While reporting its results for the third quarter, Hexcel Corporation (HXL) revised its outlook for the full year.
The company now expects full year EPS of $1.12 to $1.24 per share and revenues of $1.53 billion to $1.60 billion.
Previously, the company expected earnings of $1.00 to $1.24 per share and revenues of $1.50 billion to $1.63 billion for the full year 2022.
Analysts polled by Thomson Reuters currently estimate earnings of $1.23 per share and revenues of $1.59 billion. Analysts' estimates typically exclude one-time items.
CEO Nick Stanage said, "As we head into the fourth quarter, we are narrowing our 2022 financial guidance ranges and raising our EPS midpoint based on our strong execution year to date. For the remainder of the year, we will continue our focus on maximizing production and sales, while continuing to drive efficiency and control costs. We anticipate a strong 2023 as supply chains recover, our new employees gain operational experience, and our customers further increase aircraft build rates. Our Hexcel team remains motivated and committed to achieving operational excellence, driving innovation and increasing shareholder value."
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