Spirit AeroSystems Holdings, Inc. reported its fourth-quarter and full-year 2024 financial results, highlighting several key metrics. The company posted revenues of $1.7 billion for the quarter, with a net loss per share of $(5.38) and an adjusted net loss per share of $(4.22). Free cash flow for the quarter was $91 million.

CEO Pat Shanahan noted progress toward the anticipated Boeing acquisition, expected to close in mid-2025, while CFO Irene Esteves emphasized improved deliveries, including a doubling of Boeing 737 deliveries compared to the prior quarter.

Despite this progress, the company cited financial challenges, including increased costs and lower-than-expected 737 production rates, leading to a significant operating loss. Spirit secured financial agreements with Boeing and Airbus, receiving advance payments of $200 million and $70 million, respectively, to support liquidity. However, management acknowledged substantial doubt about the company’s ability to continue as a going concern without further financial support or restructuring.

The pending merger with Boeing remains under regulatory review, with approval processes still ongoing. In addition, Spirit is taking steps to improve liquidity, including potential asset divestitures and operational restructuring.

Spirit's backlog at the end of 2024 stood at approximately $47 billion, reflecting its role in major Boeing and Airbus programs. The company's financial struggles continue to pose challenges despite operational improvements.