Last $30.30 USD
Change Today +0.425 / 1.42%
Volume 453.4K
SPR On Other Exchanges
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As of 12:15 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).

spirit aerosystems hold-cl a (SPR) Key Developments

Spirit AeroSystems Holdings, Inc. Closes Refinancing of Senior Secured Credit Facility

Spirit AeroSystems Holdings, Inc. announced that it has closed a refinancing of its $540.4 million senior secured term loan B. The new $540.4 million term loan B, which was priced at LIBOR plus 2.50% and matures in September 2020, replaces the term loan B that was scheduled to mature in April 2019.

Spirit Aerosystems Holdings, Inc. Announces Resignation of Jeffrey L. Turner as Director

On March 6, 2014, Jeffrey L. Turner, a director of Spirit AeroSystems Holdings, Inc., informed the company that he has decided not to run for re-election to the board of directors at the company's 2014 annual meeting of shareholders. Mr. Turner will serve out the remainder of his current term.

Mark Suchinski Joins Spirit AeroSystems Holdings, Inc. and Spirit AeroSystems, Inc. as Vice President, Corporate Controller

Mark Suchinski, the Vice President, Treasurer and Financial Planning of Spirit AeroSystems Holdings, Inc. and its wholly-owned subsidiary, Spirit AeroSystems, Inc. (Spirit) was appointed as Vice President, Corporate Controller of the Company and Spirit, effective February 23, 2014. In his new role, Mr. Suchinski will perform the functions of principal accounting officer. Mr. Suchinski replaces James Steven Sharp, who was named Vice President, Finance Transformation of Spirit. Mr. Suchinski has served as the Vice President, Treasurer and Financial Planning of the Company and Spirit since October 2013. From August 2012 through October 2013, he held the role of Vice President of Finance and Treasurer for the Company and Spirit.

Spirit AeroSystems Might Not Sell Oklahoma Plants

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is willing to hold on to plants in Tulsa and McAlester if it doesn't get a sufficient bid for the properties, the company's president said. "If things don't work out, we'll be the proud owners", President and Chief Executive Officer Larry Lawson said.

Spirit AeroSystems Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Year 2014

Spirit AeroSystems Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net revenues of USD 1,494.4 million compared to USD 1,425.6 million a year ago. Operating loss was USD 320.8 million compared to operating income of USD 98.0 million a year ago. Loss before income taxes & equity in net (loss) income of affiliate was USD 334.3 million compared to income before income taxes & equity in net (loss) income of affiliate of USD 76.2 million a year ago. Net loss was USD 586.9 million or USD 4.15 per basic and diluted share compared to net income of USD 60.7 million or USD 0.43 per basic and diluted share a year ago. Cash provided by operating activities was USD 61.3 million compared to USD 308.9 million a year ago. Capital expenditures were USD 81.1 million compared to USD 78.5 million a year ago. The fourth quarter results included net USD 546 million of forward loss charges, which was primarily due to the 787. For the year, the company reported net revenues of USD 5,961.0 million compared to USD 5,397.7 million a year ago. Operating loss was USD 364.3 million compared to operating income of USD 92.3 million a year ago. Loss before income taxes & equity in net (loss) income of affiliate was USD 430.8 million compared to income before income taxes & equity in net (loss) income of affiliate of USD 11.4 million a year ago. Net loss was USD 621.4 million or USD 4.40 per basic and diluted share compared to net income of USD 34.8 million or USD 0.24 per basic and diluted share a year ago. Cash provided by operating activities was USD 260.6 million compared to USD 544.4 million a year ago. Capital expenditures were USD 272.6 million compared to USD 249.0 million a year ago. The company provided earnings guidance for the year 2014. For the year, the company expects cash provided by operating activities in the range of USD 370 million to USD 395 million, capital expenditure is expected to be USD 230 million to USD 255 million. Revenues are expected to be USD 6.5 billion to USD 6.7 billion, earnings per share is expected to be USD 2.50 to USD 2.65, Adjusted free cash flow is expected approximately USD 150 million. The company also expects effective tax rate of approximately 31% to 32%.

 

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