Hexcel Corporation, a US-based leader in advanced composites technology, has reported a 16.3 per cent sales growth to $333.8 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the same period of previous fiscal. Operating income for the three-month period rose to $22.8 million over the loss of $37.6 million in Q3 FY20.
Hexcel Corporation, a US-based leader in advanced composites technology, has reported a 16.3 per cent sales growth to $333.8 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the same period of previous fiscal. Operating income for the three-month period rose to $22.8 million over the loss of $37.6 million in Q3 FY20.#
“We are pleased to report another quarter demonstrating steady and continued growth in sales and earnings which we are confident will extend for many quarters to come. Sales of $334 million are another positive step-up sequentially and year over year with supply chain destocking now largely behind us,” Nick Stanage, chairman, CEO and president at Hexcel, said in a press release.
Hexcel Corporation, a US-based leader in advanced composites technology, has reported a 16.3 per cent sales growth to $333.8 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the same period of previous fiscal. Operating income for the three-month period rose to $22.8 million over the loss of $37.6 million in Q3 FY20.#
Commercial aerospace sales increased by 29.8 per cent to $167.2 million ($128.8 million) during Q3. While, with automotive and recreation markets improving, industrial sales went up 14.0 per cent to $56.2 million ($49.3 million).
Hexcel Corporation, a US-based leader in advanced composites technology, has reported a 16.3 per cent sales growth to $333.8 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the same period of previous fiscal. Operating income for the three-month period rose to $22.8 million over the loss of $37.6 million in Q3 FY20.#
Gross margin escalated to $66.0 million ($13.5 million), while selling, general and administrative expenses was $32.0 million ($24.6 million). However, net income during the third quarter slipped to $9.0 million ($9.7 million).
Hexcel Corporation, a US-based leader in advanced composites technology, has reported a 16.3 per cent sales growth to $333.8 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the same period of previous fiscal. Operating income for the three-month period rose to $22.8 million over the loss of $37.6 million in Q3 FY20.#
“We are closely monitoring our supply chain and have our global supply chain team focused on managing the continued availability of raw materials through these challenging times,” Stanage added. “As a team, we are excited about the aerospace recovery as we prepare for a significant step-up in demand in 2022 and continued growth ahead, supported by the secular adoption of composite lightweighting and Hexcel’s broad and expanding product portfolio, and deep customer relationships.”
Fibre2Fashion News Desk (JL)
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