--- title: "Luxfer | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 83.9 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/284444516.md" datetime: "2026-04-28T20:30:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284444516.md) - [en](https://longbridge.com/en/news/284444516.md) - [zh-HK](https://longbridge.com/zh-HK/news/284444516.md) --- # Luxfer | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 83.9 M Revenue: As of FY2026 Q1, the actual value is USD 83.9 M, missing the estimate of USD 84.5 M. EPS: As of FY2026 Q1, the actual value is USD 0.13. EBIT: As of FY2026 Q1, the actual value is USD 6.9 M. #### Consolidated Financial Performance - **Net Sales**: Luxfer Holdings PLC reported consolidated net sales of $83.9 million for the First Quarter of 2026, a -13.5% decrease from $97.0 million in the First Quarter of 2025. Excluding the Graphic Arts segment and adjusting for foreign exchange, net sales decreased by -8.6% . - **Gross Profit**: Gross profit increased to $21.9 million in the First Quarter of 2026 from $21.4 million in the First Quarter of 2025, a 2.3% increase. As a percentage of net sales, gross profit improved from 22.1% in 2025 to 26.1% in 2026 . - **Operating Income**: Operating income decreased to $6.2 million in the First Quarter of 2026 from $7.6 million in the First Quarter of 2025, an -18.4% decrease. As a percentage of net sales, operating income was 7.4% in 2026, down from 7.8% in 2025 . - **Net Income from Continuing Operations**: Net income from continuing operations was $3.8 million in the First Quarter of 2026, down from $5.5 million in the First Quarter of 2025, a -30.9% decrease . - **Net Loss from Discontinued Operations**: The company reported a net loss from discontinued operations of -$0.2 million in the First Quarter of 2026, compared to $0.0 million in the First Quarter of 2025 . - **Net Interest Expense**: Net interest expense decreased by -12.5% to -$0.7 million in the First Quarter of 2026 from -$0.8 million in the First Quarter of 2025 . - **Defined Benefit Pension Credit**: The defined benefit pension credit was $0.0 million in the First Quarter of 2026, a decrease from $0.6 million in the First Quarter of 2025 . - **Provision for Income Taxes**: The provision for income taxes was -$1.7 million in the First Quarter of 2026, compared to -$1.9 million in the First Quarter of 2025. The effective income tax rate on continuing operations increased from 25.7% in 2025 to 30.9% in 2026 . - **Restructuring Charges**: Consolidated restructuring charges increased significantly to -$2.3 million in the First Quarter of 2026 from -$0.1 million in the First Quarter of 2025 . - **Other Costs**: Other costs were -$0.6 million in the First Quarter of 2026, with no comparable costs in 2025 . - **Share-based Compensation Charges**: Total share-based compensation charges remained consistent at -$0.9 million for both the First Quarter of 2026 and 2025 . #### Gas Cylinders Segment - **Net Sales**: Net sales for the Gas Cylinders segment increased by 1.7% to $41.8 million in the First Quarter of 2026 from $41.1 million in the First Quarter of 2025, driven by increased sales of Alternative Fuel (AF) cylinders . - **Adjusted EBITA**: Adjusted EBITA rose to $3.1 million in the First Quarter of 2026 from $1.8 million in the First Quarter of 2025, a 72.2% increase. As a percentage of net sales, Adjusted EBITA increased by 3.0 percentage points to 7.4% in 2026 from 4.4% in 2025 . - **Adjusted EBITDA**: Adjusted EBITDA increased by 46.2% to $3.8 million in the First Quarter of 2026 from $2.6 million in the First Quarter of 2025. As a percentage of net sales, Adjusted EBITDA increased by 2.8 percentage points to 9.1% in 2026 from 6.3% in 2025 . - **Depreciation and Amortization**: Depreciation and amortization for the segment was -$0.7 million in 2026, down from -$0.8 million in 2025 . - **Restructuring Charges**: Restructuring charges were -$2.2 million in 2026, up from -$0.1 million in 2025 . - **Total Assets**: Total assets were $124.4 million as of March 29, 2026, compared to $121.8 million as of December 31, 2025 . - **Capital Expenditures**: Capital expenditures increased to -$0.7 million in the First Quarter of 2026 from -$0.3 million in the First Quarter of 2025 . #### Elektron Segment - **Net Sales**: Net sales for the Elektron segment decreased by -14.8% to $42.1 million in the First Quarter of 2026 from $49.4 million in the First Quarter of 2025, primarily due to reduced sales of zirconium powders . - **Adjusted EBITA**: Adjusted EBITA slightly decreased by -2.7% to $7.1 million in the First Quarter of 2026 from $7.3 million in the First Quarter of 2025. As a percentage of net sales, Adjusted EBITA increased by 2.1 percentage points to 16.9% in 2026 from 14.8% in 2025 . - **Adjusted EBITDA**: Adjusted EBITDA decreased by -2.3% to $8.5 million in the First Quarter of 2026 from $8.7 million in the First Quarter of 2025. As a percentage of net sales, Adjusted EBITDA increased by 2.6 percentage points to 20.2% in 2026 from 17.6% in 2025 . - **Depreciation and Amortization**: Depreciation and amortization for the segment remained consistent at -$1.6 million for both 2026 and 2025 . - **Restructuring Charges**: Restructuring charges were -$0.1 million in 2026, with no comparable charges in 2025 . - **Total Assets**: Total assets were $186.6 million as of March 29, 2026, compared to $171.0 million as of December 31, 2025 . - **Capital Expenditures**: Capital expenditures increased to -$1.4 million in the First Quarter of 2026 from -$1.0 million in the First Quarter of 2025 . #### Graphic Arts Segment (Disposed) - **Net Sales**: The Graphic Arts segment, sold in July 2025, reported net sales of $6.5 million in the First Quarter of 2025 . - **Adjusted EBITA**: Adjusted EBITA for the segment was -$0.3 million in the First Quarter of 2025 . - **Adjusted EBITDA**: Adjusted EBITDA for the segment was -$0.3 million in the First Quarter of 2025 . - **Capital Expenditures**: Capital expenditures for the segment were -$0.1 million in the First Quarter of 2025 . #### Cash Flow Metrics - **Net Cash (Used) / Provided by Operating Activities**: Net cash used by operating activities was -$4.1 million in the First Quarter of 2026, compared to $5.4 million provided in the First Quarter of 2025, primarily due to increased working capital . - **Net Cash Used by Investing Activities**: Net cash used by investing activities was -$2.1 million in the First Quarter of 2026, compared to -$1.4 million in the First Quarter of 2025 . - **Net Cash Provided / (Used) by Financing Activities**: Net cash provided by financing activities was $12.6 million in the First Quarter of 2026, compared to -$4.2 million used in the First Quarter of 2025, including net drawdowns of $18.3 million on the revolving credit facility . - **Capital Expenditures (Consolidated)**: Consolidated capital expenditures were -$2.0 million in the First Quarter of 2026, up from -$1.2 million in the First Quarter of 2025 . - **Dividends Paid**: Dividends paid were -$3.5 million in the First Quarter of 2026, consistent with -$3.5 million in the First Quarter of 2025 . - **Repurchase of Own Shares**: The company repurchased -$0.7 million of its own shares (50,000 shares) in the First Quarter of 2026, compared to -$0.5 million (40,000 shares) in the First Quarter of 2025 . #### Debt and Liquidity - **Total Debt**: Total debt outstanding was $57.7 million as of March 29, 2026, up from $39.4 million as of December 31, 2025 . - **4.94% Loan Notes due 2026**: These notes remained at $25.0 million as of March 29, 2026, and December 31, 2025, with repayment expected to be funded through the Revolving Credit Facility . - **Revolving Credit Facility**: The balance outstanding was $33.5 million as of March 29, 2026, up from $15.3 million as of December 31, 2025, with $91.5 million undrawn . - **Committed Banking Facilities**: Luxfer Holdings PLC had committed banking facilities of $125.0 million as of March 29, 2026, with $33.5 million drawn and an additional $25.0 million available through an uncommitted accordion provision . - **Contractual Obligations**: Total contractual cash obligations were $85.5 million, with $33.6 million due in less than 1 year . #### Discontinued Operations (Superform) - **Net Sales**: Net sales for the Superform business were $1.8 million in the First Quarter of 2026, compared to $1.5 million in the First Quarter of 2025 . - **Net Loss**: The Superform business incurred a net loss of -$0.2 million in the First Quarter of 2026, compared to $0.0 million in the First Quarter of 2025 . - **Assets and Liabilities Held-for-Sale**: As of March 29, 2026, current assets held-for-sale were $6.3 million and current liabilities held-for-sale were $3.5 million . #### Strategic Outlook and Trends Luxfer Holdings PLC anticipates navigating near-term uncertainties while maintaining strategic discipline for long-term growth in 2026. Key objectives include completing centers of excellence programs for footprint optimization, manufacturing excellence through automation, and margin improvement. 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