Spirit Aero Reports Third Quarter Profit

Spirit AeroSystems reported an 11 percent rise in third quarter operating income to USD$214.4 million.

The Wichita-based aerostructure manufacturer’s net income fell 54 percent to USD$145.1 million, however, after the previous year quarter benefited from a USD$135.9 million income tax provision.

Total revenue for the quarter was USD$1.71 billion, a 7.4 percent lift from 2015.

Deliveries of ‘shipsets’ were up at 368 from 347 last year. A shipset is the complete set of components Spirit manufactures for each aircraft type.

Spirit said that during the quarter it delivered key components to Boeing for its 500th 787 Dreamliner.

“We are extremely proud of our collaboration with Boeing and the work we do together to build the 787,” Spirit Aero’s chief executive Tom Gentile said.

Spirit lifted its 2016 revenue forecast from USD$6.6 billion - USD$6.7 billion, to between USD$6.7 billion and USD$6.8 billion.