Why Hexcel Stock Fell in 2024
2025-01-09 10:04:55 ET
A bad year for Boeing translated into a miserable year for owners of some of the aerospace giant's largest suppliers.
In a year when the S&P 500 was up 23%, Hexcel (NYSE: HXL) shares traded down 15%, according to data provided by S&P Global Market Intelligence , as the aerospace supplier dealt with choppy demand for the composite materials that have become a foundational part of new aircraft manufacture.
Hexcel specializes in the production of carbon fiber materials that offer the durability of metals at a fraction of the weight, making them ideal for making airplanes and other large equipment more fuel efficient. Though the company sells to a variety of industrial and defense customers, commercial aerospace makes up nearly two-thirds of revenue.
NASDAQ: HXL
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