to convince passengers it is safe to fly again, but also fear the weakened economy may further drag down demand.

Over the past five trading sessions, the defense biggies put up a mixed show.While General Dynamics gained the most, with its share price rising 5.9%, L3Harris lost the most.

Spirit AeroSystems (SPR) Q1 revenues of $1,077 million exceed the Zacks Consensus Estimate by 10.7% but decline 45% on a year-over-year basis

Spirit Aerosystems (SPR) delivered earnings and revenue surprises of 44.37% and 10.67%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

If you are a Spirit shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com. Scott+Scott is investigating whether Spirit’s board of directors or senior management caused Spirit to violate securities and other laws in breach of their fiduciary duties to Spirit and whether Spirit has suffered damages as a result.

Shares of Spirit AeroSystems Hldgs (NYSE:SPR) fell 3.5% after the company reported Q1 results.Quarterly Results Earnings per share decreased 147.02% year over year to ($0.79), which beat the estimate of ($1.17).Revenue of $1,077,000,000 lower by 45.27% from the same period last year, which beat the estimate of $1,040,000,000.Looking Ahead Spirit AeroSystems Hldgs hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 06, 2020View more earnings on SPRWebcast URL: https://78449.choruscall.com/dataconf/productusers/spr/mediaframe/37474/indexr.htmlTechnicals 52-week high: $92.8152-week low: $13.69Price action over last quarter: down 64.53%Company Overview Spirit AeroSystems designs and manufactures aerostructures for commercial and military aircraft. The company operates in three reportable segments namely: Fuselage Systems, Propulsion Systems, and Wing Systems. The majority of the revenue is generated from the United States.See more from Benzinga * 14 Industrials Stocks Moving In Monday's Pre-Market Session * 14 Industrials Stocks Moving In Tuesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.