Commercial aerospace sales drive Hexcel Q2 revenue
July 22, 2016 - United States Of America
Driven by commercial aerospace sales, revenue for the second quarter ended June 30, 2016 at composites maker Hexcel rose to $522.6 million, up 9.9 per cent year on year and 10.2 per cent in constant currency.
According to the company, commercial aerospace sales, which account for 70 per cent of total sales, were 14.3 per cent higher in constant currency over the second quarter of 2015.
However, in the reporting quarter, space and defense sales were 7.6 per cent year over year lower in constant currency, while industrial sales were 14.4 per cent higher in constant currency.
For the three months to June 30, 2016, operating income stood at $100.1 million or 19.2 per cent of sales as against $90.6 million or 19.0 per cent of sales in the same quarter of 2015.
Gross margin for the quarter under review reached 28.8 per cent, compared to 29.2 per cent in the corresponding quarter of the previous year.
The composites maker recorded diluted earnings per share of $0.70, up 11.1 per cent than the prior years’ second quarter in which it stood at $0.63.
Hexcel increased the mid-point of full year 2016 EPS guidance as per which, it now projects adjusted diluted EPS to be between $2.48 and $2.56 as against the previous guidance of $2.44 and $2.56. (AR)
According to the company, commercial aerospace sales, which account for 70 per cent of total sales, were 14.3 per cent higher in constant currency over the second quarter of 2015.
However, in the reporting quarter, space and defense sales were 7.6 per cent year over year lower in constant currency, while industrial sales were 14.4 per cent higher in constant currency.
For the three months to June 30, 2016, operating income stood at $100.1 million or 19.2 per cent of sales as against $90.6 million or 19.0 per cent of sales in the same quarter of 2015.
Gross margin for the quarter under review reached 28.8 per cent, compared to 29.2 per cent in the corresponding quarter of the previous year.
The composites maker recorded diluted earnings per share of $0.70, up 11.1 per cent than the prior years’ second quarter in which it stood at $0.63.
Hexcel increased the mid-point of full year 2016 EPS guidance as per which, it now projects adjusted diluted EPS to be between $2.48 and $2.56 as against the previous guidance of $2.44 and $2.56. (AR)