Major 2nd-quarter loss for Wichita-based Spirit AeroSystems

Wichita-based Spirit Aerosystems on Tuesday reported a second-quarter loss of $255.9 million, after reporting a $168 million profit in the same period a year earlier.

The results did not meet Wall Street expectations.

The aircraft parts maker posted revenue of $644.6 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $806.3 million.

Spirit Aerosystems shares have fallen 73% since the beginning of the year. The stock has declined 74% in the last 12 months.

Shares of Spirit Aerosystems fell more than 3% Tuesday, anticipating trouble because of the coronavirus pandemic’s impact on jetliner demand.

The company has been challenged since the March 2019 grounding of the 737 Max after two fatal crashes. Last week, Spirit announced the elimination of 1,000 more jobs because of lower production rates.

Financial losses for airlines worldwide are mounting because of the coronavirus, and some are deferring deliveries or cutting them to reduce their costs.