UPDATE: Hexcel Corp. (HXL) Tops Q3 EPS by 2c, Miss on Revenues; Lifts FY18 Revenue Mid-Point Outlook, Narrows FY18 EPS Outlook
Hexcel Corp. (NYSE: HXL) reported Q3 EPS of $0.80, $0.02 better than the analyst estimate of $0.78. Revenue for the quarter came in at $540 million versus the consensus estimate of $547.21 million.
- Q3 2018 GAAP diluted EPS was $0.91 compared to $0.76 in Q3 2017.
- Adjusted diluted EPS was $0.80 compared to Q3 2017 EPS of $0.71, an increase of 12.7% year over year.
- Q3 2018 sales of $540 million increased 10.0% compared to Q3 2017 (10.4% in constant currency).
- Free cash flow of $128 million year to date is $41 million higher compared to the same period in 2017.
Chairman, CEO and President Nick Stanage said: “We delivered another solid quarter including $0.80 of adjusted EPS, an increase of 12.7% compared to the third quarter of 2017. Our markets continue to strengthen with growth in all areas. Year to date, free cash flow is now $41 million higher than at the same time in 2017, continuing our strong cash generation transition. The Company continues to drive productivity and efficiency in all areas of the business to ensure consistently high performance. We remain committed to delivering our guidance for 2018 and have narrowed the ranges for revenue and EPS. Our focus continues to be driving innovation and operational excellence to position us for new programs and to deliver strong, sustainable financial results.”
GUIDANCE:
Hexcel Corp. sees FY2018 EPS of $2.99-$3.07, versus the consensus of $3.03. Hexcel Corp. sees FY2018 revenue of $2.14-2.2 billion, versus the consensus of $2.19 billion.
For earnings history and earnings-related data on Hexcel Corp. (HXL) click here.