Spirit AeroSystems reported an operating loss of $481 million in the second quarter of 2025, widening 45% compared to the same period last year. Net losses widened 52% to $631 million. Loss per share totalled $5.36.
The operating losses mostly result from losses on it transferring certain assets and sites to Airbus, coinciding with Boeing's re-acquisition of Spirit.
The company's revenues climbed 10% to $1.6bn. This was driven by higher productivity on most of its Boeing programmes, particularly on the 737 and 787 programmes, which the US manufacturer has been ramping up this year.
During the quarter, the company generated a negative free cash flow of $190 million, improving from its negative $597 million free cash flow last year.
As of the end of the quarter, the company had $4.3bn in total debt and $370 million cash.
“Management has developed a plan designed to improve liquidity,” Spirit said in its report. “These plans are dependent upon many factors, including, among other things, the outcomes of active discussions related to customer advances, including the timing or amounts of repayment for certain such advances, achieving forecasted 737 deliveries, the timing and expected proceeds received from certain divestitures and the expected timing and outcome of the transactions contemplated by the merger agreement with Boeing and the stock and asset purchase agreement with Airbus.”
Management is also evaluating additional strategies such as additional customer advances and restructuring of its operations to increase efficiency and reduce expenses.
During the quarter, Spirit's shipset deliveries to Boeing totalled 152, more than doubling from the 58 deliveries in the same period last year. The deliveries comprised of 113 shipset deliveries for 737 programme and 22 deliveries for the 787.
Other deliveries include 214 for Airbus programmes and 64 for business/regional jets. Overall deliveries totalled 430 shipsets, up from 336 in the same period last year.