Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 151

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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2025 were $304.1 million, an increase of $72.8 million, or 31%, compared to the same period in the prior year. The variance from the prior year period includes the impact of higher production on the Sikorsky CH-53K as well as increased revenue on the P-8 units under the Boeing B737 program, the contracts for which include units produced for the Boeing P-8 program that are accounted for in the Defense & Space segment.

Defense & Space segment operating margins decreased to (5%) for the three months ended October 2, 2025, compared to 19% for the same period in the prior year. The decrease in margin over the prior year period was primarily due to higher unfavorable changes in estimates recorded on the KC-46 Tanker and P-8 programs as well as higher excess capacity costs. For the three months ended October 2, 2025 the Defense & Space segment included $12.1 million of excess capacity production costs compared with excess capacity costs of $4.3 million for the same period in the prior year. The segment recorded unfavorable cumulative catch-up adjustments of $3.9 million for the three months ended October 2, 2025. The segment recorded net forward loss charges of $7.5 million for the three months ended October 2, 2025. In comparison, during the same period of the prior year, the segment recorded favorable cumulative catch-up adjustments of $11.8 million and net forward loss charges of $4.3 million.

Aftermarket segment.  Aftermarket segment net revenues for the three months ended October 2, 2025 were $111.2 million, an increase of $11.7 million, or 12%, compared to the same period in the prior year. Aftermarket segment operating margins were 9% for the three months ended October 2, 2025, compared to 9% for the same period in the prior year.  

Nine Months Ended October 2, 2025 as Compared to Nine Months Ended September 26, 2024

Revenue.  Net revenue for the nine months ended October 2, 2025 was $4,742.3 million, an increase of $77.0 million, or 1.7%, compared to net revenue of $4,665.3 million in the same period of the prior year. The increase in revenue was primarily driven by increased Airbus and Defense & Space production partially offset by the effect of lower margins