Hexcel Corporation has reported an increase of 12.8% in Q1 sales to US$540.1 million. Commercial Aerospace sales of US$382.7 million increased 10.2% (9.4% in constant currency) for Q1 of 2018 as compared to the prior year period while Space & Defense sales increased 17.5% (13.6% in constant currency) to of US$90.1 million.
Total Industrial sales of US$67.3 million for Q1 of 2018 increased 22.6% (10.3% in constant currency) when compared to Q1 of 2017, and wind energy sales (the largest sub-market in Industrial) improved 10.6%.
‘2018 is off to a solid start, with Hexcel generating record sales with growth across all of our markets, as well as increasing adjusted diluted earnings per share by over 13% year-over-year,’ said Nick Stanage, CEO. We also generated positive free cash flow during the quarter – the first time in recent history we have done so in the first three months of the year, further underscoring Hexcel’s transition to a cash generation cycle.
This story uses material from Hexcel, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.