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Spirit AeroSystems Holdings Inc (NYSE:SPR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.7%.
Spirit AeroSystems Holdings Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.62 in the quarter versus EPS of $0.57 in the year-earlier quarter.
Revenue: Rose 16.99% to $1.43 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spirit AeroSystems Holdings Inc reported adjusted EPS income of $0.62 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $1.37 billion.
Quoting Management: “Spirit’s strong core business performance in 2012 continues to deliver the results we expect,” said President and Chief Executive Officer Jeff Turner . “Annual revenues increased to record levels reflecting higher demand and increased production rates for our core products even while we recovered from an EF3 tornado at our Wichita , KS facility. Our development program performance in 2012 underscores the complexity of our business as we transitioned multiple programs to full rate production after over seven years of concurrent development and delivered initial production units on the A350 XWB,” Turner continued.
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