Spirit’s first quarter 2017 revenue was US$1.7bn, up by 1% compared to the same period of 2016, primarily driven by higher production deliveries on the Airbus A350 XWB, partially offset by lower production deliveries on the Boeing 777 program. Spirit’s backlog at the end of the first quarter of 2017 was approximately US$46bn, with work packages on all commercial platforms in the Boeing and Airbus backlog. Operating income for the first quarter of 2017 was US$214m, compared to US$267m in the same period of 2016, primarily due to higher favorable changes in estimates recognized during the first quarter of 2016, which were US$42m higher when compared to those recognized in the current period.
Cash balance at the end of the quarter was US$672m. The company’s US$650m revolving credit facility remained undrawn at the end of the quarter.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada