Filing Flows › Hexcel (HXL) › Q1 2026
Hexcel (HXL) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Hexcel (HXL) reported revenue of $502M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +2% from the quarter before. Operating margin was 11.5%, net earnings $37.2M (7.4% of revenue).
Hexcel, Q1 2026: revenue $502M (+10% year over year), operating margin 11.5%, net earnings $37.2M, operating cash flow $19.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $502M | +2% | +10% |
| Gross profit | $135M | +11% | +32% |
| Operating profit | $57.6M | -6% | +30% |
| Net earnings | $37.2M | -20% | +29% |
| Operating cash flow | $19.0M | -85% | — |
What changed
Revenue was $501.5M in Q1 2026, up 10% year over year and up 2% from the previous quarter. Commercial Aerospace was the largest line at 66% of revenue. Commercial Aerospace added $52.6M year over year (up 19%), 117% of the total change. Space and Defense Market Applications declined 4%.
Gross margin was 26.9%, up 4.4 points from Q1 2025. Operating profit was $57.6M, a 11.5% margin (up 1.8 points year over year). Of the extra revenue versus Q1 2025, 30% reached operating profit, above the 10% margin then. Operating expenses grew 32% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+800%). Net earnings were $37.2M, up 29% year over year. The effective tax rate was 18.2%.
Operating cash flow was $19.0M, 51% of net earnings. Non-cash charges added back $30.4M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items used $57.9M. Capital expenditures of $25.2M exceeded it, leaving free cash flow of −$6.2M.
Questions
What was Hexcel's revenue in the first quarter 2026?
Hexcel (HXL) reported revenue of $502M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +2% from the quarter before.
Was Hexcel profitable in the first quarter 2026?
Operating profit was $57.6M (11.5% of revenue) and net earnings $37.2M.
Source: Hexcel 10-Q on SEC EDGAR.