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Mar 28, 2021
Luxfer Q1 2021 Earnings Report
Luxfer's financial performance for Q1 2021 was announced, revealing a mix of challenges and strategic progress.
Key Takeaways
Luxfer Holdings PLC reported a decrease in net sales by 3.6% to $85.2 million, but GAAP net income increased to $8.6 million and adjusted EPS increased by 14.7% to $0.39. The company completed the acquisition of Structural Composites Industries (SCI) and the sale of its Graham, North Carolina aluminum cylinder facility.
Net sales decreased by 3.6% to $85.2 million, including a 3.4% benefit from currency.
GAAP net income increased to $8.6 million, and adjusted net income increased by 16.0% to $10.9 million.
GAAP EPS increased to $0.31, and adjusted EPS increased by 14.7% to $0.39.
Adjusted EBITDA increased by 12.0% to $17.7 million, with the adjusted EBITDA margin expanding to 20.8%.
Forward Guidance
Luxfer updated its financial guidance for 2021, expecting Adjusted EPS to be in the range of $1.10 to $1.30, which includes a $0.15 dilutive impact from the SCI acquisition.
Positive Outlook
- Strong balance sheet
- Undrawn credit facility
- Financial flexibility to continue investing in growth
- Exploring acquisition opportunities
- SCI expected to be accretive to 2022 earnings
Challenges Ahead
- Market uncertainty remains
- $0.15 dilutive impact of SCI losses
- SCI integration costs
- Negative impact of COVID-19 on industrial end markets
- Remaining Aluminum facilities divestiture by year-end
Historical Earnings Impact
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Avg. Return Before/After Earnings
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