Spirit Is Navigating Through Lower Boeing Deliveries and the Absence of a Contractual Agreement
No-moat Spirit Aerosystems reported first-quarter 2017 results that featured flat revenue year over year and margins that were down, noting tough comparables due to favorable estimate changes last year. We’re decreasing our U.S. statutory tax rate to 25%, reflecting our view that tax reform is more likely than not to occur. For Spirit, which generates around 90% of its pretax earnings from U.S. operations, this means the effective tax rate will drop to about 25.5% starting in 2018, increasing ou...Spirit AeroSystems Holdings is an independent non-Original Equipment Manufacturer commercial aerostructures designer and manufacturer. The company has three segments: Fuselage Systems, which includes development, production and marketing of forward, mid and rear fuselage sections and systems, and related spares and maintenance, repair, and overhaul (MRO) services; Propulsion Systems, which includes development, production and marketing of struts/pylons, nacelles, and related engine structural components, and related spares and MRO services; and Wing Systems, which includes development, production and marketing of wings and wing components, as well as related spares and MRO services.
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