Shares of Spirit AeroSystems Holdings, Inc. SPR rose 13.2% to reach $45.52 on Nov 5 despite lower-than-expected third-quarter results.The company incurred third-quarter 2021 adjusted loss of $1.13 per share, which was wider than the Zacks Consensus Estimate of a loss of 77 cents.The bottom line however improved from the year-ago quarter’s loss of $1.34.Including one-time adjustments, the company reported a GAAP loss of $1.09 per share compared with a loss of $1.50 in the year-ago quarter.The year-over-year upside can be attributed to lower forward loss charges and lower excess capacity costs incurred in the third quarter of 2021 when compared with the last year’s third quarter.Spirit Aerosystems Holdings, Inc. Price, Consensus and EPS Surprise Spirit Aerosystems Holdings, Inc. price-consensus-eps-surprise-chart | Spirit Aerosystems Holdings, Inc. QuoteHighlights of the ReleaseTotal revenues of $980 million missed the Zacks Consensus Estimate by 2.2%. However, the top line improved 22% on a year-over-year basis from $645 million. The upside was driven by higher production deliveries on the Boeing 737 and increased revenues from the recently acquired A220 wing and Bombardier programsBacklog at the end of third-quarter 2021 was $33 billion compared with $34 million at the end of second-quarter 2021.Segment PerformanceFuselage Systems: Revenues in the segment increased 14.3% year over year to $481.2 million in third-quarter 2021, primarily due to higher production volumes from the Boeing 737 and the recently-acquired Bombardier programs.Operating loss for the third quarter of 2021 narrowed to $53.9 million from an operating loss of $96.7 million in the year-ago quarter.Propulsion Systems: The segment recorded revenues of $247.8 million in the reported quarter, up 45.1% year over year. The upside can be attributed to increased revenues from the Boeing 737 program and aftermarket sales.Operating income for the third quarter of 2021 amounted to $21.9 million against an operating loss of $15.6 million in the year-ago quarter.Wing Systems: Revenues in the segment improved a solid 44.4% year over year to $243 million in the third quarter, driven by increased production deliveries on the Boeing 737, Airbus A320 and A220 programs.Operating loss for the third quarter of 2021 narrowed to $15.8 million compared with operating loss of $23.2 million in the year-ago quarter.Operational HighlightsTotal operating costs and expenses increased 15.6% year over year to $1,136.6 million on account of a higher cost of sales, selling, general and administrative expenses, as well as research and development expenses.The company incurred an operating loss of $156.6 million in the third quarter of 2021 compared with an operating loss of $176.9 million in the prior-year quarter.Financial PositionAs of Sep 30, 2021, Spirit AeroSystems had $1,430.6 million of cash and cash equivalents compared with $1,873.3 million as of Dec 31, 2020.At the end of third-quarter 2021, long-term debt totaled $3,546.7 million compared with $3,532.9 million at the end of 2020.Cash flow from operating activities was $13.3 million at the end of third-quarter 2021 against cash outflow of $612.8 million at the end of third-quarter 2020.Zacks RankSpirit AeroSystems currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Defense ReleasesLeidos Holdings, Inc.’s LDOS third-quarter 2021 adjusted earnings of $1.80 per share exceeded the Zacks Consensus Estimate of $1.60 by 12.5%.L3Harris Technologies, Inc.’s LHX third-quarter 2021 adjusted earnings came in at $3.21 per share, which surpassed the Zacks Consensus Estimate of $3.16 by 1.6%.Huntington Ingalls Industries, Inc.’s HII third-quarter 2021 adjusted earnings of $3.58 per share declined 4% from $3.73 reported in the prior-year quarter. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Spirit Aerosystems Holdings, Inc. (SPR): Free Stock Analysis Report Huntington Ingalls Industries, Inc. (HII): Free Stock Analysis Report Leidos Holdings, Inc. (LDOS): Free Stock Analysis Report L3Harris Technologies Inc (LHX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research