October 31, 2018 / 11:39 AM / 18 days ago

Spirit AeroSystems profit beats estimates

Oct 31 (Reuters) - Aircraft parts maker Spirit AeroSystems Holdings Inc reported a better-than-expected quarterly profit on Wednesday, and the company said its delivery schedule was back on track to meet booming demand from biggest customers Boeing Co and Airbus SE.

Spirit’s net income rose to $169 million, or $1.59 per share, in the third quarter ended Sept. 27, from $147 million, or $1.26 per share, a year earlier.

On an adjusted basis, the company earned $1.70 per share, beating analysts’ average estimate of $1.65, according to Refinitiv data.

Total revenue rose about 4 percent to $1.81 billion, but was below the estimate of $1.83 billion.

“We made great progress continuing to improve the consistency and efficiency of 737 deliveries during the quarter, and are now fully recovered to our delivery schedule,” Spirit Chief Executive Officer Tom Gentile said in a statement. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below