Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Q1 2023 Earnings Conference Call May 3, 2023 11:00 AM ET

Company Participants

Ryan Avey - Senior Director, Investor Relations & FP&A

Tom Gentile - President & Chief Executive Officer

Mark Suchinski - Senior Vice President & Chief Financial Officer

Conference Call Participants

Seth Seifman - JPMorgan

Ken Herbert - RBC

Sheila Kahyaoglu - Jefferies

David Strauss - Barclays

Doug Harned - Bernstein

Cai von Rumohr - Cowen

Myles Walton - Wolfe Research

Rob Spingarn - Melius Research

George Shapiro - Shapiro Research

Kristine Liwag - Morgan Stanley

Michael Ciarmoli - Truist

Noah Poponak - Goldman Sachs

Peter Arment - Baird

Operator

Good morning, ladies and gentlemen, and welcome to Spirit AeroSystems Holdings Incorporated First Quarter 2023 Earnings Conference Call. My name is Jason, and I'll be the coordinator today. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]

I would now like to turn the presentation over to Ryan Avey, Senior Director of Investor Relations and FP&A. Please proceed.

Ryan Avey

Thank you, Jason, and good morning, everyone. I'm Ryan Avey, and with me today are Spirit's President and Chief Executive Officer, Tom Gentile; and Senior Vice President and Chief Financial Officer, Mark Suchinski.

Before we begin, I need to remind you that any projections or goals we may include in our discussion today are likely to involve risks, including those detailed in our earnings release and our SEC filings and in the forward-looking statement at the end of this web presentation. In addition, we refer you to our earnings release and presentation for disclosures and reconciliation of non-GAAP measures we use when discussing our results.

With that, I'd like to turn the call over to our Chief Executive Officer, Tom Gentile.

Tom Gentile

Thank you, Ryan, and good morning, everyone. Welcome to Spirit's first quarter results call. I want to begin today by providing an update to the quality issue with the vertical fin attached fittings, certain models of the 737 fuselage that Spirit builds. After identifying the issue, our top priority was to work with Boeing and the FAA for their confirmation that it was not an immediate safety of flight issue. Once we confirm this, we turned our attention to ensuring our ongoing production meets manufacturing standards. We have revised our assembly process in production, have restarted production and have resumed shipments of conforming fuselages to Boeing.