Hexcel Q1 2023: Sales up 17.2% to $458M, adjusted EPS $0.50 vs $0.22 YoY, guidance reaffirmed

HEXCEL CORP /DE/

GAAP diluted EPS $0.50 vs $0.21 YoY; adjusted diluted EPS $0.50 vs $0.22; operating income $62.8M (13.8% margin) vs $30.1M (8.0%) YoY.
Commercial Aerospace sales $284.5M (+30% YoY) led by A350 and A320neo; Space & Defense $126.2M (+6.8%); Industrial $47.0M (-12.1%) on lower wind energy.
Gross margin improved to 27.9% from 22.2% on volume leverage and favorable mix; free cash flow ($41.5)M vs ($39.9)M YoY.
Board declared $0.125/share dividend payable May 12, record May 5; no share repurchases in Q1; remaining authorization $217M.
Full year 2023 guidance reaffirmed: sales $1.725B-$1.825B, adjusted EPS $1.70-$1.90, free cash flow >$140M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEXCEL CORP /DE/ reported fiscal quarter ended March 31, 2023 results: revenue $458 million, EPS $0.50. Guidance reaffirmed.

Period: fiscal quarter ended March 31, 2023
Revenue: $458 million
EPS: $0.50
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 24, 2023 Hexcel Corporation (the “Company”) issued a press release in which the Company announced its financial results for its fiscal quarter ended March 31, 2023. A copy of this earnings press release is being furnished as Exhibit 99.1 and is incorporated herein by reference. Section 7 – Regulation FD --- EX-99 (EX-99.1) --- EX-99 Hexcel Corporation Two Stamford Plaza | 281 Tresser Blvd., 16 th Floor Stamford, CT 06901 USA www.hexcel.com Exhibit 99.1 HEXCEL REPORTS 2023 FIRST QUARTER RESULTS • Q1 2023 GAAP diluted EPS of $0.50 compared to Q1 2022 GAAP diluted EPS of $0.21. • Q1 2023 adjusted diluted EPS of $0.50, compared to Q1 2022 adjusted diluted EPS of $0.22 • Q1 2023 Sales were $458 million, an increase of 17.2% over Q1 2022 sales of $391 million (18.0% increase in constant currency). • Full year 2023 guidance is reaffirmed.

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Source: SEC EDGAR

accession 0000950170-23-014100

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