Hexcel Corp. (HXL) Monday reported first-quarter net income of $43.6 million or $0.43 per share, compared to $39.6 million or $0.39 per share in the prior-year quarter.
Adjusted earnings for the quarter was $0.43 per share. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
First-quarter revenues totaled $416.5 million, up 4.1 percent from $400.1 million last year, while thirteen analysts expected revenues of $417.97 million.
Looking ahead to the fiscal year 2013, the company expects adjusted earnings to be in the range of $1.73 to $1.83 per share, up from its prior estimate of $1.66 to $1.78 per share. Analysts currently expect earnings of $1.77 per share for fiscal 2013.
The company continues to expect revenues in the range of $1.64 billion to $1.74 billion. Analysts currently expect the company to report full-year revenues of $1.70 billion.
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