U.S. Markets open in 7 hrs 16 mins

Hexcel misses 1Q profit forecasts

STAMFORD, Conn. (AP) _ Hexcel Corp. (HXL) on Wednesday reported first-quarter earnings of $64.6 million.

On a per-share basis, the Stamford, Connecticut-based company said it had profit of 70 cents. Earnings, adjusted for pretax gains, were 60 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The maker of lightweight composite materials posted revenue of $478.8 million in the period.

Hexcel expects full-year earnings in the range of $2.64 to $2.76 per share, with revenue in the range of $2 billion to $2.08 billion.

Hexcel shares have climbed nearly 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52.79, an increase of 17 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HXL at https://www.zacks.com/ap/HXL


Keywords: Hexcel, Earnings Report