From RTTNews:

Spirit AeroSystems reported a fourth quarter net income of $59 million, a significant improvement from last year’s loss of $243 million. Income per share was $0.52 compared to a loss of $2.32. Adjusted income per share was $0.48 compared to a loss of $1.46, beating analysts’ expectations of $0.87 per share. Operating income was $198 million, up from a loss of $139 million last year. Revenues were $1.81 billion, up 37% from prior year. Overall deliveries increased to 398 shipsets compared to 343 last year. The backlog at the end of the fourth quarter was approximately $49 billion.

Spirit AeroSystems partially attributed the improved operating income to the favorable impact of the Boeing MOA executed in October 2023 to the Boeing 787 program, including favorable changes in estimates and a material right obligation liability reversal recognized during the fourth quarter of 2023.

The company noted that it will not be providing guidance at this time until there is further clarity on the timing of 737 MAX production rate increases from customer in relation to FAA approval and ongoing price negotiations with Airbus.

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Read more: Spirit AeroSystems Reports Profit In Q4