US stock futures dip as Nvidia earnings spark little cheer
In a challenging year for aerospace suppliers, Spirit Aerosystems Holdings Inc . (NYSE:SPR) stock has touched a new 52-week low, dipping to $28.84. According to InvestingPro data, the company carries a concerning debt burden of $5.4 billion and shows weak financial health metrics. The Wichita, Kansas-based company, which manufactures components for commercial airliners, has faced headwinds that have pushed its shares to the lowest price level seen in the last year. Despite generating revenue of $6.3 billion in the last twelve months, the company’s negative EBITDA of -$1.4 billion reflects significant operational challenges. Investors have navigated through a turbulent market, which has seen Spirit’s stock decline by 12.59% over the past year. This latest price trough reflects broader industry concerns, including supply chain disruptions and fluctuating demand in the post-pandemic recovery phase. InvestingPro analysis suggests the stock is currently undervalued, with analysts maintaining coverage of the stock despite recent earnings forecast downgrades. Discover detailed insights and 11 additional ProTips for SPR with an InvestingPro subscription.
In other recent news, Spirit AeroSystems Holdings, Inc. has received shareholder approval for its merger with Boeing (NYSE:BA)’s subsidiary, Sphere Acquisition Corp. This merger, anticipated to finalize in mid-2025, remains subject to regulatory approvals and other conditions. Spirit AeroSystems has also amended its repayment terms with Boeing, outlining a revised schedule for repaying $605 million in outstanding advances, starting in 2026. Additionally, Spirit AeroSystems completed the sale of its subsidiary, Fiber Materials Inc., to Tex-Tech Industries, Inc. for $165 million in cash, marking a significant financial transaction for the company. This sale aligns with Spirit’s broader strategic efforts to streamline operations. Meanwhile, Spirit Airlines (OTC:SAVEQ) has been upgraded by Fitch Ratings to ’CCC+’ from ’D’, reflecting a partial recovery from bankruptcy. Despite the upgrade, Spirit Airlines continues to face challenges, including high leverage and ongoing cash burn. Fitch expects Spirit Airlines to maintain high leverage through 2026, with ongoing losses anticipated at the EBIT level.
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