Spirit Aero Systems Holdings Inc., one of Boeing’s major suppliers and also a first-tier aero structures manufacturer, just reported higher-than-anticipated quarterly profit. Thanks to higher margins, the company was able to raise its full-year profit forecast once again as major customers and aircraft manufacturers around the world are increasing production. Shares of Spirit Aero Systems rose by 5% and company revenue rose by 12.6% percent, bringing total revenue to $1.69 billion in the third quarter. Spirit shares also rose to $3.35-$3.45 per share from $2.90-$3.05 per share, with total estimated revenue increased to $6.8-$6.9 billion.
The revenue growth can be attributed to the higher margins in the fuselage business, which is currently the company’s largest revenue contributor. Over the course of the year, company stock has increased by a total of approximately 15%. Boeing and Airbus have both seen sales increase dramatically, as newly-developed fuel-efficient jets are resulting in an increase in orders that have trickled down the supply chain. Boeing and Airbus both procure parts from Spirit Aero Systems among other suppliers, choosing to source a majority of parts from suppliers as opposed to building it themselves. 84% of Spirit’s annual revenue comes from Boeing. Spirit Aero systems, a Kansas-based company, generates over $5.4 billion in annual revenue, making it the world’s largest aero structures manufacturer
Since its inception in 1927, it has grown to become a publicly-traded company on the NYSE with over 12,000 employees. The company currently develops some key components of Boeing aircraft, including the fuselage for the 737 and 787 as well as the cockpit. It also produces fuselage sections and front wing spars for some Airbus aircraft, particularly the Airbus A350. Main competitors include Vought Aircraft Industries, Goodrich, Alenia, and Kawasaki Heavy Industries. ASAP Semiconductor, through our proprietary website ASAP Fasteners, specializes in the distribution of aerospace products around the world for both commercial, civil, and military applications. We work with Spirit Aero systems
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