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Jun 30, 2024
Luxfer Q2 2024 Earnings Report
Luxfer's Q2 2024 performance featured sequential margin improvement and raised full-year guidance due to legal expense recovery.
Key Takeaways
Luxfer reported GAAP net sales of $99.7 million, a 9.7% decrease year-over-year, but a rebound of 11.5% quarter-over-quarter. The company achieved sequential adjusted margin improvement for the past two quarters through operational efficiencies and recognized $5.1 million of legal expense recovery. Due to better performance and legal expense recovery, Luxfer raised its full-year 2024 guidance for Adjusted EBITDA, Adjusted EPS, and Free Cash Flow.
GAAP Net Sales reached $99.7 million, a 9.7% YoY decline, but an 11.5% QoQ increase.
Sequential adjusted margin improved for the past two quarters through operational efficiencies.
Recognized $5.1 million recovery of legal expenses.
Full-year 2024 guidance raised for Adjusted EBITDA to $47 to $50 million, Adjusted EPS to $0.90 to $1.00, and Free Cash Flow to $24 to $27 million.
Forward Guidance
Luxfer raised its full-year 2024 guidance due to better performance in the second quarter and the higher-than-anticipated recovery of legal expenses.
Positive Outlook
- Adjusted EBITDA is now expected to be between $47 million and $50 million.
- Adjusted EPS is expected to be in the range of $0.90 to $1.00.
- Free Cash Flow is expected to be between $24 million and $27 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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