On April 19 Hexcel Corp. (Stamford, Conn., U.S.) reported its first quarter 2021 results, with net sales of $310 million, and adjusted diluted EPS of $(0.10) per share, compared to $541 million Q1 2020. According to Chairman, CEO and President Nick Stanage, the results were in line with the company’s expectations, and reflect a strong focus on cost controls in light of the pandemic-related economic headwinds the industry faces, including the impact of continued supply chain destocking. “This first quarter, along with Q3 and Q4 2020, are projected to be the low point of the current pandemic-driven demand cycle, and we now expect destocking to wind down as we move through the second quarter and to be mostly behind us as we enter the second half of the year,” Stanage says. “At that point, Commercial Aerospace sales should start to grow steadily, more closely reflecting OEM aircraft build rates. We expect a gradual step up in sales each quarter as 2021 progresses, followed by an extended period of growth starting in 2022.”