Hexcel Reports 1.8% Sales Drop in 3Q17


Hexcel Corp., Stamford, Conn., (NYSE:HXL) reported third-quarter 2017 sales of $491.5 million, down 1.8 percent from the third quarter 2016. Profit was $68.7 million.

Total industrial sales of $56.2 million for the third quarter were down 3.8 percent. Hexcel reported that wind-energy sales (the largest submarket in industrial) experienced a “challenging transition year,” down 25 percent for the quarter.         

Commercial Aerospace sales of $352.6 million were 2.2 percent lower for the quarter, representing a decline in certain legacy wide body aircraft, which offset the growth of the A350 and new narrow body aircraft.

Space and Defense sales were $82.7 million, up 1.5 percent.

Year-to-date, sales were $1.4 billion, down 3.5 percent, with Commercial Aerospace down 2.7 percent, Space and Defense up 2.6 percent, and Industrial down 15.4 percent, reflecting a 30 percent decline in wind-energy sales. Profit year-to-date was $195.7 million.

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