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Spirit AeroSystems Holdings Inc Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SPR

After brief comments by Jeff and Phil regarding our performance and outlook, we'll be glad to take your questions. In order to allow everyone to participate in the question-and-answer segment, we do ask that you limit yourself to one question.

Before we begin, I need to remind you that any projections or goals we may include in our discussion today are likely to involve risks, which are detailed in our news release, in our SEC filings and in the forward-looking statement at the end of this web presentation. And as a reminder, you can follow today's broadcast and slide presentation on our website at spiritaero.com.

With that, I'd like to turn the call over to our Chief Executive Officer, Jeff Turner.

Jeffrey L. Turner

Thank you, Coleen, and good morning. Let me welcome you to Spirit's second quarter earnings call. I'll begin with a look at our business and related performance, then Phil will review the financial results. After that, we'll be glad to answer your questions.

In the second quarter, our core programs demonstrated solid operating performance as we recovered from the disruption from the severe weather in April at our Wichita, Kansas facility and increased volumes by 12% for large commercial airplanes.

Reflecting on what our team and partners accomplished in the second quarter, I continue to be extremely proud of how we supported our customers by delivering both product and support in a timely manner. It is a testament to the team we have here at Spirit, as well as our unions, our customers, suppliers and our government and community partners.

As the OEM order books demonstrate, the large commercial aircraft market continues to be strong as airlines replace less fuel-efficient airplanes and gain operational performance by growing their fleets. This growth trend is extremely positive for Spirit as our customers increased production rates to meet the demand, translating to our backlog of over $32 billion for our core products and development programs transitioning to production.

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