Hexcel Corporation Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 25, 2021 at 04:15 pm EST
Share
Hexcel Corporation announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was USD 295.8 million compared to USD 564.3 million a year ago. Operating loss was USD 20.4 million compared to operating Income of USD 97.4 million a year ago. Net loss was USD 19.4 million compared to net income of USD 73.2 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to basic earnings per share from continuing operations of USD 0.87 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to diluted earnings per share from continuing operations of USD 0.86 a year ago. For the full year, sales was USD 1,502.4 million compared to USD 2,355.7 million a year ago. Operating income was USD 14.1 million compared to USD 425.2 million a year ago. Net income was USD 31.7 million compared to USD 306.6 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 3.61 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 3.57 a year ago.
Hexcel Corporation is engaged in providing advanced lightweight composites technology. The Company's product range includes carbon fiber, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, resins, engineered core and composite structures for use in commercial aerospace, space and defense, and industrial applications. The Company operates through two segments: Composite Materials and Engineered Products. The Composite Materials segment comprises its carbon fiber, specialty reinforcements, resin systems, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles. The Engineered Products segment consists of lightweight high strength composite structures, radio frequency/electromagnetic interference (RF/EMI) and microwave absorbing materials, engineered core and specialty machined honeycomb products with added functionality and thermoplastic additive manufacturing.