Hexcel Corporation (HXL - Free Report) reported third-quarter 2018 adjusted earnings of 80 cents per share, which came in line with the Zacks Consensus Estimate. The bottom line improved 12.7% from the prior-year quarter’s figure of 71 cents.
In the reported quarter, the company’s GAAP earnings came in at 91 cents compared with the year-ago quarter’s figure of 76 cents.
Total Revenues
The company’s net sales totaled $540.5 million, which missed the Zacks Consensus Estimate of $544 million by 0.6%. However, the top line witnessed an increase of 10% from the year-ago quarter’s figure of $491.5 million.
Operational Update
Hexcel's gross margin was 26.5% in the third quarter, reflecting a contraction of 110 basis points year over year.
The company’s operating expenses amounted to $46.5 million in the quarter, which came in line with the year-ago quarter’s operating expenses. Selling, general and administrative expenses were down by 6%, while research and technology expenses were up 17.8 %.
Quarterly Performance
Commercial Aerospace: Net sales were up 5.8% year over year to $373.1 million. The uptick can be attributed to a number of Bombardier, Embraer and Dassault programs along with new commercial aircraft programs.
Space and Defense: Net sales rose 9.3% year over year to $90.4 million, primarily owing to growth across a number of military, rotorcraft and space programs.
Industrial: Net sales surged 37% year over year to $77 million, driven by high wind energy sales.
Hexcel Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Hexcel Corporation (HXL - Free Report) reported third-quarter 2018 adjusted earnings of 80 cents per share, which came in line with the Zacks Consensus Estimate. The bottom line improved 12.7% from the prior-year quarter’s figure of 71 cents.
In the reported quarter, the company’s GAAP earnings came in at 91 cents compared with the year-ago quarter’s figure of 76 cents.
Total Revenues
The company’s net sales totaled $540.5 million, which missed the Zacks Consensus Estimate of $544 million by 0.6%. However, the top line witnessed an increase of 10% from the year-ago quarter’s figure of $491.5 million.
Operational Update
Hexcel's gross margin was 26.5% in the third quarter, reflecting a contraction of 110 basis points year over year.
The company’s operating expenses amounted to $46.5 million in the quarter, which came in line with the year-ago quarter’s operating expenses. Selling, general and administrative expenses were down by 6%, while research and technology expenses were up 17.8 %.
Quarterly Performance
Commercial Aerospace: Net sales were up 5.8% year over year to $373.1 million. The uptick can be attributed to a number of Bombardier, Embraer and Dassault programs along with new commercial aircraft programs.
Space and Defense: Net sales rose 9.3% year over year to $90.4 million, primarily owing to growth across a number of military, rotorcraft and space programs.
Industrial: Net sales surged 37% year over year to $77 million, driven by high wind energy sales.
Hexcel Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on TXT - FREE
Get the latest research report on AIR - FREE
Get the latest research report on HXL - FREE