Spirit AeroSystems Holdings, Inc. (SPR - Free Report) reported fourth-quarter 2023 adjusted earnings of 48 cents per share, which missed the Zacks Consensus Estimate of $1.33 by 63.9%. However, the bottom line improved from a loss of $1.46 per share incurred in the year-ago quarter.
Barring one-time adjustments, the company recorded GAAP earnings of 52 cents per share against a loss of $2.32 in the prior-year period.
Spirit AeroSystems reported an adjusted loss of $4.02 per share for 2023, wider than the Zacks Consensus Estimate of a loss of $3.33. The full-year loss also widened from the year-ago quarter’s reported loss of $2.81 per share.
Highlights of the Release
Total revenues of $1,813 million surpassed the Zacks Consensus Estimate of $1,739 million by 4.3%. Also, the top line rose 37% on a year-over-year basis, driven by higher production deliveries on Commercial programs and higher Defense and Space and Aftermarket revenues.
Total revenues were $6.05 billion for 2023, which beat the Zacks Consensus Estimate of $5.98 billion by 1.2%. The top line also rose 20% from $5.03 billion reported in the year-ago quarter.
The company’s backlog at the end of the fourth quarter totaled $49 billion, up from the prior quarter’s $42.2 billion.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Spirit AeroSystems Holdings, Inc. (SPR - Free Report) reported fourth-quarter 2023 adjusted earnings of 48 cents per share, which missed the Zacks Consensus Estimate of $1.33 by 63.9%. However, the bottom line improved from a loss of $1.46 per share incurred in the year-ago quarter.
Barring one-time adjustments, the company recorded GAAP earnings of 52 cents per share against a loss of $2.32 in the prior-year period.
Spirit AeroSystems reported an adjusted loss of $4.02 per share for 2023, wider than the Zacks Consensus Estimate of a loss of $3.33. The full-year loss also widened from the year-ago quarter’s reported loss of $2.81 per share.
Highlights of the Release
Total revenues of $1,813 million surpassed the Zacks Consensus Estimate of $1,739 million by 4.3%. Also, the top line rose 37% on a year-over-year basis, driven by higher production deliveries on Commercial programs and higher Defense and Space and Aftermarket revenues.
Total revenues were $6.05 billion for 2023, which beat the Zacks Consensus Estimate of $5.98 billion by 1.2%. The top line also rose 20% from $5.03 billion reported in the year-ago quarter.
The company’s backlog at the end of the fourth quarter totaled $49 billion, up from the prior quarter’s $42.2 billion.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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