Spirit AeroSystems reports Q2 adjusted EPS ($1.46), consensus (86c)

Reports Q2 revenue $1.4B, consensus $1.31B. “We are very pleased to have in place a four-year contract with our IAM-represented employees, which reflects the gratitude we have for their contributions. While the first vote resulted in a work stoppage, we quickly went back to the table with our union partners and reached a resolution. However, the strike did impact our production and deliveries, as reflected in earnings and cash flow,” said Tom Gentile, President and CEO, Spirit AeroSystems. “Also, we have resolved all rework related to the vertical attach fittings issue on available Boeing 737 units in Wichita. With the IAM contract negotiations and our rework of the vertical fin attach fittings behind us, we look forward to executing on our customer commitments for the rest of the year.”