By STAMFORD, Conn. – Hexcel Corporation (NYSE:HXL) reported third quarter earnings that narrowly beat analyst expectations, while revenue came in slightly below estimates. The aerospace materials manufacturer also provided full-year guidance that was largely in line with Wall Street forecasts.
Hexcel’s stock dipped 0.52% in after-hours trading Monday.
Hexcel posted adjusted earnings per share of $0.47 for the third quarter, edging past the analyst consensus of $0.46. Revenue for the period totaled $457 million, falling just short of the $458.18 million analysts had projected.
For the full fiscal year 2024, Hexcel forecasts earnings per share between $2.02 and $2.18, compared to the $2.05 consensus estimate. The company expects annual revenue in the range of $1.9 billion to $1.98 billion, with the midpoint of $1.94 billion slightly above the $1.92 billion analyst projection.
“Our third quarter results demonstrate the continued strength in our core aerospace markets,” said Nick Stanage, Chairman, CEO and President of Hexcel. “While we saw a slight revenue miss, our ability to exceed earnings expectations reflects our ongoing focus on operational efficiency.”
The company’s Board of Directors declared a regular quarterly cash dividend of $0.15 per share, payable on November 8, 2024, to stockholders of record as of November 1, 2024.
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