Shares of Hexcel Corporation (HXL) soared over 5% on Monday after the company reported better-than-expected third quarter earnings, driven by robust sales growth in its key Commercial Aerospace segment.
The aerospace and industrial materials company posted adjusted earnings of $0.47 per share for the quarter ended September 30th, surpassing analysts' consensus estimate of $0.46. Revenue rose 8.8% year-over-year to $456.5 million, narrowly beating expectations of $456.2 million.
The strong quarterly performance was fueled by a 17.5% increase in Commercial Aerospace sales to $295.9 million. Hexcel cited higher sales from major programs like the Airbus A350, A320neo, and Boeing 787 as key drivers. This offset slight declines in the company's Space & Defense and Industrial segments.
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