The following is a summary of the Hexcel Corporation (HXL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Hexcel reported Q1 sales of over $472 million, showing a 3% increase from Q1 2023.

• Adjusted diluted EPS for the quarter was $0.44, down year-over-year yet up sequentially.

• Gross margin and adjusted operating income increased since mid-last year.

• Q1 commercial aerospace sales were almost $300 million, largely due to increasing wide-body sales.

• Space and defense sales rose to $139 million, a 10% rise in constant currency compared to Q1 2023.

• Industrial sales went down by over 28% year-over-year to $34 million.

• The company repurchased $101 million of stock and paid a $0.15 per share quarterly dividend.

Business Progress:

• Hexcel saw sales growth in the commercial aerospace and space and defense sector, supported by increased demand.

• The company managed to improve narrow-body supply chain, despite certain challenges.

• Hexcel launched HexTow IM9-24K carbon fiber, an innovative product designed for aerospace structures.

• The company has extensive growth plan, backed by aircraft backlogs and the value proposition of their composite light-weight materials.

• Hexcel's CEO, Nick Stanage, announced his retirement and Tom Gentile was appointed as the new CEO.

• The company is aligning its supply capacity to meet Boeing's demand, showing a robust operational capability.

• Hexcel is aiming to reach a revenue goal of $2.35-2.4 billion with reduced total headcount compared to 2019.

More details: Hexcel IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.