secwatch.observer — SEC 8-K summary
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Issuer:     HEXCEL CORP /DE/ (HXL)
CIK:        0000717605
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0000950170-23-014100
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717605/000095017023014100/0000950170-23-014100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717605/000095017023014100/hxl-20230424.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-014100

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