Spirit AeroSystems Records Another Good Quarter
Revenue and earnings were up in the second quarter for Spirit AeroSystems, according to an earnings report released Wednesday.
Revenue was $1.8 billion, up slightly from the same quarter in 2017. The increase was primarily due to more deliveries in the Boeing 737 program.
Operating income was $218 million. Spirit’s backlog at the end of the second quarter was approximately $47 billion, which includes work on all commercial platforms for Boeing and Airbus.
“We achieved record deliveries, including 169 Boeing 737 shipsets, representing a 32 percent increase over the first quarter,” Spirit President and CEO Tom Gentile said in a statement. “We have to continue improving the consistency and efficiency of deliveries to support our customer, but this delivery level gives us confidence in our ability to meet announced rate increases this year and next.”
Spirit, located in south Wichita, is the city’s largest private employer. It makes aerostructures for Boeing, Airbus and other aviation firms.
The company announced plans in December to add 1,000 new jobs and invest $1 billion in its Wichita facility over the next five years.
Spirit’s stock has increased roughly 7 percent since the beginning of the year and more than 50 percent in the last 12 months.
Tom Shine is director of news and public affairs at KMUW. Follow him on Twitter @thomaspshine.