HXL FY 2023 Earnings Report — Hexcel Corporation Revenue & Financial Results | Market Cap Arena

Hexcel CorporationHXL

FY 2023 Earnings

Reported February 7, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.6B	—	13.4%
Op. Income	$215M	—	$175M	—	22.9%
Gross Margin	24.2%	—	22.6%	—	1.6pp
Net Margin	5.9%	—	8.0%	—	-2.1pp
EPS (Diluted)	$1.24	—	$1.49	—	-16.8%
Free Cash Flow	$149M	—	$97M	—	53.8%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$433M
R&D Expenses	$53M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$164M
Other Expenses	$1M
Operating Expenses	$218M
Cost & Expenses	$1.6B
OPERATING INCOME	$215M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$98M
INCOME BEFORE TAX	$118M
Income Tax Expense	$12M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$125M
EBIT	$144M
EBITDA	$269M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$433M
R&D Expenses	$53M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$164M
Other Expenses	$1M
Operating Expenses	$218M
Cost & Expenses	$1.6B
OPERATING INCOME	$215M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$98M
INCOME BEFORE TAX	$118M
Income Tax Expense	$12M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$125M
EBIT	$144M
EBITDA	$269M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$106M
Depreciation & Amortization	$125M
Stock-Based Compensation	$21M
Deferred Income Tax	-$33M
Other Non-Cash Items	$64M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$257M
Capital Expenditure	-$108M
Acquisitions (Net)	$10M
Purchases of Investments	$0
Sales/Maturities of Investments	$47M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$51M
Net Debt Issuance	-$25M
Common Stock Repurchased	-$30M
Common Dividends Paid	-$42M
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$93M
FREE CASH FLOW	$149M
Net Change in Cash	$115M

Balance Sheet

Item	Amount
Cash & Equivalents	$227M
Short-Term Investments	$0
Net Receivables	$260M
Inventory	$334M
Other Current Assets	$43M
TOTAL CURRENT ASSETS	$864M
PP&E (Net)	$1.7B
Goodwill	$189M
Intangible Assets	$63M
Long-Term Investments	$5M
Tax Assets	$0
Other Non-Current Assets	$119M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$2.9B
Account Payables	$159M
Short-Term Debt	$7M
Deferred Revenue	$0
Other Current Liabilities	$74M
TOTAL CURRENT LIABILITIES	$316M
Long-Term Debt	$698M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$111M
Other Non-Current Liabilities	$54M
TOTAL NON-CURRENT LIABILITIES	$886M
TOTAL LIABILITIES	$1.2B
Common Stock	$1M
Additional Paid-In Capital	$937M
Retained Earnings	$2.2B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	-$74M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$729M
Net Debt	$502M