UK's Luxfer to be acquired by Wynnchurch
UK's Luxfer to be acquired by Wynnchurch
Overview
UK materials engineering firm's Q2 sales and adjusted EPS declined yr/yr
Adjusted EBITDA for Q2 fell 4.3% from prior year
Company to be acquired by Wynnchurch Capital for $17.37 per share in cash
Outlook
Company did not provide specific guidance due to pending acquisition
Result Drivers
MARGIN IMPROVEMENT - Adjusted gross margin increased 130bps to 25.2% despite lower sales
Company press release: ID:nBw1s9YMga
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Beat | $95.70 mln | $90.30 mln (1 Analyst) |
Q2 Adjusted EPS | Beat | $0.29 | $0.28 (1 Analyst) |
Q2 Adjusted EBITDA | Beat | $13.40 mln | $12.70 mln (1 Analyst) |
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Luxfer Holdings PLC is $19.50, about 13.9% above its July 27 closing price of $17.12
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
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July 27 - Ireland's DCC Energy to go private in $7.7 billion deal with KKR, Energy Capital
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Luxfer Holdings
See all newsLuxfer Holdings PLC reports results for the quarter ended September 30 - Earnings Summary
Brief: Luxfer Reports Third Quarter Results
Luxfer Q3 results miss on soft end-market demand, competitive pressures
Brief: Luxfer Q3 Sales USD 91.7 Million
Luxfer Holdings PLC expected to post earnings of 28 cents a share - Earnings Preview