Wichita, KS-based Spirit AeroSystems HoldingsSPR 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 increased by a penny over the last 7 days.
Spirit AeroSystems has reported positive earnings surprises in three of the last four quarters with an average beat of 8.17%.
Currently, Spirit AeroSystems has a Zacks Rank #3 (Hold), but that could definitely change following its earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Spirit AeroSystems surpassed earnings estimates for the third quarter of 2016. Our consensus called for EPS of $1.07, and the company reported adjusted EPS of $1.16.
Revenue: The company also came above on revenues. Spirit AeroSystems posted revenues of $1.71 billion compared to our consensus estimate of $1.65 billion.
SPIRIT AEROSYS Price and EPS Surprise
Key Developments to Note
Backlog in the reported quarter declined to $46 billion from $47 billion in the preceding quarter.
Spirit AeroSystems raised its revenue forecast for 2016 in the range of $6.7 billion to $6.8 billion compared to previous range of $6.6 billion to $6.7 billion. It also has revised its EPS guidance to the range of $3.55 - $3.80 from $3.45 - $3.65 expected earlier.
Check back later for our full write up on this Spirit AeroSystems earnings report later!
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