Hexcel reports sales decrease in Q2 2021

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Hexcel Corporation has reported Q2 sales of US$320.3 million, compared to $378.7 million in the Q2 2020.

Commercial Aerospace sales of US$153.7 million decreased 24.6% for the same period, while sales to other commercial aerospace, which include regional and business aircraft, fell by 26.6% for Q2 2021 compared to Q2 2020.

Space & Defense sales were US$106.9 million, a decrease of 1.4%, while total Industrial sales of US$59.7 million in Q2 were down 10.1%.

Wind energy sales experienced a decline of 43.9% in constant currency.

The gross margin for Q2 2021 was 19.3% compared to 14.5% in the prior year period reflecting a step up in carbon fiber production and sales, Hexcel said. Adjusted operating income was US$19.3 million, or 6% of sales, compared to US$19.5 million, or 5.1% of sales in 2020.

‘Sales in the second quarter were in line with our expectations, and we delivered solid margin performance supported by favorable mix from higher fiber sales,’ said CEO Nick Stanage. ‘We are encouraged that airlines are placing new orders with the commercial aerospace OEMs, leading once again to a growing aircraft backlog as passenger numbers continue to increase steadily around the world. Our team is prepared and focused on ramping up production levels to meet growing customer demand, particularly as aircraft operators seek more aerodynamic, lightweight aircraft that improve fuel efficiency and reduce emissions. I am excited about the path ahead with significant Hexcel sales growth expected in 2022, 2023 and beyond.’

Hexcel said that it continues to withhold financial guidance due to ‘continuing market uncertainties’ arising from the Covid-19 pandemic.

This story uses material from Hexcel, with editorial changes made by Materials Today.