Hexcel Corp gains on Q4 profit beat
26/01/2023 15:11
** Shares of aerospace supplier Hexcel Corp HXL.N climb
6.2% to $66
** Set for biggest one-day pct. rise since November 2021 if
gains hold
** Company reports Q4 adj. earnings of 40 cents/shr vs
analysts' est. of 32 cents/shr - Refinitiv
** "We are gaining new business as demand grows for
lightweight composites that support enhanced performance while
improving fuel efficiency and reducing emissions" - Nick
Stanage, chairman, CEO and president at Hexcel
** Company beats EPS estimates for 7 out of 8 quarters
** Forecasts FY23 adj. earnings in the range of $1.7/shr to
$1.9/shr, vs analysts' est. of $1.82/shr
** Shares of Hexcel gained 13.6% in 2022
(Reporting by Shristi Achar A in Bengaluru)
((Shristi.AcharA@thomsonreuters.com))