Hexcel Revises Full Year Guidance - Update

(RTTNews) - Hexcel (HXL) said, for 2024, the company now expects adjusted earnings per share in a range of $2.02 to $2.18, revised from prior guidance of $2.10 - $2.30. Sales are now projected in a range of $1.90 billion to $1.98 billion, revised from previous guidance of $1.925 billion to $2.025 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.21 on revenue of $1.95 billion. Analysts' estimates typically exclude special items.

Second quarter net income was $50.0 million, or $0.60 per share compared with $42.5 million, or $0.50 per share, in last year's second quarter. Adjusted EPS was $0.60, compared to $0.50, a year ago. Analysts on average had expected the company to earn $0.56 per share.

Sales were $500 million, an increase of 10.1% from $454 million, last year, or up 10.5% in constant currency. Analysts on average had estimated $483.36 million in revenue.

Hexcel announced that the Board has declared a regular quarterly cash dividend of $0.15 per share on the common stock of Hexcel, payable to stockholders of record as of August 2, 2024, with a payment date of August 9, 2024.

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