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Sep 30, 2023
Hexcel Q3 2023 Earnings Report
Hexcel reported Q3 2023 results with net sales of $420 million and adjusted diluted EPS of $0.38 per share.
Key Takeaways
Hexcel's Q3 2023 sales increased by 15% year-over-year, driven by robust growth in Commercial Aerospace and sustained demand in Space and Defense markets. The company delivered a double-digit operating margin of 10.2% and an adjusted EPS of $0.38, a 15% increase year-over-year.
Q3 2023 Sales were $420 million, an increase of 15.0% over Q3 2022 sales of $365 million (13.2% increase in constant currency).
Q3 2023 GAAP diluted EPS of $0.45 compared to Q3 2022 GAAP diluted EPS of $0.31.
Q3 2023 adjusted diluted EPS of $0.38, compared to Q3 2022 adjusted diluted EPS of $0.33.
FY 2023 guidance is reaffirmed.
Hexcel
Hexcel
Hexcel Revenue by Segment
Revenue by Segment
Composite Materials Revenue
CapyFin.comEngineered Products Revenue
CapyFin.com Forward Guidance
Hexcel reaffirms its FY 2023 guidance, including sales of $1.765 billion to $1.835 billion, adjusted diluted earnings per share of $1.80 to $1.94, and free cash flow of greater than $110 million.
Positive Outlook
- Sales of $1.765 billion to $1.835 billion
- Adjusted diluted earnings per share of $1.80 to $1.94
- Free cash flow of greater than $110 million
- Accrual basis capital expenditures of approximately $130 million
- Underlying annual effective tax rate is estimated to be 21% (previously 23%)
Revenue & Expenses
Visualization of income flow from segment revenue to net income