Wichita, KS-based Spirit AeroSystems Holdings, Inc. (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 dropped by a penny over the last 30 days.
Spirit AeroSystems has reported positive earnings surprises in two of the last four quarters with an average beat of 2.73%.
Currently, Spirit AeroSystems has a Zacks Rank #3 (Hold), but that could definitely change following its second 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 surpassed the earnings estimate for the second quarter of 2017. Our consensus called for EPS of $1.20, and the company reported EPS of $1.57.
Revenue: The company also surpassed our estimate for revenues. Spirit AeroSystems posted revenues of $1.83 billion compared to our consensus estimate of $1.72 billion.
Key Developments to Note
Backlog in the reported quarter was $46 billion, in line with the prior quarter’s figure.
Spirit AeroSystems raised its financial guidance for 2017. The company currently expects to generate earnings in the range of $5.00–$5.25, up from the prior guidance range of 4.60 - $4.85 per share.
Stock Price: In the pre-market trading session, Spirit AeroSystems’ second 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!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>