Hexcel Provides Financial Outlook

Hexcel Corporation (NYSE:HXL) announced today its financial outlook through 2021, as well as longer term targets, during the Company’s Investor Day held in Salt Lake City, Utah.

Chairman, CEO and President Nick Stanage said: “We expect strong sales growth over the next three years and beyond, with adjusted diluted earnings per share to grow at a double-digit rate, supported by Operational Excellence. We expect continued expansion of free cash flow generation, providing a total of $1.8 billion between 2019 and 2023 which will be available for continued investment in organic growth, for strategic acquisitions, and to return to shareholders.”

Outlook For the three-year period 2019 to 2021:
Total Sales to grow at a compounded annual growth rate (CAGR) of 6%-9%
	Commercial Aerospace	4-7% CAGR
	Space & Defense	11-13% CAGR
	Industrial	>10% CAGR
Adjusted Diluted Earnings Per Share* to grow at a double-digit CAGR Capital Expenditures of $500-$550 million in total during this three-year period
For the period 2019-2023:
Free Cash Flow* targeted at $1.8 billion

Mr. Stanage continued, “In the Commercial Aerospace market, we expect to benefit from production increases for the Airbus A320neo, Boeing 737 MAX and 777X, further supported by secular penetration and strong growth in Engines and Nacelles along with other commercial and regional programs. We are benefitting from increased activity in the Space & Defense market, supported by continued strength in the F-35 and military rotorcraft programs, including the CH-53K as well as from our acquisition of ARC Technologies. Our Industrial market remains strong, underpinned by Wind Energy sales along with the continued adoption of composites in the automotive and marine industries.”