Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 13

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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225 shipsets delivered in the same period of the prior year, primarily driven by decreased production on the A320 program. Deliveries for business/regional jet components increased to 64 shipsets delivered during the second quarter of 2025, compared to 53 shipsets delivered in the same period of the prior year. In total, deliveries increased to 430 shipsets during the second quarter of 2025, compared to 336 shipsets delivered in the same period of the prior year. 

Gross (Loss) Profit.  Gross loss was ($231.4) million for the three months ended July 3, 2025, compared to gross loss of ($233.5) million for the same period in the prior year. The reduction in loss from the prior year period was primarily driven by lower cumulative catch-up adjustments partially offset by lower program margins on Boeing programs, with forward loss charges and excess capacity charges being relatively flat year-over-year. In the second quarter of 2025, we recognized $44.2 million of excess capacity production costs driven by cost overruns and production schedule changes on B737 MAX and A220 programs, compared to excess capacity cost of $46.3 million in the same period of the prior year. In the second quarter of 2025, we recognized $20.1 million of unfavorable cumulative catch-up adjustments related to periods prior to the second quarter of 2025, and $219.4 million of net forward loss charges. As mentioned in Note 4 Changes in Estimates to our condensed consolidated financial statements included in Item 1 of Part I of this Quarterly Report, the forward losses recorded in the second quarter of 2025 were primarily driven by foreign exchange rates, current production performance and supply chain cost growth on the A350 and A220 programs, and production cost and supply chain growth, which includes our latest estimate for tariffs on the B787 program. In the second quarter of 2024, we recorded $51.7 million of unfavorable cumulative catch-up adjustments related to periods prior to the second quarter of 2024, and $213.5 million of net forward loss charges primarily driven by production performance, and supply chain cost growth on the A350 and A220 programs, schedule changes, additional labor and supply chain cost growth on the B787 program, and increased costs related to supply chain cost growth on the B767 program.  

52

SG&A and Research and Development.  Current period SG&A was higher than in the prior year period by $23.