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Stock impact report

Hexcel's stock rises after quarterly earnings beat estimates [Seeking Alpha]

Hexcel Corporation (HXL) 
Last hexcel corporation earnings: 2/3 04:10 pm Check Earnings Report
Company Research Source: Seeking Alpha
Shares of Hexcel ( HXL ) rose 3% in extended trading Monday. The company's net income fell about 14% to $36.5 million, or $0.43 a share, in the first quarter from $42.7 million, or $0.50 a share, a year earlier. Earnings adjusted for one-time items were $0.44 a share, beating the average estimate of $0.42 among Wall Street analysts. Revenue rose 3.2% from a year earlier to $472.3 million for the three-month period through March 31, missing the consensus estimate of $475.2 million. Sales for its space and defense unit rose 10% from the prior year, while commercial aerospace sales advanced 5.2%. Hexcel reaffirmed its full-year sales guidance of $1.93 billion to $2.03 billion for 2024. “Our commercial aerospace market continues to build momentum with our first quarter 2024 sales growing sequentially from the fourth quarter of 2023, including growth in both widebody and narrowbody programs,” Nick Stanage, chairman, chief executive and president of Hexcel ( HXL ), said in a st Show less Read more
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