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Spirit AeroSystems Ends 2024 With Monetary Outcomes Revealing Market Shifts and Surge in Deliveries
Saturday, March 1, 2025
Spirit AeroSystems Holdings, launched its monetary outcomes for the fourth quarter and full yr of 2024.
“As we advance toward the anticipated close of the acquisition by Boeing in mid-2025, we continue to make meaningful progress on several key fronts,” mentioned Pat Shanahan, President and Chief Govt Officer, Spirit AeroSystems. “We’ve made significant strides to improve operations, and our teams are working diligently to develop thoughtful transition plans designed to position us for long-term success. These efforts underscore our commitment to a smooth integration while maintaining focus on delivering value for our customers, employees and stakeholders.”
“We are seeing the results of our process improvement initiatives this quarter with a meaningful increase in both the quality and number of deliveries. Deliveries were up twofold on the 737, 37% on the A220 and 15% on the A350 compared to the prior quarter,” mentioned Irene Esteves, Govt Vice President and Chief Monetary Officer, Spirit AeroSystems. “We believe this progress demonstrates that, with the right customer support, we are able to meet current demands while also investing for future production rate increases.”
Income
Spirit AeroSystems’ income for the fourth quarter of 2024 declined in comparison with the identical interval in 2023, primarily influenced by the Boeing Memorandum of Settlement (MOA) signed in October 2023. This included favorable pricing changes on the Boeing 787 program and the reversal of a possible declare associated to the Boeing 737 vertical fin connect fittings difficulty. Nonetheless, the decline was partially offset by elevated Protection and House revenues within the fourth quarter of 2024. Regardless of the income lower, total deliveries rose in comparison with the fourth quarter of 2023, together with larger Boeing 737 deliveries.
As of the tip of the fourth quarter of 2024, Spirit AeroSystems’ backlog stood at roughly $47 billion, encompassing work packages throughout all business platforms inside Airbus and Boeing’s order books.
