Hexcel Corp Files 10-Q for Q2 2024
Ticker: HXL · Form: 10-Q · Filed: Jul 18, 2024 · CIK: 717605
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
HEXCEL CORP 10-Q FILED: Q2 2024 financials are in. Check it out.
AI Summary
Hexcel Corporation filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational segments, including Engineered Products and Industrial Market Applications. Key financial data and segment information are presented for the reporting period and comparative prior periods.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational updates for Hexcel Corporation, crucial for understanding the company's performance in the materials sector.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.
Key Numbers
- 20240630 — Period End Date (Financial reporting period)
- 20240718 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- HEXCEL CORP /DE/ (company) — Filer
- 20240630 (date) — Period of Report
- 20240718 (date) — Filing Date
- STAMFORD (location) — Business Address City
- 203-969-0666 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20240718.
What is Hexcel Corporation's primary business classification?
Hexcel Corporation is classified under SIC code 2821: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS.
What are the main operating segments mentioned in the filing?
The filing references 'Engineered Products' and 'Industrial Market Applications' as operating segments.
Where is Hexcel Corporation's principal business address?
The business address is Two Stamford Plaza, 281 Tresser Blvd., 16th Floor, Stamford, CT 06901.
Filing Stats: 4,661 words · 19 min read · ~16 pages · Grade level 6.3 · Accepted 2024-07-18 07:30:31
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 HXL New York Stock Exchange Indic
Filing Documents
- hxl-20240630.htm (10-Q) — 2253KB
- hxl-ex10_4.htm (EX-10.4) — 71KB
- hxl-ex31_1.htm (EX-31.1) — 14KB
- hxl-ex31_2.htm (EX-31.2) — 13KB
- hxl-ex32.htm (EX-32) — 15KB
- img130927924_0.jpg (GRAPHIC) — 4KB
- 0000950170-24-084437.txt ( ) — 9770KB
- hxl-20240630.xsd (EX-101.SCH) — 1199KB
- hxl-20240630_htm.xml (XML) — 2112KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22 ITEM 4.
Controls and Procedures
Controls and Procedures 23 PART II. OTHER INFORMATION 23 ITEM 1.
Legal Proceedings
Legal Proceedings 23 ITEM 1A.
Risk Factors
Risk Factors 23 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 ITEM 5. Other Information 24 ITEM 6. Exhibits 25 SIGNATURE 26 2
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
Condensed Consolidated F inanc ial Statements
ITEM 1. Condensed Consolidated F inanc ial Statements Hexcel Corporation and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, (In millions) 2024 2023 Assets Current assets: Cash and cash equivalents $ 75.4 $ 227.0 Accounts receivable, net 283.1 234.7 Inventories, net 351.5 334.4 Contract assets 34.5 25.1 Prepaid expenses and other current assets 63.1 43.0 Total current assets 807.6 864.2 Property, plant and equipment 3,211.8 3,195.5 Less accumulated depreciation ( 1,563.1 ) ( 1,516.8 ) Net property, plant and equipment 1,648.7 1,678.7 Goodwill and other intangible assets, net 246.8 251.3 Investments in affiliated companies 5.0 5.0 Other assets 119.5 119.3 Total assets $ 2,827.6 $ 2,918.5 Liabilities and Stockholders' Equity Current liabilities: Short-term borrowings $ 0.1 $ 0.1 Accounts payable 124.8 159.1 Accrued compensation and benefits 80.2 75.7 Financial instruments 3.2 6.0 Accrued liabilities 85.4 75.0 Total current liabilities 293.7 315.9 Long-term debt 794.9 699.4 Retirement obligations 31.1 42.6 Deferred income taxes 106.5 110.6 Other non-current liabilities 30.2 33.5 Total liabilities 1,256.4 1,202.0 Stockholders' equity: Common stock, $ 0.01 par value, 200.0 shares authorized, 111.4 shares and 110.8 shares issued at June 30, 2024 and December 31, 2023, respectively 1.1 1.1 Additional paid-in capital 959.6 936.8 Retained earnings 2,230.2 2,168.7 Accumulated other comprehensive loss ( 91.3 ) ( 74.1 ) 3,099.6 3,032.5 Less – Treasury stock, at cost, 29.7 shares at June 30, 2024 and 26.7 shares at December 31, 2023 ( 1,528.4 ) ( 1,316.0 ) Total stockholders' equity 1,571.2 1,716.5 Total liabilities and stockholders' equity $ 2,827.6 $ 2,918.5 The accompanying notes are an integral pa