Luxfer Holdings Plc Stock Price, News & Analysis

Luxfer Holdings PLC (NYSE: LXFR) has declared an interim dividend of 12.5 cents per ordinary share, payable on February 2, 2022, to shareholders of record as of January 14, 2022. Payments will be made in U.S. dollars through the Company’s dividend disbursing agent, with options for holders of non-NYSE listed shares to receive payments in pounds sterling. This declaration reflects Luxfer's commitment to returning value to its shareholders amidst its focus on niche applications in materials engineering.

Luxfer Holdings PLC (NYSE: LXFR) announced actions to strengthen its balance sheet concerning its frozen U.S. and U.K. pension plans. The company plans a special one-time payment of $12.7 million to its U.K. Defined Benefit Pension Plan, which is expected to reduce the pension deficit significantly, potentially reaching zero by year-end 2021. Additionally, Luxfer is terminating its U.S. Pension Plan, with completion projected within 12 to 18 months. The CEO highlighted that these steps create strategic flexibility for enhancing shareholder value.

Luxfer Holdings PLC (NYSE: LXFR) reported a 17.4% increase in net sales to $91.2 million for Q3 2021, aided by a 10.2% boost from the SCI acquisition. GAAP net income rose to $6.0 million or $0.21 per share, up from $2.4 million a year prior. Adjusted EPS increased to $0.26, up 8.3%. While adjusted EBITDA grew by 0.7% to $13.8 million, the margin decreased by 250 basis points due to SCI performance. The company narrowed its 2021 EPS guidance to $1.20 - $1.25.

Luxfer Holdings PLC (NYSE: LXFR) has declared an interim dividend of 12.5 cents per ordinary share, payable on November 3, 2021. Shareholders of record by October 15, 2021 will receive the payment, which will be in U.S. dollars, with an option for holders of non-NYSE shares to choose pounds sterling. Additionally, Luxfer plans to release its third-quarter financial results after market close on October 25, 2021, followed by a conference call on October 26, 2021, to discuss these results.

Luxfer Holdings PLC (NYSE: LXFR) announced that David Landless will not seek re-election at the Company's 2022 Annual General Meeting, following corporate governance guidelines recommending retirement after nine years. Landless has served on the board since 2013, becoming Chair in 2019. The Company will announce his successor soon. Additionally, Patrick K. Mullen has been appointed as a Non-Executive Director effective September 1, 2021, bringing over 30 years of industrial experience, including leadership roles at Chicago Bridge & Iron Company and Honeywell's UOP division.

Luxfer Holdings PLC (NYSE: LXFR) reported strong financial results for Q2 2021, with net sales rising 29.2% to $99.0 million, aided by foreign currency benefits and the SCI acquisition. GAAP net income increased to $11.9 million ($0.42 per diluted share) compared to $4.6 million ($0.16 per diluted share) a year ago. Adjusted net income surged 96.2% to $10.2 million ($0.36 per diluted share). The company narrowed its 2021 Adjusted EPS guidance to $1.15 to $1.30, factoring in the SCI acquisition's impact.

Luxfer Gas Cylinders has partnered with Octopus Hydrogen to develop bulk gas transport modules for transporting green hydrogen across the UK. These 40ft Multiple Element Gas Containers (MEGC) can carry 1.1 tonnes of hydrogen and aim to tackle the infrastructure barriers hindering green hydrogen adoption in heavy goods transport and aviation. Production will begin in mid-2022 from Luxfer's Nottingham facility, leveraging their extensive experience in alternative fuel systems, contributing to the hydrogen economy and net zero goals.

Luxfer Holdings PLC (NYSE: LXFR) has announced a quarterly dividend of 12.5 cents per ordinary share, payable on August 4, 2021. Shareholders must be on record by July 16, 2021, to receive the dividend in U.S. dollars, although holders not listed on the NYSE can opt for payments in pounds sterling. The company is set to release its second-quarter financial results after market close on July 26, 2021, followed by a conference call at 8:30 a.m. EDT on July 27, 2021.

Luxfer Holdings PLC (NYSE: LXFR) announced Q1 results, reporting a 3.6% drop in net sales to $85.2 million. Factors impacting sales included COVID-19, but growth in alternative fuel and military products partially offset declines. GAAP net income rose to $8.6 million ($0.31 per diluted share), while adjusted net income increased 16% to $10.9 million. Free cash flow improved, leading to a $26 million annualized savings from transformation initiatives. Guidance for adjusted EPS was raised to $1.10 to $1.30.