Third-Quarter Sales for Hexcel Up 5.3% - Modern Distribution Management

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Third-Quarter Sales for Hexcel Up 5.3%

Commercial aerospace and space & defense sales increased while industrial sales declined.

Hexcel Corp. (NYSE: HXL), Stamford, CT, reported sales for the third quarter of $412.3 million, an increase of 5.3 percent compared to the same period a year ago. Profit increased 22 percent to $48.7 million.

Commercial aerospace sales of $262 million increased 11.9 percent for the quarter as compared to the third 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. Sales for Airbus and Boeing legacy aircraft were up 5 percent compared to the third quarter of 2012.

Space & defense sales of $94.4 million were 4.2 percent higher than the third quarter of 2012. Hexcel continues to benefit from participating in a wide range of programs, with rotorcraft sales comprising about 60 percent of space & defense sales for the quarter.

Total industrial sales of $55.9 million for the third quarter were 16.4 percent lower than the third quarter of 2012, and just above the second quarter of 2013. Wind sales were down about 25 percent in constant currency from the third quarter of 2012.

For the first nine months, total sales for Hexcel were $1.3 billion, an increase of 5.1 percent compared to the same period a year ago. Profit jumped 10.5 percent to $140.8 million.

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