Thomas C. Gentile
Welcome XXXX quarter first everyone. Spirit's good to you, morning, and Thank Kailash, earnings call.
Asco and we lot announcing for we is be we time. slide a to delighted discuss, importantly, Spirit, company quarter have a all one agreement items have are for an a watching of on Most This long acquire X. an exciting been including to the Industries, to
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turning to today's announcements page Now, X. strategic on
company acquisition last to On Asco Industries, is presentation saw this of X morning, an strategy we on been page you of time. year. the the at very As shared for Investor our release that exceptional we Day long our monitoring Spirit are have a this we announce excited
is defense a business broadens compelling and fabrication strategic F-XX, the Asco AXXX and content bid as on expands our for Airbus new Spirit the initiative. our wings, growth on adds acquisition AXXX content
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for Asco reputation and is an a supplier critical with innovation, to OEMs exceptional quality, Tier X and manufacturers delivery.
also efforts as strength our adds by our property existing next-generation Asco both complement to aerostructures. R&D to bringing on product process well as intellectual in programs, IP
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We share also actions we the $XXX of portion quarter $XXX a to to accelerated a the the to repurchases total during shares our intend authorization. $XX the proceeds million plan repurchase million out repurchase to billion current of second of of year repurchased use this addition in refinancing fund first will $X of share bring our quarter our XXXX. in These of million
have we and in Our grow see we At the investing business, to an we our long-term ourselves. confidence to stock opportunity are outlook. time, invest same in in remains Asco our undervalued,
the cash target and back using times. maturity to that But do the new outlined strategy remainder described. generate any on beyond ratio year additional our keep some we of repurchases rest this debt will have our not X. page around I've the debt-to-EBITDA pay year We over our a we share of of what two shorter in be making the of just at We capital anticipate deployment to
in supplier I quarter substantially and higher As to disruption earlier, over we said incurred resources. related expedited time, surge costs freight the first
to quarter continue Some over to production schedule. recover our the of will second which carry into as we
maintaining are ASR. operational challenges in our guidance steps We our these offset full-year as the by remedial are
In will progress. you recovery addition, their plans the continue we throughout update year to on and we'll operational drive our
plans supplements our outlook. acquisitions, as board a pursue XX% or shareholder while authorized to of per our total capital we dividend deployment leaves This continuing to shareholder in return, us investments share, part $X.XX over and our value-creating gradually our them, with to further robust plan strategy our our with of is that in total in sufficient any growth line maximizing long-term demonstrating returns. our Finally, fund dividend increase capital quarterly growing can has if to organic find drive flexibility confidence time
us. acquisition to the Our win Asco with of debt for leaves is plan flow financing summary, In to cash us plenty as well. use terrific flexibility a for retire our
with delighted company and are its the We team.
as to is The Asco, that us world-class confidence that, additional share R&D will and an of dividend and exemplify the Asco built financial following ASR content commitment combined increased for outlook. this Sanjay? our plans long-term as also well in and a our through than refinancing with strategic fact deployment as lead you whose XX Spirit manufacturing our that for and compelling deal. strategy adds family balanced Christian detailed growth. remain long-term Sanjay a with Spirit's capital capabilities, as initiative, positioning debt The benefit more military years, acquisition With has our Airbus results. buyback our Boas, well Asco expands and fit our is acquisition I'll the to ask owned
