Filing Flows › Hexcel (HXL) › Q3 2026 › vs Q2 2026
Hexcel (HXL) Q3 2026 vs Q2 2026 (quarter over quarter)
Hexcel's revenue fell $32.9M (-6%) from $529M in Q2 2026 to $496M in Q3 2026. The biggest changes: Space and Defense Market Applications −$16.6M (-9%); Commercial Aerospace Market Applications −$16.3M (-5%). Gross margin 23.3% against 26.1% (-2.8 pts).
Hexcel, Q3 2026: revenue $496M (+9% year over year), operating margin 11.0%, net earnings $38.6M, operating cash flow $74.4M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 23.3% | 26.1% | -2.8 pts |
| Operating margin | 11.0% | 13.7% | -2.7 pts |
| Net margin | 7.8% | 9.3% | -1.5 pts |
| Free cash flow margin | 10.2% | 11.0% | -0.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Commercial Aerospace Market Applications | $330M | $347M | −$16.3M | -5% |
| Space and Defense Market Applications | $166M | $183M | −$16.6M | -9% |
| Revenue | $496M | $529M | −$32.9M | -6% |
| Gross profit | $116M | $138M | −$22.6M | -16% |
| Cost of revenue | $381M | $391M | −$10.3M | -3% |
| Operating profit | $54.8M | $72.6M | −$17.8M | -25% |
| Operating expenses | $60.7M | $65.5M | −$4.8M | -7% |
| Pre-tax earnings | $42.7M | $60.7M | −$18.0M | -30% |
| Other expense, net | $12.1M | $11.9M | $200K | +2% |
| Net earnings | $38.6M | $49.3M | −$10.7M | -22% |
| Income tax | $4.1M | $11.4M | −$7.3M | -64% |
| Depreciation & amortization | $30.0M | $30.1M | −$100K | -0.3% |
| Share-based compensation | $3.9M | $5.2M | −$1.3M | -25% |
| Working capital & other | $1.9M | −$6.9M | $8.8M | — |
| Operating cash flow | $74.4M | $77.7M | −$3.3M | -4% |
| Free cash flow (OCF − capex) | $50.7M | $58.0M | −$7.3M | -13% |
| Capital expenditures | $23.7M | $19.7M | $4.0M | +20% |
Questions
How much did Hexcel's revenue grow quarter over quarter in Q3 2026?
Hexcel's revenue fell $32.9M (-6%) from $529M in Q2 2026 to $496M in Q3 2026.
What drove Hexcel's revenue change in Q3 2026?
Space and Defense Market Applications −$16.6M (-9%); Commercial Aerospace Market Applications −$16.3M (-5%).