Welcome to our dedicated page for Hexcel news (Ticker: HXL), a resource for investors and traders seeking the latest updates and insights on Hexcel stock.
Hexcel Corporation reports developments in advanced lightweight composite materials for commercial aerospace, defense and space, and industrial applications. Its news commonly covers quarterly results, aircraft production-rate demand, dividends, customer supplier recognition, leadership changes, and product categories including carbon fiber, specialty reinforcements, prepregs, honeycomb, resins, engineered core, and composite structures.
Hexcel (NYSE: HXL) reported strong Q2 2024 results with sales of $500 million, up 10.1% year-over-year. GAAP diluted EPS rose to $0.60 from $0.50 in Q2 2023. Commercial Aerospace sales increased by 21.3%, driving overall growth. However, the company revised its full-year 2024 guidance, citing caution due to aircraft delivery levels and customer production plans.
Key financial highlights:
- Q2 2024 adjusted operating income: $72.0 million (14.4% of sales)
- Net income: $50.0 million, up 17.6% year-over-year
- Commercial Aerospace sales: $320.7 million, up 21.3%
- Space & Defense sales: $138.9 million, up 1.0%
- Industrial sales: $40.8 million, down 22.3%
The company repurchased $100 million of common stock in Q2, bringing the total 2024 repurchases to $200 million.
Hexcel (NYSE: HXL) has scheduled its second quarter 2024 earnings release for Thursday, July 18, before the market opens. A webcast and conference call to discuss the financial results will follow at 10 a.m. ET, hosted by CEO Tom Gentile and CFO Patrick Winterlich. The webcast will be accessible through the Investor Relations page on Hexcel's website, and a replay will be available approximately two hours after the call concludes.
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