Hexcel Corporation (NYSE:HXL) Q4 2023 Earnings Conference Call January 25, 2024 10:00 AM ET Company Participants Patrick Winterlich - Chief Financial Officer Nick Stanage - Chairman, President & Chief Executive Officer Kurt Goddard - Vice President-Investor Relations Conference Call Participants Michael Ciarmoli - Truist Securities David Strauss - Barclays Bert Subin - Stifel Ken Herbert - RBC Capital Markets Pete Skibitski - Alembic Global Advisors Robert Spingarn - Melius Research Gavin Parsons - UBS Noah ...

Hexcel Corporation (NYSE:HXL) Q3 2023 Earnings Conference Call October 24, 2023 10:00 AM ET Company Participants Patrick Winterlich - CFO Nick Stanage - Chairman, President and CEO Conference Call Participants Matt Akers - Wells Fargo Ken Herbert - RBC Capital Markets Myles Walton - Wolfe Research Gavin Parsons - UBS Pete Skibitski - Alembic Global Kristine Liwag - Morgan Stanley John McNulty - BMO Capital Markets Scott Deuschle - Deutsche Bank Gautam Khanna - TD Cowen Sheila Kahyaoglu - Jefferies Michael C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-8472 Hexcel Corporation (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organizat ...

Financial Data and Key Metrics - Composite Materials segment represented 83% of total sales with an operating margin of 16.2%, up from 14% in the prior year period [2] - Commercial Aerospace sales increased 15.4% to $264.3 million, driven by growth in Airbus A350 and Boeing 787 programs [188] - Space & Defense sales increased 22.1% to $137.5 million, marking the highest quarterly sales ever for this segment [79] - Industrial sales decreased 3.3% to $52.5 million due to lower wind energy sales, partially offset by growth in automotive and other industrial markets [61] - Adjusted operating income was $61.8 million, or 13.6% of sales, compared to $44.7 million, or 11.4% of sales, in the prior year period [62] - Free cash flow for the first half of 2023 was negative $44.7 million, including $37.8 million for the Amesbury property acquisition [11][82] Business Line Performance - Composite Materials segment saw strong demand for Hexcel fiber-rich products, contributing to higher margins [2][96] - Engineered Products segment generated an 8.9% operating margin, softer than usual due to higher development and tooling costs related to space programs [81] - Industrial segment faced headwinds from lower wind energy sales but saw growth in automotive and marine markets [61][128] Market Performance - Commercial Aerospace growth was driven by Airbus A350, Boeing 787, and business jet demand [188] - Space & Defense achieved record sales, supported by programs like F-35, Rafale, and Black Hawk [79][130] - Industrial markets showed mixed performance, with automotive and marine growth offsetting declines in wind energy [61][128] Strategy and Industry Competition - The company is focused on expanding its composite materials portfolio to support next-generation fuel-efficient aircraft and reduce emissions [58][84] - Hexcel is well-positioned to capitalize on the growing demand for lightweight composites in aerospace and defense [58][68] - The acquisition of the Amesbury property provides control and flexibility for future growth and expansion [1][109] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growing demand and navigate supply chain challenges [56][68] - The company is optimistic about the recovery of air travel and the strong backlog of commercial aircraft orders [50][57] - Hexcel is committed to driving efficiency, productivity, and cash management to deliver value to shareholders [12] Other Important Information - The company updated its 2023 guidance, raising sales expectations to $1.765 billion to $1.835 billion and EPS to $1.80 to $1.94 [83] - Hexcel sold its former wind energy facility in Colorado for $11 million, which will be accounted for in Q3 2023 [11] - The company renewed its $750 million revolving credit facility, with a focus on maintaining a target leverage range of 1.5 to 2 times [64] Q&A Session Summary Question: Impact of 737 MAX and A220 rate changes - The company noted strong product mix in Q1, particularly with Hexcel carbon fiber-rich products, driving strong margins [7][96] Question: Free cash flow outlook and facility acquisition - The Amesbury property acquisition was the primary driver of the change in cash flow outlook, with no significant other moving pieces [121] Question: Hexcel's opportunity on Airbus's Wing of Tomorrow project - Hexcel is actively involved in the Wing of Tomorrow project, leveraging its diverse portfolio to optimize wing design [22][125] Question: Wind energy business outlook - The wind energy business has stabilized and is expected to remain solid, driven by legacy products in Europe [23] Question: Capital allocation and share buybacks - The company plans to resume share buybacks in the coming periods, prioritizing organic growth and disciplined M&A [40] Question: Airbus A220-500 potential and CapEx requirements - Hexcel sees significant potential in the A220-500, with opportunities for IM fiber and minimal additional CapEx requirements [27][120] Question: Supply chain alignment with Boeing and Airbus - The company is closely aligned with Boeing and Airbus on production rates and supply chain dynamics [93][151] Question: Margin progression and incremental leverage - Management expects margins to improve as volumes increase, targeting mid-teens margins on $1.8 billion to $1.9 billion in revenue [150][98] Question: Technology and material advancements for future programs - Hexcel is working on multiple material types and technologies to support future aerospace programs, including the Wing of Tomorrow [22][125][176] Question: Defense revenue growth and platform outlook - Space & Defense revenue is expected to grow, with strong performance from programs like F-35 and Rafale [79][130]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to For the Quarterly Period Ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 1-8472 Hexcel Corporation (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) ...

Hexcel Corporation (NYSE:HXL) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET Company Participants Patrick Winterlich - CFO Nick Stanage - Chairman, President and CEO Conference Call Participants John McNulty - BMO Capital Markets Robert Spingarn - Melius Research Ken Herbert - RBC Myles Walton - Wolfe Research Kristine Liwag - Morgan Stanley Pete Skibitski - Alembic Global Sheila Kahyaoglu - Jefferies Richard Safran - Seaport Research Michael Ciarmoli - Truist Securities David Strauss - Barclay ...

7 ©2023 Hexcel. All rights reserved. Our products are tougher, stiffer and more durable No products made today will lead to greater fuel efficiency and improved aerodynamics with as much strength and durability as Hexcel carbon fiber, prepreg, honeycomb and engineered products. 9 ©2023 Hexcel. All rights reserved. 30% reduction in waste to landfill 59% Mid-Term: Expanding composites secular penetration Business Jet composite adoption increasing 12 ©2023 Hexcel. All rights reserved. High fuel costs and need ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-8472 Hexcel Corporation (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K For the Fiscal Year Ended December 31, 2022 or ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-8472 Hexcel Corporation (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (I ...

Hexcel Corporation (NYSE:HXL) Q4 2022 Earnings Conference Call January 26, 2023 10:00 AM ET Company Participants Patrick Winterlich - Chief Financial Officer Nick Stanage - Chairman, President and CEO Kurt Goddard - Vice President, Investor Relations Conference Call Participants David Strauss - Barclays Pete Skibitski - Alembic Global Ron Epstein - Bank of America Myles Walton - Wolfe Research Robert Spingarn - Melius Research Kristine Liwag - Morgan Stanley Gautam Khanna - Cowen Mike Sison - Wells Fargo Mi ...