Revenue Growth and Strong Cash Flow
Hexcel achieved a full-year sales of $1.903 billion, marking a 6.4% increase over 2023. The company generated a free cash flow of $202.9 million, showcasing robust financial health.
Commercial Aerospace and Space & Defense Growth
Commercial aerospace sales increased 11.9% for the year, with strong performers like the 787, A350, and A320neo. Space & Defense sales also grew by 4.6% for the full year, driven by programs such as F-35 and CH-53K.
Improved Margins
Hexcel reported an adjusted operating margin of 12.1% for the fourth quarter, up from 10.7% in the prior year, aided by higher sales and operational execution.
Strategic Divestitures
The company announced plans to divest its Neumarkt, Austria site and Hartford, Connecticut 3D printing business to focus on more strategic, value-add applications.