Spirit AeroSystems Holdings, Inc. SPR posted second-quarter 2017 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate by 30.8%. Earnings improved 29.8% from the year-ago figure of $1.21.Highlights of the ReleaseTotal revenue of $1,826.1 million in the second quarter surpassed the Zacks Consensus Estimate of $1,716.3 million by 6.4%. However, revenues dropped 0.2% year over year.Backlog at the end of the reported quarter was $46 billion, in line with the prior-quarter backlog figure.Spirit Aerosystems Holdings, Inc. Price, Consensus and EPS Surprise Spirit Aerosystems Holdings, Inc. Price, Consensus and EPS Surprise | Spirit Aerosystems Holdings, Inc. QuoteSegment PerformanceFuselage Systems: Revenues at the segment grew 1.6% to $938.2 million from the prior-year figure of $923.6 million. The increase was supported by higher production deliveries for the Boeing 737 and increased defense-related activity.Propulsion Systems: The segment recorded revenues of $436.5 million in the reported quarter, down 9.4% from $481.7 million a year ago. The decline was due to lower production deliveries under the Boeing 777 program, lower revenues recognized on the Boeing 787 program and decreased GCS&S activity.Wing Systems: Revenues at the segment increased 6.2% to $450.5 million from $424.2 million in the prior-year quarter.Financial PositionAs of Jun 29, 2017, Spirit AeroSystems had $696.9 million in cash and cash equivalents compared with $697.7 as of Dec 31, 2016.As of Jun 29, 2017, long-term debt (excluding current portion) was $1,060.6 million compared with $1,060 million at the end of 2016.Cash flow from operating activities increased to $334 million in the second quarter from $308.8 million in the year-ago period.Capital expenditure totaled $47 million in the second quarter compared with $54 million in the prior-year quarter.GuidanceSpirit AeroSystems raised its bottom-line financial guidance for 2017. The company currently expects to generate earnings per share in the range of $5.00–$5.25, up from the prior guidance range of $4.60–$4.85. However, revenues are still expected in the band of $6.8−$6.9 billion.Management has also raised its free cash flow to $500–$550 million for 2017 from the prior range of $450−$500 million.Zacks RankThe company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Peer ReleasesRockwell Collins Inc. COL reported financial results for third-quarter fiscal 2017 (ended Jun 30, 2017). The company’s adjusted earnings per share of $1.64 surpassed the Zacks Consensus Estimate of $1.58 by 3.8%. Reported earnings also grew 0.6% from $1.63 per share a year ago.The Boeing Company BA reported adjusted earnings of $2.55 per share for second-quarter 2017, beating the Zacks Consensus Estimate of $2.32 by 9.9%. In the year-ago quarter, the company had reported a loss of 44 cents.Raytheon Company RTN reported second-quarter 2017 adjusted earnings from continuing operations of $1.98 per share, beating the Zacks Consensus Estimate of $1.74 by 13.8%. The figure also improved 5.3% from $1.88 in the year-ago quarter.More Stock News: Tech Opportunity Worth $386 Billion in 2017From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future. Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.See these 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 Boeing Company (The) (BA): Free Stock Analysis Report Rockwell Collins, Inc. (COL): Free Stock Analysis Report Spirit Aerosystems Holdings, Inc. (SPR): Free Stock Analysis Report Raytheon Company (RTN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research