Luxfer reports ‘strong’ Q2 2023 financial results


Andy Butcher, CEO of Luxfer Holdings, says the company’s second quarter (Q2) 2023 results highlight a strong and broad-based uplift from its defence, first response and healthcare offerings, as well an increase in gas cylinder sales.

Net sales of $110.4m increased $0.9m from $109.5m in the prior year. This included a $6.5m benefit from cost pass-through to cover rising material inflation, partially offset by a negative impact from volume/mix of $5.8m.

GAAP net income from continuing operations decreased to $4.9m, or $0.18 per diluted share, compared to $9.6m, or $0.35 per diluted share, in the prior year period.

Q2 GAAP net income includes $2.3m in asset impairment charges tied to rationalisation of Luxfer’s North American Gas Cylinders businesses to reduce the fixed cost base.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...