Filing Flows › Hexcel (HXL) › Q2 2026 › vs Q2 2025
Hexcel (HXL) Q2 2026 vs Q2 2025 (year over year)
Hexcel's revenue rose $39.4M (+8%) from $490M in Q2 2025 to $529M in Q2 2026. The biggest changes: Commercial Aerospace Market Applications +$53.5M (+18%); Space and Defense Market Applications −$14.1M (-7%). Gross margin 26.1% against 22.8% (+3.3 pts).
Hexcel, Q2 2026: revenue $529M (+8% year over year), operating margin 13.7%, net earnings $49.3M, operating cash flow $77.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 26.1% | 22.8% | +3.3 pts |
| Operating margin | 13.7% | 6.1% | +7.6 pts |
| Net margin | 9.3% | 2.8% | +6.6 pts |
| Free cash flow margin | 11.0% | 1.6% | +9.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Commercial Aerospace Market Applications | $347M | $293M | $53.5M | +18% |
| Space and Defense Market Applications | $183M | $197M | −$14.1M | -7% |
| Revenue | $529M | $490M | $39.4M | +8% |
| Gross profit | $138M | $112M | $26.6M | +24% |
| Cost of revenue | $391M | $378M | $12.8M | +3% |
| Operating profit | $72.6M | $30.0M | $42.6M | +142% |
| Operating expenses | $65.5M | $81.5M | −$16.0M | -20% |
| Pre-tax earnings | $60.7M | $21.8M | $38.9M | +178% |
| Other expense, net | $11.9M | $8.2M | $3.7M | +45% |
| Research & development | $17.3M | $14.3M | $3.0M | +21% |
| SG&A | $47.2M | $43.0M | $4.2M | +10% |
| Other operating costs | $1.0M | $24.2M | −$23.2M | -96% |
| Net earnings | $49.3M | $13.5M | $35.8M | +265% |
| Income tax | $11.4M | $8.3M | $3.1M | +37% |
| Depreciation & amortization | $30.1M | $30.8M | −$700K | -2% |
| Share-based compensation | $5.2M | $2.7M | $2.5M | +93% |
| Working capital & other | $6.9M | $23.7M | −$16.8M | -71% |
| Operating cash flow | $77.7M | $23.3M | $54.4M | +233% |
| Free cash flow (OCF − capex) | $58.0M | $8.0M | $50.0M | +625% |
| Capital expenditures | $19.7M | $15.3M | $4.4M | +29% |
Questions
How much did Hexcel's revenue grow year over year in Q2 2026?
Hexcel's revenue rose $39.4M (+8%) from $490M in Q2 2025 to $529M in Q2 2026.
What drove Hexcel's revenue change in Q2 2026?
Commercial Aerospace Market Applications +$53.5M (+18%); Space and Defense Market Applications −$14.1M (-7%).