Hexcel Q3 sales $457M (+8.8% YoY); adjusted EPS $0.47; withdraws mid-term guidance

HEXCEL CORP /DE/

Commercial Aerospace sales up 17.5% to $295.9M; Space & Defense flat at $128.2M; Industrial down 16.5% to $32.4M.
Full-year 2024 sales and adjusted EPS expected at lower end of guidance ranges; effective tax rate reduced to ~19% from 22%.
Withdraws previously issued mid-term guidance for 2024-2026; cites supply chain delays and slower production rate ramps.
Repurchased $50M of stock in Q3 ($252M YTD); declared $0.15 quarterly dividend payable Nov 8.
Free cash flow YTD $58.9M vs $3.7M a year ago; capex $68.4M (cash basis).

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