Luxfer Holdings PLC (NYSE:LXFR) Q4 2023 Earnings Conference Call February 28, 2024 8:30 AM ET

Company Participants

Kevin Grant - Vice President, Investor Relations and Business Development

Andy Butcher - Chief Executive Officer

Steve Webster - Chief Financial Officer

Conference Call Participants

Steve Ferazani - Sidoti

Operator

Good morning. My name is Todd, and I will be your conference operator today. Welcome to Luxfer's Fourth Quarter 2023 Earnings Conference Call. All lines have been placed on mute. After the speakers' prepared remarks, we will hold a question-and-answer session.

Now I will turn the call over to Kevin Grant, Vice President of Investor Relations and Business Development at Luxfer. Kevin, please go ahead.

Kevin Grant

Thank you, Todd, and good morning, everyone. Welcome to Luxfer's Fourth Quarter 2023 Earnings Conference Call. This morning, we'll be reviewing Luxfer's financial results for the fourth quarter ended December 31st, 2023.

I'm pleased to be joined today by Andy Butcher, our Chief Executive Officer; and Steve Webster, Chief Financial Officer. Today's webcast is accomplished 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 result of new information, future events or otherwise.

Please refer to the Safe Harbor statement on Slide 2 of today's presentation for further details. During today's call, we will be providing adjusted fourth quarter and full year 2023 financial results that exclude Graphic Arts based on our strategic review decision to divest that business.

Now let me introduce Luxfer's CEO, Andy Butcher. Please turn to Slide 3. Andy, please go ahead.

Andy Butcher

Thank you, Kevin, and good morning, everyone. Thank you for joining us. I would like to begin by acknowledging the dedication of the Luxfer team as they served our customers and focused with an optimized lens on all aspects of our operations. They delivered solid and improved results against the backdrop of challenging market conditions as well as the added demand of our strategic review process, I am very grateful for their commitment.

Today, we will provide details on our 2023 fourth quarter and full year financial performance. Additionally, we will share important positive information on our self-help actions including new SCBA agreements, go-forward insurance coverage for our elevated legal expenses and some lower upcoming costs for magnesium. We will also provide an update on the initial decisions from our strategic review and lastly provide our 2024 guidance. We have a lot to cover today, so let's get started.