Hexcel Corp. (NYSE: HXL), Stamford, CT, reported sales for the first quarter of $416.5 million, an increase of 4.1 percent compared to the same period a year earlier. Profit increased 10.1 percent to $43.6 million.
Commercial Aerospace sales of $268.9 million increased 11 percent (10.8 percent in constant currency) for the quarter compared to the first quarter of 2012. Sales attributed to new aircraft programs (A380, A350, B787, B747-8) increased nearly 20 percent versus the same period last year. Airbus and Boeing legacy aircraft related sales for the quarter were up over 10 percent compared to 2012.
Space & Defense sales of $96 million were 13.1 percent higher (12.9 percent in constant currency) than the first quarter of 2012. Growth came from both rotorcraft and military fixed wing aircraft programs.
Industrial sales of $51.6 million for the first quarter of 2013 were weak across the board at 29.2 percent lower (29.5 percent in constant currency) than the first quarter of 2012. As expected, wind sales were down over 30 percent from the record levels in the first half of 2012 and about 9 percent lower than the fourth quarter of 2012.
