Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Hexcel Faces Decline in Shares as Industrial Sales Drop


Shares of Hexcel, the provider of advanced lightweight composites technology, experienced a decline following an unexpected loss in the fourth quarter. At 11:19 a.m. ET, shares were down 6.9% to $66.74. Despite this recent setback, the stock has seen an overall increase of 24% in the past three months and 64% over the past 12 months.

Disappointing Fourth Quarter Results

Hexcel reported a net loss of $18.2 million, or 21 cents per share, for the latest quarter, compared to a profit of $37 million, or 43 cents per share, during the same period the previous year. Analysts polled by FactSet had predicted earnings per share of 50 cents. When accounting for one-time items, the company’s earnings per share amounted to 43 cents, falling short of FactSet’s projected 54 cents.

Decline in Industrial Sales

One of the contributing factors to Hexcel’s loss was a drop in industrial sales. Sales, however, did increase by 6.5% to $457.5 million. This figure fell below the analysts’ estimate of $474 million.

Increased Payout to Shareholders

In an effort to mitigate the impact of their disappointing quarterly results, Hexcel announced an increase in their shareholder payout. The payout has been raised from 12.5 cents to 15 cents per share. Annually, this represents a yield of 0.8% based on the company’s latest closing price of $71.65.

American Airlines Reports Strong Q4 Earnings and Outlook for 2024

Previous article

U.K. Stocks Buckle Up for a Steady Rise

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News