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Bad Weather Leads To Damage, Disruption For Kansas Supplier

Spirit Aerosystems suspended production through at least Tuesday and said it expects near-term delivery disruptions.

WICHITA, Kan. (AP) — Aircraft parts supplier Spirit AeroSystems Inc. said Monday that its Wichita, Kan., facility sustained structural damage during a Saturday tornado.

The company said its production equipment appears to be largely unaffected and most of the damage occurred to buildings and utilities.

Spirit has suspended production through at least Tuesday and said it expects near-term delivery disruptions as it works to recover from the storm.

Jefferies & Co. analyst Howard Rubel said in a note to clients on Monday that about 80 percent of the areas damaged at the Wichita plan should resume operations fairly quickly.

Spirit's second plant, which produces the Boeing 737 fuselage and works on the 747, 767, and 777 aircraft, is largely intact, he said.

Disruption from the tornado is not going to result in lost revenue, he said, and he doesn't expect major delays in shipments to Boeing, which could have a ripple effect.

Rubel estimates repair costs and other impacts from the storm will cut Spirit's second-quarter earnings by about 10 cents to 15 cents per share, assuming the company can't speed up production later on to make up for the temporary shutdown.

Spirit's shares fell 41 cents to $24 by mid-afternoon but that was still near their 52-week high of $26. They have climbed fairly steadily since hitting a low of $14.27 in August, following the company's struggles with its union to reach a new contract deal.