: Spirit AeroSystems stock drops after losses were much wider than forecast, quality issue identified on fittings for some Boeing 737s


Shares of Spirit AeroSystems Holdings Inc. SPR dropped 4.5% in premarket trading Wednesday, after the maker of components used in commercial and defense aircraft reported a much wider-than-expected loss and revenue that came up short, and said a quality issue on components used in Boeing Co.’s BA 737 planes hurt results. Net losses widened to $281.2 million, or $2.68 a share, from $52.8 million, or 51 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of $1.69 was much wider than the FactSet loss consensus of 29 cents. Revenue grew 21.8% to $1.43 billion, but was below the…

This article was originally published by Marketwatch.com. Read the original article here.

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