Luxfer Holdings PLC · Q2 2020 earnings

Briefing

Luxfer's second quarter results reflected the global macro environment of the COVID-19 pandemic, with broad-based market weakness that was especially evident in industrial and transportation end-markets.

Luxfer Holdings PLC announced financial results for the second quarter of 2020. Net sales decreased by 23.2% to $89.5 million. GAAP net income was $4.1 million, or $0.15 per diluted share. Free cash flow was $12.1 million.

• Net sales of $89.5 million decreased 23.2%, including a 1.3% unfavorable impact from currency and a 2.7% decrease due to the divestiture of the Czech recycling operation
• GAAP net income of $4.1 million, including $0.8 million in restructuring expenses, improved from a net income of $3.5 million; adjusted net income of $4.7 million decreased 62.1%
• GAAP EPS of $0.15, improved from $0.13; adjusted EPS of $0.17 decreased 61.4%
• Free cash flow of $12.1 million increased from negative ($11.7) million in the prior year

Headline financials

Revenue & EPS history

Given the continued market uncertainty and volatility, Luxfer is not providing financial guidance for the remainder of the year. We will continue to focus on controllable business measures, such as cost reductions and cash generation.