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    George Shapiro

    Managing Director and Senior Analyst at Shapiro Research

    George Shapiro is a Managing Director and Senior Analyst at Shapiro Research, specializing in the aerospace, defense, and industrial sectors. He provides in-depth coverage of leading companies such as Boeing, Lockheed Martin, Raytheon Technologies, and General Dynamics, consistently earning recognition for his accurate forecasts and robust research. With a track record including top-tier analyst rankings on platforms like TipRanks, Shapiro boasts a success rate near 68% and has generated average returns of approximately 15% on his recommendations. He began his career in the late 1980s and prior to joining Shapiro Research in 2005, held analyst roles at Salomon Smith Barney and Citigroup, and holds FINRA Series 7, 63, and 86/87 licenses.

    George Shapiro's questions to Spirit AeroSystems Holdings (SPR) leadership

    George Shapiro's questions to Spirit AeroSystems Holdings (SPR) leadership • Q1 2024

    Question

    George Shapiro of Shapiro Research asked what it will take to resolve the Airbus negotiations and questioned if the recent operating margin pressure was temporary or a long-term structural issue.

    Answer

    CEO Pat Shanahan stated that threats are not effective with Airbus and that resolution will come from partnership, though it may require a few more 'family meetings.' He stressed that financial risk becomes operational risk. CFO Mark Suchinski addressed the margin question, explaining the pressure is from near-term, one-time investments in the new inspection process and should not have a long-term negative impact on profitability.

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    George Shapiro's questions to Spirit AeroSystems Holdings (SPR) leadership • Q1 2024

    Question

    George Shapiro of Shapiro Research asked what it will take to resolve the Airbus negotiations and questioned the drivers behind the decline in underlying operating margin.

    Answer

    CEO Pat Shanahan stated that threats are ineffective and that partnership and 'real family meetings' are needed, emphasizing that financial risk becomes operational risk. CFO Mark Suchinski explained the margin pressure is a near-term result of the disruptive but necessary investment in the new inspection process, which he does not expect to have a long-term negative impact.

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    George Shapiro's questions to Spirit AeroSystems Holdings (SPR) leadership • Q4 2023

    Question

    Questioned why the Q4 commercial margin was lower than Q1 despite higher 737 deliveries and asked if the higher Q4 CapEx spend would benefit 2024 cash flow.

    Answer

    Management confirmed the Q4 margin was depressed by significant investments made to stabilize the factory and recover the schedule. They also agreed that the accelerated CapEx spend in Q4 would provide some benefit to 2024.

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