Spirit AeroSystems Posts $4.25 Adjusted Loss, $613M Net Loss, 145 Boeing Deliveries; Announces Layoffs, SPX Technologies Misses Q1 EPS

Spirit AeroSystems Holdings reported a first-quarter adjusted loss per share of $4.25, missing the estimated loss of $1.14. The company recorded revenue of $1.52 billion, falling short of the $1.74 billion forecast. Spirit AeroSystems also reported a net loss of $613 million and an operating loss of $487 million, compared to an expected operating loss of $19.9 million. Despite an increase in Boeing shipset deliveries to 145 from 70 year-over-year, including 127 deliveries for the 737 model versus 44 the previous year, the company did not provide financial guidance due to an ongoing merger agreement. Additionally, Spirit AeroSystems announced plans to lay off workers as a result of a backlog impacting operations. Separately, SPX Technologies reported a first-quarter adjusted earnings per share of $1.38, missing the estimated $1.53, with sales of $482.6 million below the $544.02 million forecast.