Grade History
| Quarter | Disclosure Quality | Financial Quality |
|---|---|---|
| Q1'25 → | B+ | B |
| Q2'25 → | B+ | B+ |
| Q3'25 → | A+ | A |
| Q4'25 → | B+ | B |
| Q1'26 → | A | A |
Promise Ledger · All Quarters
| Marked | Promise | Status | |
|---|---|---|---|
| Q1'26 | ⏳ | Investigating aeroderivatives for data centers Discussions continuing but admit long sales cycle and unclear long-term demand | pending |
| Q1'26 | ✅ | $1B share buyback program authorized in December New $1B program announced, previous one presumably utilized | delivered |
| Q1'26 | ⏳ | Maintenance contribution to normalize Will remain elevated through first half, normal in second half | pending |
| Q1'26 | ⏳ | Spirit aircraft returning to service 'latter part of this year' Timeline remains on track but some will slip to 2027 | pending |
| Q1'26 | ✅ | Asset sales of $2-3B for 2026 Now expecting over $3B with strong Q1 performance | exceeded |
| Q1'26 | ✅ | Adjusted EPS range of $12-13 for 2026 Raised to $14.50 after Q1 beat | exceeded |
| Q4'25 | ✅ | Q3: Sales for full year to be over $3B Hit $3.9B, exceeding the updated projection | delivered |
| Q4'25 | ✅ | Q3: Spirit aircraft acquisition provides superior timing/pricing Secured 52 firm plus 45 options, claiming better terms than direct OEM order | delivered |
| Q4'25 | ✅ | Q3: Majority of Spirit engine costs in Q4 Took majority of engine shop costs in Q4 as indicated, though some timing uncertainty remains | delivered |
| Q4'25 | ✅ | Q3: Expected first 777 freighter delivery in September First converted 777-300ER freighter delivered as promised | delivered |
| Q4'25 | ✅ | Q3: Increased 2025 EPS guidance to $13.70 Delivered $15.37 adjusted EPS, $1.67 above guidance | exceeded |
| Q4'25 | ✅ | Q3: Raised full-year sales volume guidance to $2.5B Delivered $3.9B in sales, 56% above updated guidance | exceeded |
| Q3'25 | ✅ | Ukraine recoveries to continue $475M in Q3 bringing total to ~$2.9B since 2023 | delivered |
| Q3'25 | ⏳ | Air France-KLM partnership to finalize later in 2025 Still expected per Q3 call, but no specific timeline given | pending |
| Q3'25 | ⏳ | $3 billion additional equipment purchases through 2025 Still on track per Q3 commentary | pending |
| Q3'25 | ⏳ | Stock-based compensation to return to ~$30M/quarter Not specifically updated in Q3 call, need to verify in Q4 | pending |
| Q3'25 | ✅ | Sales to be around $2.5 billion for full year 2025 Now expecting over $3 billion with Q3's $1.5B alone, 20% above guidance | exceeded |
| Q2'25 | ✅ | Continue to deploy excess capital effectively Deployed $3B in new equipment and $1B+ in share repurchases year-to-date | delivered |
| Q2'25 | ⏳ | Air France-KLM partnership to be finalized later in the year Still in progress, no specific timeline given beyond 'later in the year' | pending |
| Q2'25 | ⏳ | Stock-based compensation to normalize to around $30M quarterly Q2 was higher than normal due to upfront recognition, normalization expected going forward | pending |
| Q2'25 | ⏳ | Expected around $2.5 billion in sales for full year Reiterated $2.5B target with $470M in held-for-sale inventory | pending |
| Q2'25 | ✅ | We'd expect to be in the top half of the $9.30-$10.30 EPS range Raised guidance to $11.60, well above the top half of prior range | exceeded |
| Q1'25 | ❌ | Extension rates around 90% in recent quarters 84% in Q1, management noted 'little bit lower' due to selective non-renewals | missed |
| Q1'25 | ✅ | Continue generating strong gains on sale 35% unlevered margin on $177M Q1 gains, though below Q4 record | delivered |
| Q1'25 | ✅ | Net maintenance contribution $30-40M per quarter average $82M in Q1 but management says timing-driven, maintaining guidance | exceeded |
| Q1'25 | ✅ | $1B share repurchase program deployment $1B+ already deployed through April, new $500M program added | delivered |
| Q1'25 | ✅ | 2025 EPS guidance of $8.50-9.50 excluding gains on sale Raised to $9.30-10.30 after Q1 outperformance | exceeded |
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