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Jun 30, 2023
Hexcel Q2 2023 Earnings Report
Hexcel's second quarter demonstrated strong execution, delivering a 16% year-over-year increase in sales and a more than 50% increase in adjusted earnings per share.
Key Takeaways
Hexcel Corporation reported second quarter 2023 results with net sales of $454 million and adjusted diluted EPS of $0.50 per share. The company raised its full year sales and adjusted EPS guidance based on confidence for the remainder of the year.
Q2 2023 GAAP diluted EPS was $0.50, compared to $0.53 in Q2 2022.
Q2 2023 adjusted diluted EPS was $0.50, compared to $0.33 in Q2 2022.
Q2 2023 Sales were $454 million, a 15.6% increase over Q2 2022 sales of $393 million (14.7% increase in constant currency).
FY 2023 sales guidance revised to $1.765 billion to $1.835 billion, previously $1.725 billion to $1.825 billion. Adjusted EPS revised to $1.80 to $1.94, previously $1.70 to $1.90.
Hexcel
Hexcel
Hexcel Revenue by Segment
Hexcel Revenue by Geographic Location
Revenue by Segment
Composite Materials Revenue
CapyFin.comEngineered Products Revenue
CapyFin.comRevenue by Geographic Location
Commercial Aerospace Revenue
CapyFin.com Forward Guidance
Hexcel provided the following guidance for 2023:
Positive Outlook
- Sales of $1.765 billion to $1.835 billion (previously $1.725 billion to $1.825 billion)
- Adjusted diluted earnings per share of $1.80 to $1.94 (previously $1.70 to $1.90)
- Free cash flow of greater than $110 million (previously greater than $140 million)
- Accrual basis capital expenditures of approximately $130 million (previously approximately $90 million)
- Underlying annual effective tax rate is estimated to be 23% (unchanged)
Revenue & Expenses
Visualization of income flow from segment revenue to net income