HXL - Why Shares of Hexcel Soared This Week
Shares in advanced-materials company Hexcel (NYSE: HXL) were up by 12.9% in the week through Thursday. There are no prizes for guessing why: Most of the lifting was done by the release of its fourth-quarter earnings on Thursday.
In a nutshell, Hexcel beat estimates for the quarter, gave full-year guidance generally ahead of the market consensus, and said that it would restart construction of a new carbon-fiber line in an Alabama factory "which should be aerospace qualified in 2025 and will provide needed capacity based on forecasted growth." Construction was paused in 2020.
Hexcel makes advanced lightweight composite materials. Its composites offer weight and strength advantages over traditional materials, and are used where those qualities are at a premium.
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Why Shares of Hexcel Soared This Week