STAMFORD, Conn. (AP) _ Hexcel Corp. (HXL) on Monday reported a second-quarter loss of $1 million, after reporting a profit in the same period a year earlier.
The Stamford, Connecticut-based company said it had a loss of 1 cent per share. Earnings, adjusted for restructuring costs, were 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The maker of lightweight composite materials posted revenue of $378.7 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $343.6 million.
Hexcel shares have fallen 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $44.65, a fall of 46% in the last 12 months.