Aircraft parts maker Spirit on track to meet record demand
Spirit AeroSystems topped Wall Street estimates for third-quarter profit on Wednesday, and said it was back on track to meet surging demand for its aircraft parts from top customers Boeing and Airbus. Spirit, which makes fuselage and aerodynamic structures for Boeing and Airbus planes, has been one of the highest profile parts suppliers struggling to deal with a boom in demand for commercial jets, including Boeing's best-selling 737 aircraft. However, Boeing’s third-quarter deliveries announced last week suggested that Spirit’s backlog was easing and Wednesday’s results showed parts deliveries for the 737 rose to 160 shipsets in the third quarter from 137 a year earlier. “We made great progress continuing to improve the consistency and efficiency of 737 deliveries during the quarter, and are now fully recovered to our delivery schedule,” Spirit CEO Tom Gentile said. The rise in shipments did come at the cost of a trimming of operating margins in Spirit’s fuselage systems business, w...
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