This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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

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.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,460.15 -182.86 -1.10%
S&P 500 1,973.76 -15.11 -0.76%
NASDAQ 4,804.1460 -24.1790 -0.50%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs