Loading...
•
Dec 31, 2023
Hexcel Q4 2023 Earnings Report
Hexcel's Q4 2023 earnings were reported, featuring sales of $458 million and adjusted diluted EPS of $0.43. The company divested its interest in the Boeing/Hexcel ACM JV and strategically bought out its UK pension plan.
Key Takeaways
Hexcel Corporation reported a 6.5% increase in net sales for Q4 2023, reaching $457.5 million compared to $429.4 million in Q4 2022. Adjusted diluted EPS increased to $0.43 from $0.40 in the same quarter last year. The company's commercial aerospace and space & defense sectors demonstrated strong growth, while the industrial sector experienced a decline. Hexcel also completed the strategic buy-out of its UK defined benefit pension plan and divested its 50% interest in the Boeing/Hexcel 50:50 ACM JV to Boeing.
Q4 2023 sales reached $458 million, up from $429 million in Q4 2022.
Adjusted diluted EPS for Q4 2023 was $0.43, compared to $0.40 in Q4 2022.
The company divested its 50% interest in the Boeing/Hexcel 50:50 ACM JV to Boeing.
A strategic buy-out of the UK defined benefit pension plan was completed in Q4 2023, resulting in a $1.9 million cash surplus returned to Hexcel and a non-cash charge of $70.5 million impacting GAAP EPS.
Revenue by Geographic Location
Forward Guidance
Hexcel projects sales between $1.925 billion and $2.025 billion and adjusted diluted earnings per share between $2.10 and $2.30 for 2024. They also anticipate free cash flow exceeding $200 million.
Positive Outlook
- Commercial Aerospace: Up mid-teens
- Free cash flow of greater than $200 million
- Operational margins are expected to continue to grow
- The business benefits from increased operating leverage and enhanced productivity
- Another year of strong EPS growth is forecasted in 2024
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...