Luxfer reports Q1 EPS 20c, one estimate 8c

Reports Q1 revenue $89.4M, one estimate $82.9M. “As we navigate through the initial months of 2024, our business is showing resilience and improvement, recovering from the high raw materials pricing and stagnant end-market demand experienced last year. We are pleased to report favorable financial results, especially the recovery in Elektron margins, which have significantly improved from the fourth quarter. Our sales performance this quarter was as anticipated, despite prevailing market challenges. Our profitability improved sequentially, driven by a strong product mix and enhanced manufacturing efficiencies. Additionally, we successfully realized an increase in Flameless Ration Heater sales, which were depressed in the latter half of 2023. These achievements highlight our capability and clear direction, setting the stage for ongoing expansion and enhanced shareholder value. We are on track for the year and excited about what the future holds. I am also pleased to report notable progress resulting from our strategic review, both regarding the internal enhancements to our businesses and the positive strides made to sell the Graphic Arts facilities by the end of the year,” says Andy Butcher, CEO.