Hexcel Earnings: Here’s Why Investors are Buying Shares Now
Hexcel Corp. (NYSE:HXL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3.25%.
Hexcel Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10.26% to $0.43 in the quarter versus EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 4.1% to $416.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hexcel Corp. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.41. It missed the average revenue estimate of $417.97 million.
Quoting Management: Mr. Berges, CEO, commented, “This was another good start to the year for Hexcel, as solid execution combined with continued strong aerospace sales delivered excellent results. For the quarter, our adjusted diluted EPS of $0.43 was 10.3% higher than last year, on a 3.9% increase in constant currency sales. Our commercial aerospace and space and defense sales were again up over 10%, and helped offset the nearly 30% decline in industrial sales.”
Key Stats (on next page)…