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22 October, 2021 - 18:48 By Tony Quested

Hexcel Q3 sales near $334 million

Hexcel Corporation, which has a European research hub in Cambridgeshire, has reported third quarter 2021 results including net sales of $334 million and adjusted diluted EPS of $0.13 per share.

Chairman, CEO and President Nick Stanage said: “We are pleased to report another quarter demonstrating steady and continued growth in sales and earnings which we are confident will extend for many quarters to come. 

“Sales of $334m are another positive step-up sequentially and year over year with supply chain destocking now largely behind us. 

“Adjusted EPS of 13 cents in the quarter reflects our ongoing commitment to deliver productivity improvements through Operational Excellence, our relentless focus on controlling costs following the decisive cost alignment actions taken early in the pandemic and a positive sales mix. We are well positioned and ready to support increasing aircraft build rates in the months and years ahead.

“We are closely monitoring our supply chain and have our global supply chain team focused on managing the continued availability of raw materials through these challenging times. 

“Thanks to our long-term supply contracts and commodity hedging, we did not experience any noticeable cost inflation during the third quarter, yet we remain vigilant. Our balance sheet remains strong as we continue to de-leverage. 

“As a team, we are excited about the aerospace recovery as we prepare for a significant step-up in demand in 2022 and continued growth ahead, supported by the secular adoption of composite lightweighting and Hexcel’s broad and expanding product portfolio, and deep customer relationships.”

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