Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Spirit AeroSystems Q4 Profit Rises; Backs FY13 Outlook - Quick Facts

Spirit AeroSystems Holdings Inc. (SPR: Quote) reported increase in profit for the fourth quarter, reflecting higher revenue on higher ship set deliveries and solid core program operating performance.

Net income for the quarter was $61 million, or $0.43 per share, compared to $60 million, or $0.42 per share, in the same period of 2011. The latest-quarter included a net pre-tax $34 million, or $0.19 per share, of forward loss charges principally on development programs.

Operating income for the fourth quarter of 2012 was $98 million including a net pre-tax $34 million forward loss associated with development and low rate programs.

Spirit's fourth quarter 2012 revenues were $1.426 billion, up from $1.219 billion for the same period of 2011 as the company benefited from higher production deliveries during the quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share on revenues of $1.37 billion for the quarter. Analysts' estimates typically exclude special items.

Spirit revenue guidance for the full-year 2013 remains unchanged and is expected to be between $5.8 - $6.0 billion based on Boeing's 2013 delivery guidance of 635 to 645 aircraft; expected B787 ship set deliveries; expected Airbus deliveries in 2013 of approximately 600 aircraft; internal Spirit forecasts for other customer production activities; expected non-production revenues; and foreign exchange rates consistent with those in the second half of 2012.

Earnings per share guidance for 2013 is unchanged and expected to be between $1.90 - $2.10 per share, reflecting continued growth and solid execution in core programs and transitioning development programs to full rate of production. Earnings per share guidance for 2013 excluding severe weather adjustments is still expected to be between $2.20 - $2.40.

Analysts expect the company to report earnings of $2.03 per share on revenues of $6.00 billion for fiscal 2013.

Register
To receive FREE breaking news email alerts for Spirit AeroSystems Holdings Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hewlett-Packard has recalled the AC power cords for its HP and Compaq notebook computer, citing a tendency to overheat, causing a potential fire and burn hazard. HP requests that consumers stop using the cord immediately and contact them to order a replacement cord free of charge. A UN report describing terrible atrocities carried out by Islamic State militants in Syria says children as young as 10 are being recruited and trained at ISIS camps as fighters. The report, based on 480 interviews and and evidence collected between 20 January and 15 July, chronicles the unimaginable brutality and human cost of the Syrian conflict. The report by the independent international com Poverty in Latin America and the Caribbean has been reduced by almost half in the last decade, and the middle class grew by 82 million people, from 21 percent of the population in 2000 to 34 percent in 2012, according to new data released by the United Nations Development Program (UNDP). UNDP's analysis, based on data from the Center for Distributive, Labor and Social Studies (CEDLAS), highlights
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.