Spirit Aerosystems Holdings Inc Issues Q2 2013 Revenue Guidance Above Analysts' Estimates; Issues Q2 2013 Charge Guidance; Announces Delay In Second Quarter 2013 Earnings Release

Tuesday, 6 Aug 2013 07:31am EDT 

Spirit Aerosystems Holdings Inc announced that it expects to report second quarter 2013 revenues were $1.521 billion. Additionally, the Company expects to record between a $350 million to $400 million pre-tax charge related primarily to the Gulfstream business jet programs. The charge is primarily related to forecasted cost growth in the Wing segment in the years 2014-2021 with minimal cash flow impact in the current period. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.471 billion for the second quarter of 2013. The Company also announced the it will postpone the second quarter earnings release and filing its quarterly report on Form 10-Q. Related to the second quarter financial statements, the Company's auditors have not completed their review.