Thu, Jul 18, 11:32 AM (51 days ago)
Hexcel Corporation's Q2 2024 financial report shows a 10.1% increase in net sales to $500.4 million compared to Q2 2023. Operating income rose 17.1% to $71.8 million, driven by higher Commercial Aerospace sales, which increased 21.3%. Gross margin improved to 25.3%, up from 24.4% in Q2 2023, due to favorable cost leverage from higher sales. However, SG&A expenses increased by 11.8%, primarily due to higher employee-related costs. Net income for Q2 2024 was $50 million, up 17.6% from Q2 2023. Cash flow from operations was $37.2 million, with significant cash outflows for stock repurchases totaling $201.8 million. The company remains confident in its liquidity, with $75.4 million in cash and $655 million available under its credit facility.