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Dec 31, 2019
Hexcel Q4 2019 Earnings Report
Hexcel reported fourth quarter and full year 2019 results, with Q4 sales of $564 million and GAAP diluted EPS of $0.86 per share.
Key Takeaways
Hexcel's Q4 2019 completed a strong year, returning $0.86 of diluted EPS and $172 million of free cash flow. Revenue for the full year was $2,356 million, up 8.6% in constant currency compared to 2018, with adjusted diluted EPS for the year coming in 16% above 2018 at $3.54. Free cash flow for 2019 was $287 million, an increase of 21% over 2018.
Q4 2019 GAAP diluted EPS was $0.86, an increase of 13% above Q4 2018 GAAP diluted EPS and an increase of 5% above Q4 2018 Adjusted diluted EPS of $0.82.
Q4 2019 Sales were $564 million, compared to $561 million in the fourth quarter 2018.
FY 2019 GAAP diluted EPS was $3.57 vs FY 2018 at $3.11.
Record FY 2019 free cash flow generated of $287 million.
Revenue by Segment
Forward Guidance
Hexcel is forecasting flat-to-low-single-digit revenue growth for 2020 and low-to-mid-single-digit EPS growth. Free cash flow is expected to be greater than $300 million.
Positive Outlook
- Sales: Flat-to-low-single-digit growth
- Adjusted diluted earnings per share: Low-to-mid-single-digit growth
- Free cash flow greater than $300 million.
Challenges Ahead
- Commercial Aerospace: Down low-to-mid-single-digit
- Underlying effective tax rate is estimated at 23.0%.
- Accrual basis capital expenditures of $100 million to $120 million.
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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