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News Release Hexcel Corporation , 281 Tresser Boulevard , Stamford , CT 06901 ( 203 ) 969-0666 HEXCEL REPORTS 2021 THIRD QUARTER RESULTS Q3 2021 GAAP diluted EPS of $ 0.11 and adjusted diluted EPS of $ 0.13 , compared to Q3 2020 GAAP diluted EPS of $ 0.12 and adjusted diluted EPS of $ ( 0.29 ) . Q3 2021 Sales were $ 334 million , compared to $ 287 million in Q3 2020 . Free Cash Flow YTD of $ 49 million . See Table C for reconciliation of GAAP and non - GAAP operating income ( loss ) , net income ( loss ) , 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 Income ( Loss ) Net Income ( Loss ) Diluted net income ( loss ) per common share HEXCEL Non - GAAP measures for year - over - year comparison ( Table C ) Adjusted Operating Income ( Loss ) As a % of sales Adjusted Net Income ( Loss ) Adjusted diluted net income ( loss ) per share Quarters Ended September 30 , 2020 2021 333.8 $ 286.9 22.8 ( 37.6 ) 9.7 9.0 0.11 $ 0.12 23.6 $ ( 21.8 ) 7.1 % 11.0 0.13 ( 7.6 ) % ( 24.3 ) $ ( 0.29 ) % Change 16.3 % $ 15.9 % 160.6 % ( 7.2 ) % ( 8.3 ) % $ 208.3 % $ 145.3 % 144.8 % $ Nine Months Ended September 30 , 2020 2021 964.4 $ 1,206.6 34.5 28.8 ( 2.8 ) 51.1 ( 0.03 ) $ 0.61 44.8 $ 78.1 4.6 % 9.7 0.11 $ 6.5 % 35.9 0.43 % Change ( 20.1 ) % ( 21.1 ) % ( 16.5 ) % ( 105.5 ) % ( 104.9 ) % ( 42.6 ) % ( 73.0 ) % ( 74.4 ) %