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HEXCEL News Release Exhibit 99.1 Hexcel Corporation , 281 Tresser Boulevard , Stamford , CT 06901 ( 203 ) 969-0666 HEXCEL REPORTS 2021 FIRST QUARTER RESULTS Q1 2021 GAAP basic EPS of ( $ 0.17 ) and adjusted basic EPS of ( $ 0.10 ) , compared to Q1 2020 GAAP diluted EPS of $ 0.50 and adjusted diluted EPS of $ 0.64 . ⚫Q1 2021 Sales were $ 310 million , compared to $ 541 million in the first quarter of 2020 . • Strong liquidity at March 31 , 2021 included cash of $ 82 million and revolver borrowing availability of $ 536 million . See table C for reconciliation of GAAP and non - GAAP operating ( loss ) income , net ( loss ) income and earnings ( loss ) per share and operating cash flow to free cash flow . Free cash flow is cash from operations less capital expenditures . Summary of Results from Operations ( In millions , except per share data ) Net Sales Net sales change in constant currency Operating ( loss ) income Net ( loss ) income Diluted net ( loss ) income per common share Non - GAAP measures for year - over - year comparison ( Table C ) Adjusted Operating income As a % of sales Adjusted Net ( loss ) income ( Table C ) Adjusted diluted net income per share Quarters Ended March 31 , 2021 2020 % Change $ 310.3 $ 541.0 ( 42.6 ) % ( 43.5 ) % ( 10.2 ) 65.7 ( 115.5 ) % ( 14.0 ) 42.4 ( 133.0 ) % ( 0.17 ) $ 0.50 ( 133.4 ) % 1.9 $ 80.4 ( 97.6 ) % 0.6 % 14.9 % ( 8.4 ) 53.8 ( 115.6 ) % $ ( 0.10 ) $ 0.64 ( 115.6 ) %