Spirit AeroSystems expects quarterly revenue above estimates on Boeing production restart

(Reuters) – Spirit AeroSystems said on Monday it expects to post a higher-than-expected quarterly revenue, driven by restarted production at the aerospace supplier’s biggest customer, Boeing.

Shares of the company rose about 1% in premarket trading.

Spirit’s deliveries increased about 15% in the fourth quarter, led by higher Boeing 737 and Airbus A320 shipsets. A shipset refers to sets of structural fuselage components produced or delivered for one aircraft.

Boeing last month said it was making progress on increasing plane production after a crippling strike that shuttered production of most of its jets ended in November.

Spirit expects revenues of $1.66 billion in the quarter ended on Dec. 31, 2024, surpassing analysts’ average estimates of $1.61 billion.

The Wichita, Kansas-based company, however, expects to report a loss of $413 million, owing in part to high labor and raw material costs as the aerospace supply chain remains strained. It had posted a profit of $291 million a year ago.

The company also reiterated that its management expects to make a going-concern disclosure in its annual filing. In November, it warned there was “substantial doubt” about the company’s ability to continue as a going concern.

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay Kishore)