Hexcel Corporation announced that James (Jamie) Coogan will become Executive Vice President and Chief Financial Officer effective May 1 2026, reporting directly to Chairman, CEO and President Tom Gentile. Coogan succeeds interim CFO Mike Lenz, who will stay on in a senior advisory role during the transition.
Coogan brings more than two years of CFO experience from Axcelis Technologies, where he managed the company’s financial operations from September 2023 through March 2026. His background in high‑growth, technology‑driven businesses is viewed as a strategic fit for Hexcel’s planned expansion in commercial aerospace, defense and space markets.
Hexcel’s most recent fiscal year, FY 2025, ended with sales of $1.894 billion, a slight decline from $1.903 billion in FY 2024. Adjusted diluted earnings per share fell to $1.76 from $2.03, while GAAP diluted EPS dropped to $1.37 from $1.59. Gross margin contracted to 23.0% from 24.7% the year before, largely due to inventory reduction actions and a sales mix that favored lower‑margin products. The company’s free cash flow also slipped to $157.2 million from $202.9 million, reflecting higher working‑capital requirements amid a slower ramp‑up in commercial aircraft production.
Looking ahead, Hexcel has guided 2026 sales to $2.0 billion–$2.1 billion and adjusted diluted EPS to $2.10–$2.30. Management cites a strengthening commercial aircraft production schedule and an expanding defense and space portfolio as key growth drivers. The company’s capital return program—an additional $600 million share‑repurchase authorization approved in October 2025 and a $350 million accelerated share‑repurchase (ASR) completed in the same month—signals confidence in its free‑cash‑flow generation and a commitment to returning value to shareholders.
Investors have responded cautiously to the CFO appointment, balancing the positive outlook for 2026 with concerns about valuation and the lingering impact of margin compression. The market reaction to the Q4 2025 earnings beat—revenue of $491 million versus $480.5 million expected and adjusted EPS of $0.52 versus $0.49 expected—was largely driven by stronger demand in the commercial aerospace segment and disciplined cost management. However, the company’s guidance and capital return initiatives suggest a strategic focus on sustaining growth while maintaining financial flexibility.
Hexcel’s share‑repurchase program, including the $600 million authorization and the $350 million ASR, underscores management’s confidence in the company’s long‑term value. By returning capital to shareholders while pursuing growth in high‑margin defense and space markets, Hexcel aims to balance shareholder rewards with investment in its core capabilities.
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