Spirit AeroSystems shares are trading lower following a Q2 EPS miss. The company also said the work stoppage from the IAM strike will reduce full-year 737 deliveries to 370-390 units.
Portfolio Pulse from Benzinga Newsdesk
Spirit AeroSystems' Q2 earnings per share (EPS) fell short of expectations, causing its shares to trade lower. The company also announced that the IAM strike will reduce its full-year 737 deliveries to 370-390 units.
August 04, 2023 | 11:57 am
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Spirit AeroSystems' shares are trading lower due to a Q2 EPS miss. The IAM strike is also expected to reduce full-year 737 deliveries, potentially impacting future revenues.
Spirit AeroSystems' Q2 EPS miss indicates weaker than expected profitability, which is a negative signal to investors and can lead to a decrease in share price. Additionally, the reduction in 737 deliveries due to the IAM strike could lead to lower future revenues, further negatively impacting the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100