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Hexcel expects 2017 to be record year for sales & earnings

15 Dec '16

1 min read

In its guidance for 2017, composites parts maker Hexcel expects another record year of sales and earnings, strong operating income margin, and generation of free cash flow. The company expects revenue to be in the range of $2.05 billion to $2.15 billion with the aerospace business leading the way, and diluted earnings per share to be between $2.64 and $2.76.

Capital expenditures for 2017 are expected to be in the range of $270 to $290 million, while expecting a $16 million increase in depreciation expense, reflecting a recent capacity expansion to support future growth.

The company expects an approximate $30 million increase in cash taxes due to higher income and projects free cash flow to be greater than $100 million for the year, with the typical seasonal use of cash in the first quarter of the year.

Through 2020, Hexcel expects average annual growth rates of 6-9 per cent for the company, which includes between 6-10 per cent annual average growth rates in commercial aerospace. (AR)

Fibre2Fashion News Desk – India

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