Spirit AeroSystems Reports Q1 Revenue Decline Amid Boeing Production Slowdown

Spirit AeroSystems reported a decline in first-quarter revenue due to slower production rates at Boeing, its main customer, and posted a net loss of $613 million. The company’s revenue for the quarter fell short of expectations, coming in at $1.5 billion versus the consensus estimate of $1.75 billion, with earnings per share also missing analyst forecasts. Spirit experienced a significant cash burn and warned about uncertainties in securing further customer advances or additional liquidity. Management is considering further steps to improve efficiency and cut costs. The company did not provide an outlook for 2025, citing its pending acquisition by Boeing, expected to close later this year, with some Spirit plants set to be acquired by Airbus.