Hexcel Q4 2022 Earnings Report
Key Takeaways
Hexcel Corporation reported Q4 2022 sales of $429 million, a 19.2% increase compared to Q4 2021. The company's GAAP diluted EPS was $0.43, and adjusted diluted EPS was $0.40. The results were driven by the robust recovery in the commercial aerospace market and broad global strength in space and defense markets. The company forecasts double-digit growth in sales and adjusted earnings per share for 2023 and expects free cash flow above $140 million.
Q4 2022 sales increased by 19.2% year-over-year to $429 million.
GAAP diluted EPS for Q4 2022 was $0.43, and adjusted diluted EPS was $0.40.
Commercial Aerospace sales increased by 28.3% compared to Q4 2021, driven by growth in major platforms.
Space & Defense sales increased by 19.5% compared to Q4 2021, reflecting broad global strength.
Hexcel
Hexcel
Forward Guidance
Hexcel provided 2023 financial guidance with sales between $1.725 billion and $1.825 billion and adjusted diluted earnings per share between $1.70 and $1.90. The company expects free cash flow to be greater than $140 million and accrual basis capital expenditures of approximately $90 million.
Positive Outlook
- Sales of $1.725 billion to $1.825 billion
- Adjusted diluted earnings per share of $1.70 to $1.90
- Free cash flow of greater than $140 million
Challenges Ahead
- Accrual basis capital expenditures of approximately $90 million
- Underlying effective tax rate is estimated to be 23%