Hexcel Profit Tops Estimates; Lifts FY Earnings Guidance, Trims Sales Range

(RTTNews) - Hexcel Corp (HXL), a maker of structural materials for aerospace and other markets, on Monday reported first-quarter net earnings of $68.1 million or $0.70 per share compared with $50.1 million or $0.50 per share last year.

Excluding items, adjusted earnings for the quarter were $0.58 per share.

Revenues for the quarter were up at $471.8 million compared with $461.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.56 per share on revenues of $486.4 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter rose to 30.1% from 28% last year, and operating margin improved to 17.5% from 16.2% a year ago, propping up the results, the company said.

For the full year 2015, the company now expects adjusted earnings of $2.33 to $2.43 per share on revenues of $1.86 billion to $1.94 billion. Earlier it expected earnings of $2.26 to $2.38 per share on revenues of $1.9 billion to $2.0 billion.

Analysts expect earnings of $2.38 per share on revenues of $1.97 billion for the year.

The company noted that while its adjusted earnings in 2015 are expected to partly benefit from strong operational performance, its sales are anticipated to be hurt by the impact of the strengthening dollar on its Euro and British pound denominated revenue.