Hexcel Raises Mid-point Of 2016 Adj. EPS Guidance

(RTTNews) - Hexcel Corp. (HXL) revised its full year adjusted earnings per share to a range of $2.52-$2.58 compared to previous guidance of $2.48-$2.56. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.54. Analysts' estimates typically exclude special items. The company expects to be at the higher end of guidance for both free cash flow of $20-$60 million, and accrual basis capital expenditures of $280-$320 million.

Hexcel revised its full year sales outlook to $2.00-$2.03 billion compared to previous outlook of $1.99-$2.05 billion. Analysts expect revenue of $2.02 billion for the fiscal year.

Chairman, CEO and President Nick Stanage, said: "We expect 2016 to be another record year. We do not expect our fourth quarter to be quite as strong as the third quarter. Our focus remains on superior execution to prepare for the substantial production ramp up of new programs, led by Commercial Aerospace. We continue to be well aligned with our customers' needs and are fully prepared to meet the increasing demands for innovative composite products and solutions to support their growth."