Luxfer Holdings PLC (NYSE:LXFR) Q1 2022 Earnings Conference Call April 26, 2022 8:30 AM ET
Company Participants
Michael Gaiden - Vice President of Investor Relations and Business Development
Alok Maskara – Chief Executive Officer
Andrew Butcher – Chief Executive Officer Designate
Steve Webster – Chief Financial Office
Conference Call Participants
Chris Moore – CJS Securities
Craig Irwin – ROTH Capital Partners
Phil Gibbs – KeyBanc Capital
Chip Moore – EF Hutton
Operator
Good morning. My name is Katie and I will be your conference Operator today. Welcome to the Luxfer First Quarter 2022 earnings conference call. All lines have been muted. After the speakers prepared remarks. We will hold a Q&A session. Now, I will turn the call over to Mike Gaiden, Vice President and Investor Relations from Luxfer. Mike, please go ahead.
Michael Gaiden
Welcome everyone to Luxfer first-quarter 2022 earnings call. With me today is Alok Maskara, Luxfer's Chief Executive Officer. Andy Butcher, Luxfer's Chief Executive Officer Designate. And Steve Webster, Luxfer's Chief Financial Officer. On today's call, we will provide details of our first-quarter 2022 performance as detailed in the press release issued yesterday. Today's webcast is accompanied by a presentation that can be accessed at luxfer.com. Please note any references to non-GAAP financials are reconciled in the appendix of the presentation. Before we begin, a friendly reminder that any forward-looking statements made about the Company's expected financial results are subject to future risks and uncertainties. We undertake no obligation to update any forward-looking statements, whether as a a result of new information, future events, or otherwise. Please refer to the Safe Harbor statements on Slide 2 of today's presentation for further details. Now, I will turn the call over to Alok for his summary comments on the quarter after which Steve will provide details of our financial results. Following Steve remarks, Alok will introduce Andy who will discuss Luxfer's outlook for Q&A. Alok, please go ahead.
Alok Maskara
Thank you, Mike, and welcome everyone. Please turn to Slide 3. I am pleased to share with you today details of our solid execution in the first quarter. I want to start by expressing my thanks to the entire Luxfer team, who once again navigated difficult supply chain conditions in the quarter to put our customers first. I also want to express my appreciation to our customers for the collaboration and support amid ongoing labor and material shortages. On this page, I want to highlight three key messages. First, we delivered 14% year-over-year sales growth in the first quarter, driven by an 8% uplift from the SCI acquisition, as well as our success in passing through cost inflation. While raw material availability impacted our volumes and input cost inflation impacted our profitability, Q1 adjusted diluted EPS of $0.33 places us on a strong footing to start the year.