Hexcel Corporation has reported a sales increase of almost 13% for Q1 2019.
Sales for the first quarter of 2019 were US$609.9 million, an increase of 12.9% compared to the first quarter of 2018. Commercial Aerospace sales of US$415.5 million increased 8.6% for Q1 2019 as compared to the prior year period, while Space and Defense sales of US$107.8 million increased 19.6%. Total Industrial sales of US$86.6 million for the first quarter of 2019 increased 28.7%, while wind energy sales, the largest sub-market in Industrial, increased 78%.
‘Hexcel generated its highest ever quarterly sales with growth across all of our markets, and our diluted earnings per share increased by over 23% compared to Q1 2018,’ said Nick Stanage, CEO. ‘With strong sales growth and most of the headwinds that challenged us in 2018 now behind us, margins have stepped up year over year as we forecasted. Reflecting robust revenue growth in the period there was a US$15 million use of cash in the first quarter related to working capital, in line with expectations. The integration of our latest acquisition, ARC Technologies, continues on track with strong first quarter performance.’
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.
