Hexcel Issues FY20 Outlook

(RTTNews) - Hexcel Corp. (HXL) announced, for fiscal 2020, adjusted earnings per share is projected to rise in low-to-mid-single-digit. The company estimates flat-to-low-single-digit growth in sales. Free cash flow is projected to be greater than $300 million. Hexcel said, in relation to the Boeing 737 MAX, the company intends to continue working very closely with Boeing and all of its 737 MAX program customers to meet their demand needs.

CEO Nick Stanage said: "There continues to be considerable uncertainty in terms of the number of 737 MAX planes to be produced in 2020. To provide clarity on our guidance, we have assumed that we will sell material for 200 737 MAX aircraft in 2020. As the actual demand becomes clearer as we move through the year we will adjust guidance accordingly."

The Board of Directors declared a quarterly dividend of $0.17 per share. The dividend will be payable to stockholders of record as of February 14, 2020, with a payment date of February 21, 2020.