LXFR - Luxfer down 14% on prelim Q3 numbers

2023-10-11 08:55:29 ET

• Luxfer ( NYSE: LXFR ) stock price declines 14% as the company sees Q3 net sales of $97M and adjusted EPS of ~$0.04.
• Q2 adjusted EPS was at $0.09, majorly missing estimates by $0.21.
• “...we noted specific areas where our businesses were facing challenges with either waning demand or supply chain issues. These challenges persisted during the third quarter and our third quarter results fell well below our expectations. As a result, our full year 2023 results are now tracking meaningfully lower than the previously provided adjusted earnings per share guidance." said CEO, Andy Butcher.
• Q3 results and the Q4 outlook are expected to be out on Thursday, October 26, 2023.

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