Hexcel Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 26, 2023 at 03:01 am IST
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Hexcel Corporation reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 429.4 million compared to USD 360.3 million a year ago. Net income was USD 37 million compared to USD 18.9 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.43 compared to USD 0.22 a year ago.
For the full year, sales was USD 1,577.7 million compared to USD 1,324.7 million a year ago. Net income was USD 126.3 million compared to USD 16.1 million a year ago. Basic earnings per share from continuing operations was USD 1.5 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 1.49 compared to USD 0.19 a year ago.
Hexcel Corporation is engaged in providing advanced lightweight composites technology. The Company's product range includes carbon fiber, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, resins, engineered core and composite structures for use in commercial aerospace, space and defense, and industrial applications. The Company operates through two segments: Composite Materials and Engineered Products. The Composite Materials segment comprises its carbon fiber, specialty reinforcements, resin systems, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles. The Engineered Products segment consists of lightweight high strength composite structures, radio frequency/electromagnetic interference (RF/EMI) and microwave absorbing materials, engineered core and specialty machined honeycomb products with added functionality and thermoplastic additive manufacturing.