Why Engineered Advanced Materials Producer Luxfer Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
Luxfer Holdings PLC (NYSE:LXFR) shares dropped by around 15% following the company's Q3 FY23 preliminary results. The company expects Q3 net sales of $97 million and adjusted earnings per share of about $0.04, both lower than the street view. The company attributes the lower performance to macroeconomic challenges and supply chain disruptions. LXFR is planning a turnaround strategy, including a headcount reduction program. The company's full-year 2023 results are expected to be significantly lower than previous guidance.
October 11, 2023 | 2:26 pm
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NEGATIVE IMPACT
Luxfer Holdings' shares dropped due to lower than expected Q3 FY23 preliminary results. The company is facing macroeconomic challenges and supply chain disruptions, which are impacting its performance.
Luxfer Holdings' shares dropped due to lower than expected Q3 FY23 preliminary results. The company is facing macroeconomic challenges and supply chain disruptions, which are impacting its performance. This news is highly relevant to LXFR as it directly pertains to the company's financial performance and outlook. The importance is high as this could significantly impact the company's stock price. The confidence in this analysis is high as the information is directly stated in the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100