---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-014100"
form_type: "8-K"
ticker: "HXL"
cik: "0000717605"
company_name: "HEXCEL CORP /DE/"
filed_at: "2023-04-24T23:59:59+00:00"
generated_at: "2026-06-16T19:57:41.447329+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-014100
- form_type: 8-K
- ticker: HXL
- cik: 0000717605
- company_name: HEXCEL CORP /DE/
- filed_at: 2023-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/717605/000095017023014100/0000950170-23-014100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/717605/000095017023014100/hxl-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-014100
- JSON: https://secwatch.observer/filing/0000950170-23-014100.json
- Plain text: https://secwatch.observer/filing/0000950170-23-014100.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000095017023014100/0000950170-23-014100-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.