Strong Defense and Space Segment Growth
Defense, Space and Other segment sales were $182 million in the third quarter, an increase of 11.7% on a constant currency basis over the same period last year, driven by strong demand for fighters, rotorcraft, and space programs.
Positive Aerospace Outlook
The backlog for commercial aircraft has grown from 13,000 units before the pandemic to more than 15,000 today. Air traffic has more than recovered to 2019 levels, indicating a strong future demand for aerospace materials.
Share Repurchase Program
Hexcel announced a $600 million share repurchase program and a $350 million accelerated share repurchase program, indicating strong confidence in future growth and cash generation.
Future Growth Expectations
Hexcel expects to generate over $1 billion in cumulative free cash flow over the next 4 years and anticipates significant organic growth opportunities driven by modern lightweight aircraft demand.