This was primarily driven by higher production deliveries on the A350 XWB and A320 programs, one-time claim settlements, and higher global customer support and services activity, the company said. As a result of the A350 XWB agreement, Spirit extended the block to 800 shipsets and recorded an additional net forward-loss of US$135.7 million in the second quarter. Operating income for the second quarter of 2016 was US$83 million, compared to US$230 million in the second quarter of 2015, reflecting the impact of the charge associated with the Airbus settlement and other one-time items.
Fuselage Systems segment revenue in the second quarter of 2016 was up 3% to US$915 million, while Propulsion Systems segment revenue in the second quarter of 2016 increased 9% to US$482 million.
Wing Systems revenue in the second quarter of 2016 increased 15% to US$424 million due to higher production deliveries on the A350 XWB and A320 programs and one-time claim settlements with customers, partially offset by lower net revenue recognized on certain non-recurring Boeing programs.
The company expects full-year 2016 revenue to be between US$6.6 - US$6.7 billion.
This story is reprinted from material from Spirit Aerosystems, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
