Will Storage Cost Dent Spirit AeroSystems (SPR) Q3 Earnings?
Zacks Investment Research | Oct 29, 2019 08:53AM ET
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is set to release third-quarter 2019 results on Oct 31, before the opening bell.
Increased revenue expectations from the Propulsion Systems segment is likely to have boosted the company’s third-quarter revenues. However, costs to store Boeing’s (NYSE:BA) 737 MAX parts and fuselages may have negatively impacted earnings.
The company’s earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average positive surprise being 3.27%.
Let’s see how things have shaped up prior to this announcement.
Propulsion Systems Likely to Drive Growth
The Propulsion Systems segment, which represents almost 26% of total sales, has been a major growth driver for the company and is likely to have performed well in the third quarter too. Higher production volume for Boeing’s 777 and 787 series of jets are likely to have driven revenues for Spirit AeroSystems’ Propulsion Systems segment in the third quarter. The Zacks Consensus Estimate for the segment’s third-quarter sales is pegged at $502 million, suggesting growth of 13.6% from the prior-year quarter’s reported figure.
Spirit Aerosystems Holdings, Inc. Price and EPS Surprise
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