Close

Hexcel (HXL) Tops Q3 EPS by 3c; Bumps Outlook

October 20, 2014 4:09 PM EDT

Hexcel (NYSE: HXL) reported Q3 EPS of $0.57, $0.03 better than the analyst estimate of $0.54. Revenue for the quarter came in at $451.9 million versus the consensus estimate of $460.28 million.

Hexcel sees FY2014 EPS of $2.10-$2.16, versus prior guidance of $2.06-$2.14 and the consensus of $2.12.

Mr. Stanage commented, “This was another record quarter for Hexcel, as continued solid execution combined with strong Commercial Aerospace sales enabled us to deliver the highest adjusted operating income percentage and net income in our history. For the quarter, our adjusted diluted EPS of $0.57 was 18.8% higher than last year, on a 9.5% increase in constant currency sales. We are particularly pleased that this quarter we achieved an operating income margin of 17.5% and year to date we have exceeded our target adjusted operating income leverage of 23%.”

Looking ahead, Mr. Stanage said, “We continue to deliver strong year-over-year performance as we build for the future. For 2014, we expect Commercial Aerospace sales to continue its strong pace. Recovery of our Industrial sales – led by wind energy – should offset Space & Defense revenues which are projected to be lower than our prior expectations. With total sales as expected, strong operational performance allows us to raise our 2014 earnings guidance. We remain on-track to achieve our mid-term goal of $2.5 billion in sales by the end of 2017 based on our customers’ forecasted buildrates. Consequently, we continue to invest in technology, capacity expansion, manufacturing innovations and our people, while staying focused on delivering our 23% operating income leverage target.”

For earnings history and earnings-related data on Hexcel (HXL) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance, Management Comments

Related Entities

Earnings