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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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