Spirit AeroSystems reported a wider third-quarter 2025 net loss of $724 million, or $(6.16) per diluted share, compared to a net loss of $477 million, or $(4.07) per diluted share, in Q3 2024. The company continues to burn through cash, weighed down by higher supply chain costs.
Revenue for the third quarter increased to $1,585 million, up 8% from $1,471 million in Q3 2024, driven by higher production activity on Boeing, Airbus, and Defense & Space programs. However, operating loss increased to $647 million, primarily due to higher changes in estimates charges and lower program margins on Boeing programs.
Net forward losses in Q3 2025 totaled $585 million, mainly from the Boeing 737, Boeing 787, Airbus A220, and Airbus A350 programs, largely due to supply chain and production cost growth. Cash used in operations improved to $187 million from $276 million in Q3 2024, but the cash balance at quarter-end was $299 million.
Spirit reiterated 'substantial doubt about the Company's ability to continue as a going concern,' emphasizing the need for additional funding. The proposed merger with Boeing and the divestiture to Airbus are expected to close in the fourth quarter of 2025, with EU antitrust approval secured on October 13, 2025.
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