Hexcel Corp. (NYSE: HXL), Stamford, CT, reported sales for the second quarter of $422.6 million, an increase of 5.9 percent compared to the same period a year ago. Profit increased 1 percent to $48.5 million.
Commercial aerospace sales of $270 million increased 15.6 percent (15.1 percent in constant currency) for the quarter, compared to the second quarter of 2012. Combined revenues attributed to new aircraft programs (A380, A350, B787, B747-8) increased over 20 percent versus the same period last year and comprise over 30 percent of commercial aerospace sales.
Sales for Airbus and Boeing legacy aircraft were up over 10 percent compared to the second quarter of 2012, and were just lower than the first quarter of 2013.
Sales to “other commercial aerospace,” which include regional and business aircraft customers, were down about 5 percent compared to the same period last year.
Space & defense sales of $96.7 million were 9.8 percent higher (9.3 percent in constant currency) than the second quarter of 2012. Growth was again led by rotorcraft, which accounted for nearly 60 percent of segment sales.
Industrial sales of $55.9 million were 28 percent lower (28.8 percent in constant currency) than the second quarter of 2012, but up sequentially versus the first quarter of 2013. As expected, wind sales were down over 35 percent from the record level in the second quarter of 2012.
For the first six months, sales for Hexcel were $839.1 million, an increase of 5 percent compared to the same period in 2012. Profit increased 5.1 percent to $92.1 million.
