Despite uneven supply chains conditions, Andy Butcher, CEO of Luxfer Holdings, said the manufacturer maneuvered successfully to deliver for its customers in the second quarter (Q2) 2022.
The company on Tuesday (26th July) released its Q2 financials, which highlighted net sales of $109.5m, an increase of $105m from the prior year, including a $13m benefit from cost pass-through to cover rising material inflation and a $1.3m positive contribute from volume.
GAAP net income from continuing operations decreased to $9.6m, of $0.25 per diluted share, compared to $11.9m, or $0.42 per diluted share, in the prior year person.
Luxfer also reported adjusted net income of $10.1m, or $0.36 per diluted share, for the quarter and adjusted EBITDA of $16.9m, down 2.3% from the prior year. These figures reflect supply chain constraints and inflationary pressures that impacted costs.
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