Hexcel Corp. (NYSE: HXL), Stamford, CT, reported sales for the first quarter of $461.7 million, an increase of 10.9 percent compared to the same period a year ago. Profit increased 14.9 percent to $50.1 million.
Commercial aerospace sales of $303.2 million increased 12.8 percent for the quarter as compared to the first quarter of 2013. Combined revenues attributed to new aircraft programs (A380, A350, B787, B747-8) increased over 25 percent versus the same period last year. Sales for Airbus and Boeing legacy aircraft were up 4 percent compared to the first quarter of 2013.
Space & defense sales of $95.6 million were slightly lower than the first quarter of 2013 and 8 percent higher than the fourth quarter of 2013.
Total industrial sales of $62.9 million for the first quarter were 21.9 percent higher than the first quarter of 2013. There was a general increase in industrial market, led by wind sales (up 15 percent).