Hexcel Q2 Profit Tops Estimates; Maintains 2015 Adj. EPS Guidance - Quick Facts

(RTTNews) - Hexcel Corporation (HXL) reported second quarter net income of $61.7 million, or $0.63 per share, compared to $50.6 million or $0.51 per share, last year.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.61 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $475.7 million, 1.2% higher than the $470.1 million reported for the second quarter of 2014. Analysts expected revenue of $485.73 million for the quarter.

CEO, Nick Stanage, said, "This was another strong quarter for Hexcel, as solid execution and strong Commercial Aerospace sales enabled us to deliver excellent results. For the quarter, our adjusted diluted EPS of $0.63 was nearly 15% higher than last year, on a 5% increase in constant currency sales. Our Commercial Aerospace sales were up nearly 8% in constant currency and our Industrial sales increased 1.8% in constant currency sales as compared to the second quarter of 2014, while Space & Defense constant currency sales were flat."

Hexcel revised full year sales outlook to $1.85-$1.90 billion. The company said the decrease is due to the continued strengthening dollar on its Euro and British pound denominated sales, as the company's constant currency view of 2015 sales remains unchanged. The company maintained its 2015 adjusted EPS guidance of $2.33-$2.43. Analysts expect the company to report 2015 earnings per share of $2.43 on revenue of $1.93 billion.

Hexcel also announced that the company's Board has declared a regular quarterly cash dividend of $0.10 per share on the common stock of Hexcel, payable on August 17, 2015 to shareholders of record as of August 3, 2015.