Hexcel reports Q1 EPS 44c, consensus 41c

Reports Q1 revenue $472.3M, consensus $473.8M. Chairman, CEO and President Nick Stanage said, “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. Volume leverage across the business drove sequential margin expansion demonstrating continued strong execution on our upward trajectory. We remain committed to delivering our full-year 2024 and our mid-term guidance as the Hexcel team focuses on growth, margin expansion and cash generation. Reports that global air passenger traffic has now exceeded pre-pandemic levels are encouraging and highlight steadily growing demand for new commercial aircraft and for lightweight composite Hexcel products to build them. We are especially pleased that two airlines recently ordered a sizeable number of new widebody aircraft where Hexcel has significant content. The demand for lightweight, fuel-efficient, composite-intensive aircraft continues to grow, and we remain focused on execution to meet customer demand.”