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Luxfer Holdings PLC Ordinary Shares (symbol: LXFR) is a global manufacturer renowned for its innovative approaches in materials engineering. The company operates across various sectors, producing high-performance materials, components, and high-pressure gas containment devices. Luxfer is a market leader, especially noted for its light, durable, and corrosion-resistant aluminum and composite cylinders designed for high-pressure gas storage.
Core Business and Products: Luxfer’s product portfolio caters to an array of industries including life support, alternative fuel, medical, specialty gas, industrial, beverage, fire extinguishers, aerospace, inflation, scuba, and performance racing. The organization’s significant segments include Elektron, Gas Cylinders, and Graphic Arts, with Elektron and Gas Cylinders being the primary revenue generators. Their products leverage patented and proprietary alloys, ensuring top-tier durability and safety.
Global Presence and Manufacturing Facilities: Luxfer boasts a robust global presence with manufacturing facilities strategically located in the United States, the UK, France, Canada, China, and India. Their expansive reach ensures that more than 50 million Luxfer cylinders are in service worldwide, maintaining an exemplary record of reliability and safety.
Innovation and Milestones: With a rich history of cylinder innovation, Luxfer continues to focus on value creation through its extensive technical knowledge and proprietary technologies. The company’s high-performance materials and cutting-edge solutions are crucial for applications in defense, first response, healthcare, transportation, and general industrial sectors.
Recent Achievements and Current Projects: Luxfer remains committed to fostering a safe, clean, and energy-efficient world. Recent projects and developments emphasize sustainable practices and advanced materials technology, reinforcing the company’s position at the forefront of industrial innovation.
Luxfer Holdings PLC (NYSE: LXFR) has declared a quarterly cash dividend of 13 cents per ordinary share, a 4% increase from the prior 12.5 cents. The annualized dividend now totals 52 cents per share, up from 50 cents. The next dividend payment is scheduled for May 4, 2022, to shareholders on record by April 14, 2022. CEO Alok Maskara emphasized the company's strong financial performance in 2021, returning approximately $20 million to shareholders. Additionally, Patrick Mullen has been appointed as the new Board Chair, succeeding David Landless.
Luxfer Holdings PLC (LXFR) reported a robust Q4 2021 with net sales of $98.7 million, a 20.2% increase, driven by the SCI acquisition and industrial products. GAAP EPS decreased to $0.13 from $0.24 due to restructuring charges. Adjusted EPS rose 3.7% to $0.28, and Adjusted EBITDA increased 5.8% to $14.6 million. For the full year, sales reached $374.1 million, a 15.2% growth, with an adjusted EPS up 25.2%. Luxfer provided 2022 EPS guidance of $1.30 - $1.50 and a long-term target of $2.00 by 2025.
Luxfer Holdings PLC (NYSE: LXFR) announced the retirement of CFO Heather Harding, effective March 1, 2022, with Steve Webster appointed as her successor. Webster, who has been Corporate Controller for six years, will ensure continuity during the transition. The company expressed gratitude to Harding for her leadership during her tenure. Additionally, Luxfer will report its fourth quarter and full year 2021 financial results after market close on February 21, 2022, followed by a conference call on February 22 to discuss these results.
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.
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