NYSE$HXL

Hexcel Corp · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Hexcel reported solid results in the face of supply chain disruptions and inflationary pressures.

Hexcel Corporation reported second quarter 2022 results including net sales of $393 million and adjusted diluted EPS of $0.33 per share. The company's performance was driven by the ongoing recovery in air travel, strength in Space and Defense, and success in Industrial markets.

  • Q2 2022 GAAP diluted EPS was $0.53 and adjusted diluted EPS was $0.33, compared to Q2 2021 GAAP diluted EPS of $0.03 and adjusted diluted EPS of $0.08.
  • Q2 2022 Sales were $393 million, compared to $320 million in Q2 2021.
  • Commercial Aerospace sales increased 48.1% for the second quarter of 2022 compared to the second quarter of 2021, led by growth in the A350, A320neo and 737 MAX programs.
  • Full year 2022 guidance was reaffirmed.

Headline financials

Total Revenue

$393M

Previous: $320M+22.7%
EPS (adj)

$0.33

Previous: $0.08+312.5%
Gross Margin

22.8%

No prior period
Adj. Op. Inc. % of Sales

11.4%

No prior period
Capital Expenditures

-$37.9M

Previous: -$9.2M-312.0%
Free Cash Flow

$24.6M

Previous: -$21M+217.1%
Net Income

$62.5M

Previous: -$11.8M+629.7%
Operating Income

$63.8M

Previous: $16.2M+293.8%
Gross Profit

$89.5M

Previous: $61.9M+44.6%
Cash & Equivalents

$99.2M

Previous: $115M-14.0%
Total Assets

$2.82B

Previous: $2.92B-3.4%

Revenue & EPS history

Hexcel · Revenue · Quarterly

$393M

Q2 2022+22.7%vs Q2 2021
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Hexcel · $393M total across 2 segments · Q2 2022

  • Composite Materials
    $318M+32.0%
  • Engineered Products
    $74.9M-5.7%

Forward guidance

Hexcel reaffirmed its full year 2022 guidance.

Tailwinds

  • Sales of $1.50 billion to $1.63 billion
  • Adjusted diluted earnings per share of $1.00 to $1.24
  • Free cash flow greater than $145 million
  • Accrual basis capital expenditures of approximately $75 million
  • Underlying effective tax rate is estimated to be 23%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+0.1%

Avg return

Earnings day

-0.5%

Avg return

5 days after

+3.6%

Avg return

30 days after

55%

38 / 69 earnings

Positive

+11.1%

Q3 2025

Best reaction

-11.6%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.6%+6.8%-1.1%
Q4 2025+5.5%+3.4%+15.5%
Q3 2025+11.1%+13.9%+13.8%
Q2 2025-1.2%-2.8%-0.8%
Q1 2025-4.3%-0.4%+3.1%
Q4 2024+3.2%-2.4%-8.5%
Q3 2024+2.7%-0.3%-6.6%
Q2 2024-7.6%-5.4%-7.9%
Q1 2024+3.0%+4.0%+15.5%
Q4 2023-8.9%-7.3%+2.4%
Q3 2023-7.6%-8.1%+3.7%
Q2 2023-6.3%-7.0%-4.3%
Q1 2023+6.2%+5.7%+3.9%
Q4 2022+9.0%+10.7%+16.5%
Q3 2022-2.8%-2.4%+6.0%
Q2 2022+1.4%+6.0%+7.0%
Q1 2022+1.2%-2.2%-0.8%
Q4 2021-6.2%-0.8%+8.4%
Q3 2021-4.4%-5.6%+1.3%
Q2 2021+1.8%-5.7%-1.0%
Q1 2021-0.2%-0.3%-9.8%
Q4 2020-6.9%-9.7%+17.7%
Q3 2020-4.0%-0.1%+41.0%
Q2 2020-9.0%-18.3%-13.8%
Q1 2020-11.6%-12.5%-5.0%
Q4 2019+0.6%+0.0%-6.4%
Q3 2019-0.8%-3.2%+4.4%
Q2 2019+4.4%+4.0%+2.0%
Q1 2019+0.3%+4.1%+7.4%
Q4 2018+7.4%+6.6%+16.5%
Q3 2018-4.0%-7.3%-5.8%
Q2 2018-2.4%-0.6%-1.4%
Q1 2018+3.5%+2.2%+9.1%
Q4 2017+2.1%+4.8%+3.7%
Q3 2017+4.9%+7.4%+1.0%
Q2 2017-4.6%-5.2%-3.5%
Q1 2017-2.3%-1.5%-5.1%
Q4 2016-0.3%-1.0%+6.4%
Q3 2016+3.6%+4.7%+14.1%
Q2 2016+6.5%+4.4%+7.3%
Q1 2016+0.7%
Q4 2015+8.2%
Q3 2015-7.6%
Q2 2015-1.4%
Q1 2015+0.2%
Q4 2014+4.8%
Q3 2014+1.6%
Q2 2014-3.0%
Q1 2014-3.3%
Q4 2013-7.8%
Q3 2013+1.3%
Q2 2013+3.6%
Q1 2013+9.1%
Q4 2012+0.3%
Q3 2012-1.2%
Q2 2012-7.2%
Q1 2012+5.1%
Q4 2008+3.5%
Q4 2011+3.5%
Q3 2011-1.3%
Q2 2011+0.4%
Q1 2010+8.1%
Q1 2011+1.9%
Q4 2010+2.4%
Q3 2009-2.3%
Q3 2010-2.3%
Q2 2010+4.1%
Q4 2009+4.1%
Q2 2009+4.1%

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