Wichita, KS-based Spirit AeroSystems Holdings (SPR - Free Report) is a manufacturer and supplier of large aircraft structures. Commercial aircraft manufacturer, Boeing, 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 stable over the last 7 days.
Spirit AeroSystems has reported positive earnings surprises in three of the last four quarters with an average beat of 7.45%.
Zacks Rank
Currently, Spirit AeroSystems has a Zacks Rank #3 (Hold), but that could definitely change following its earnings report which was just released. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Spirit AeroSystems surpassed earnings estimates for the second quarter of 2016. Our consensus called for EPS of $1.05, and the company reported adjusted EPS of $1.21.
Revenue: The company also came above on revenues. Spirit AeroSystems posted revenues of $1.83 billion compared to our consensus estimate of $1.66 billion.
Key Developments to Note
Backlog in the reported quarter increased to $47 billion from $46 billion in the preceding quarter.
Spirit AeroSystems maintained its revenue forecast for 2016 in the range of $6.6 billion to $6.7 billion. However, it has revised its EPS guidance to the range of $3.45 - $3.65 from $4.15 - $4.35 expected earlier.
Check back later for our full write up on this Spirit AeroSystems earnings report later!
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Wichita, KS-based Spirit AeroSystems Holdings (SPR - Free Report) is a manufacturer and supplier of large aircraft structures. Commercial aircraft manufacturer, Boeing, 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 stable over the last 7 days.
Spirit AeroSystems has reported positive earnings surprises in three of the last four quarters with an average beat of 7.45%.
Zacks Rank
Currently, Spirit AeroSystems has a Zacks Rank #3 (Hold), but that could definitely change following its earnings report which was just released. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Spirit AeroSystems surpassed earnings estimates for the second quarter of 2016. Our consensus called for EPS of $1.05, and the company reported adjusted EPS of $1.21.
Revenue: The company also came above on revenues. Spirit AeroSystems posted revenues of $1.83 billion compared to our consensus estimate of $1.66 billion.
Key Developments to Note
Backlog in the reported quarter increased to $47 billion from $46 billion in the preceding quarter.
Spirit AeroSystems maintained its revenue forecast for 2016 in the range of $6.6 billion to $6.7 billion. However, it has revised its EPS guidance to the range of $3.45 - $3.65 from $4.15 - $4.35 expected earlier.
Check back later for our full write up on this Spirit AeroSystems earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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