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Hexcel Corp - Stock Quote HXL

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Morningstar's Hexcel Corp Stock Analysis

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Hexcel Has Adjusted to a Postpandemic Aviation Supply Chain

Burkett Huey, CFA Equity Analyst

Business Strategy and Outlook

| Burkett Huey, CFA |

Hexcel is one of the three major producers of composite materials (primarily carbon fiber and resin) for the aerospace and defense industry, though it supplies other industrial markets as well. Composites as a percentage of aircraft weight have increased with each generation of aircraft development as composites are frequently lighter than traditional metals, which allows airlines to save on fuel expense, and are as strong as needed for aerospace purposes. We think this trend will continue playing out over the next few decades, as aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration, so we view Hexcel as a long-term growth story within aerospace. As composite penetration has progressed further in wide-bodies than narrow-bodies, Hexcel’s revenue and operating income are more heavily skewed toward wide-bodies than narrow-bodies.

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Key Statistics - HXL

Hexcel Corp's Company Profile

Business Description

Hexcel designs and manufactures high-performance composites, including carbon fibers, for use in commercial aerospace, defense, and other industrial markets. Generally, around 70% of revenue is from the commercial aerospace end market, 17% of revenue is from the defense end market and 13% of revenue is from other industrial end markets. The company operates under two segments: composite materials and engineered products.

281 Tresser Boulevard, Two Stamford Plaza, 16th Floor
Stamford, CT, 06901
T +1 203 969-0666
Industry Aerospace & Defense
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 4,863