Spirit AeroSystems reported a net loss of $631 million, or $(5.36) per diluted share, for the second quarter of 2025. This represents an increase in loss compared to $(3.56) per diluted share in Q2 2024.
Revenue for the second quarter increased to $1,635 million, up 10% from $1,492 million in Q2 2024, primarily due to higher production activity on most Boeing programs, particularly the 737 and 787. However, the operating loss increased due to losses on dispositions of businesses related to the planned transfer of certain assets to Airbus, totaling $133 million.
Cash used in operations improved significantly to $144 million in Q2 2025 from $566 million in Q2 2024, largely due to working capital timing driven by higher Boeing 737 deliveries. The company's cash balance at the end of Q2 2025 was $370 million.
Spirit reiterated 'substantial doubt about the Company's ability to continue as a going concern,' citing ongoing reductions in projected revenue and cash flows. The merger with Boeing and the divestiture to Airbus are now expected to close in the fourth quarter of 2025, subject to regulatory approvals.
The company also noted a favorable resolution of litigation with a former CEO, which is expected to result in a reversal of approximately $48 million in accrued liabilities in the third quarter of 2025.
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