Financial Data and Key Metrics Changes - Fourth quarter sales reached $360 million, a nearly 22% increase compared to Q4 2020, with adjusted diluted EPS of $0.16 compared to a negative $0.18 last year [15][18] - For the full year 2021, sales totaled $1.325 billion, down 12.6% year-over-year in constant currency, but adjusted diluted EPS improved to $0.27 from $0.25 in 2020 [18][19] - Gross margin for Q4 was 19.2%, up from 10.3% in Q4 2020, driven by higher sales and improved efficiency [37] Business Line Data and Key Metrics Changes - Commercial Aerospace sales in Q4 were $199.7 million, up 58.7% year-over-year, driven by increased sales in narrow-body, wide-body, and business jets [35] - Space & Defense sales were $105.9 million, a decrease of 10.8% from Q4 2020, impacted by softer space sales and lower military rotorcraft sales [35] - Industrial sales totaled $54.7 million, increasing 12.8% year-over-year, with strength in automotive and recreation markets [36] Market Data and Key Metrics Changes - Commercial Aerospace represented approximately 56% of total Q4 sales, while Space & Defense accounted for 29% and Industrial for 15% [35] - For the full year, Commercial Aerospace sales were about $668 million, a decline of about 19% compared to 2020, while Space & Defense sales were approximately $435 million, reflecting a 3% year-over-year decline [20][23] Company Strategy and Development Direction - The company is focused on a steep growth trajectory in 2022, addressing challenges such as supply chain constraints and inflationary pressures [12][13] - Hexcel is transitioning to more advanced composite production technologies, moving less complex work to a joint venture with Boeing, which is expected to enhance margins [22][96] - The company has reinstated a dividend, reflecting confidence in its recovery and growth prospects [32][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong growth in 2022, driven by recovery in air travel and increased demand for lightweight composite materials [12][51] - The company anticipates challenges from inflation and supply chain issues but remains focused on efficiency and productivity to control its destiny [52][53] - Future growth is expected to be supported by strong order activity in Commercial Aerospace and ongoing demand in Space & Defense [21][70] Other Important Information - The company is guiding for 2022 sales between $1.50 billion and $1.63 billion, with adjusted EPS of $1 to $1.24 and free cash flow exceeding $145 million [25][44] - Hexcel is moving away from providing specific platform shipset values for Commercial Aerospace programs, opting instead for shipset ranges to better reflect value propositions [26][28] Q&A Session Summary Question: How should we think about excess capacity and idle assets tied to the widebody side of the business? - Management indicated that idle assets are being methodically brought back online as demand increases, with no new assets needed in the foreseeable future [56][58] Question: Can you update us on your research efforts for high volume out of autoclave parts? - Management confirmed ongoing development of advanced materials that can be cured outside of autoclave, which will penetrate narrowbody markets [63] Question: What is the outlook for Space & Defense sales in 2022? - Management expects about 8% year-over-year growth, driven by programs like the F-35 and CH-53K, despite some softness in legacy programs [68][70] Question: How will free cash flow be utilized moving forward? - Management plans to use free cash flow for dividends, potential M&A opportunities, and possibly stock buybacks once covenants are cleared [72][76] Question: What is the impact of working capital as revenue ramps back up? - Management acknowledged that as sales grow, working capital will increase, but they aim to manage it efficiently [83] Question: How does the transition of work to the joint venture impact EBIT? - The transition involved moving lower-margin work to the joint venture, but management expects to replace it with higher-margin programs at the Kent facility [96][99]

HEXCEL Investor Briefing October 2021 Risks, | --- | --- | |-----------------|-------| | | | | | | | Uncertainties | | | and Other | | | Factors with | | | Respect to | | | Forward-Looking | | | Statements | | | Disclaimer | | Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute "forward-looking statements" and accordingly, involve estima ...

Financial Data and Key Metrics Changes - Overall sales in Q3 2021 were $334 million, an increase from $287 million in Q3 2020, reflecting strong earnings performance as sales recover and margins expand [14][30] - Aerospace sales reached $167 million, representing a nearly 30% increase compared to Q3 2020, driven by stronger narrowbody demand [14][26] - Gross margin for Q3 was 19.8%, significantly up from 4.7% in Q3 2020, benefiting from a strong fiber-rich sales mix and reduced overhead costs [30][34] Business Line Data and Key Metrics Changes - Commercial Aerospace accounted for approximately 50% of Q3 sales, with a 29.8% increase year-over-year [26] - Space & Defense sales totaled $110.4 million, a 1.4% increase from the same period in 2020, with strength in fixed-wing aircraft and commercial helicopters [27] - Industrial sales were $56.2 million, an 11.7% increase compared to Q3 2020, although wind energy sales declined over 31% due to softer demand [28][19] Market Data and Key Metrics Changes - The U.S. is expected to lift its international travel ban in November, which is anticipated to boost demand for air travel and aircraft orders [13] - The company is closely monitoring supply chain constraints and inflationary pressures, particularly in energy and freight costs [10][11] Company Strategy and Development Direction - The company has completed its restructuring and is now focused on leveraging its advanced composite technology to meet increasing demand for lightweight materials [8][48] - Plans for expansion include doubling the size of the engineered core facility in Morocco by early 2023 and establishing a new center for research and technology excellence in Salt Lake City [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a sustained recovery in aerospace, supported by growing OEM backlogs and production rate increases [48] - The company remains cautious about the uncertain market environment and is focused on cost control and cash management [47] Other Important Information - The effective tax rate for Q3 2021 was 38.3%, influenced by the pandemic and the mix of results across different countries [36] - Free cash flow for Q3 2021 was $19.5 million, with year-to-date free cash flow at $49.2 million, despite modest increases in working capital [39] Q&A Session Summary Question: Can you give us a split of raw materials and labor, and what percentage of your raw materials you've hedged? - Management clarified that acrylonitrile is the primary commodity hedged, and they have long-term contracts for key aerospace resins to mitigate cost pressures [56] Question: What are your thoughts on the 2022 revenue consensus? - Management is optimistic about growth in 2022, particularly in narrowbody aircraft, and believes the consensus estimate is reasonable [59] Question: Can you remind me of your sales mix in terms of carbon fiber versus honeycomb? - Management indicated that while they do not disclose specific product line sales, carbon fiber sales have been growing and are expected to continue [67] Question: How do you view the new industrial applications? - Management sees these as sustainable opportunities that will continue to grow, rather than placeholders while waiting for aerospace recovery [86] Question: What is the expected impact of the Kent relocation of work? - Management confirmed that the transfer of work from the Kent facility to a joint venture will reduce revenue but is expected to be manageable [98]

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, 2021 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 ...

HEXCEL Investor Briefing July 2021 Risks, | --- | --- | |-----------------|-------| | | | | | | | Uncertainties | | | and Other | | | Factors with | | | Respect to | | | Forward-Looking | | | Statements | | | Disclaimer | | Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute "forward-looking statements" and accordingly, involve estimates ...

Hexcel Corporation (NYSE:HXL) Q2 2021 Results Conference Call July 27, 2021 10:00 AM ET Company Participants Nick Stanage - Chairman, President and CEO Patrick Winterlich - CFO Kurt Goddard - VP, IR Conference Call Participants Robert Spingarn - Credit Suisse John McNulty - BMO Capital Markets Gautam Khanna - Cowen Myles Walton - UBS Pete Skibitski - Alembic Global David Strauss - Barclays Paretosh Misra - Berenberg Robert Stallard - Vertical Research Richard Safran - Seaport Global Sheila Kahyaoglu - Jeffe ...

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 June 30, 2021 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) ...

Hexcel Corporation (NYSE:HXL) Q1 2021 Results Earnings Conference Call April 20, 2021 10:00 AM ET Company Participants Patrick Winterlich - Executive Vice President, Chief Financial Officer Nick Stanage - Chief Executive Officer, President, Director Conference Call Participants Robert Stallard - Vertical Research Ken Herbert - Canaccord Robert Spingarn - Credit Suisse David Strauss - Barclays Mike Sison - Wells Fargo Richard Safran - Seaport Global Pete Skibitski - Alembic Global Advisors Paretosh Misra - B ...

HEXCEL Investor Briefing April 2021 Risks, | --- | --- | |-----------------|-------| | | | | | | | Uncertainties | | | and Other | | | Factors with | | | Respect to | | | Forward-Looking | | | Statements | | | Disclaimer | | Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute "forward-looking statements" and accordingly, involve estimate ...

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, 2021 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) ...