Sign up USA
Proactive Investors - Run By Investors For Investors

Hexcel Q4 profit tops Street view; shares climb

RBC Capital Markets describes the results as “a steady quarter from Hexcel.”
Hexcel Q4 profit tops Street view; shares climb
Hexcel shares had declined 17% percent since the beginning of the year through the close of trading on Thursday.

Hexcel (NYSE:HXL) rose on Friday after the maker of lightweight composite materials reported a fourth-quarter profit that beat market expectations.

Shares increased 11.3% to $42.84 at 2:08 p.m. in New York. 

Net income rose to $53.9mln, or $0.56 per diluted share, in the three months ended December 31, from $52.9mln, or $0.54 per diluted share, in the year-earlier period, the Stamford, Connecticut-based company said in a statement late Thursday.

The average estimate of seven analysts surveyed by Capital IQ was for earnings of $0.54 per share.

Fourth-quarter revenue fell to $464.9mln from $471.8mln year-over-year.

Hexcel shares had declined 17% percent since the beginning of the year through the close of trading on Thursday.

RBC Capital Markets described the results as “a steady quarter from Hexcel, with the potential hiccup of issuing initial 2016 guidance being avoided.

“We think investors will generally be relieved, given the recent fragility of aerospace sentiment and the related performance of the stock – we now have the company projecting a healthy pick up in free cash flow for 2016… and Hexcel has stuck with its 2020 targets,” it said.

View full PROAC profile

Proactiveinvestors Timeline

Related Articles

shutterstock_152199281.jpg
May 16 2016
Health marketing group has increased its dividend every year since 2006
shutterstock_210978052.jpg
July 20 2016
Expansion is going well stateside and it looks like down under is the next region to fall under dotDigital's spell
big-data.jpg
March 30 2016
Underlying pre-tax profit increased almost 65% to £11.2mln on revenues of £76.6mln, up 7.9%
Copyright © Proactiveinvestors.com, 2016. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC