Luxfer Holdings PLC Files 2023 Annual Report on Form 10-K

TL;DR

<b>Luxfer Holdings PLC has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

LUXFER HOLDINGS PLC (LXFR) filed a Annual Report (10-K) with the SEC on February 27, 2024. Luxfer Holdings PLC filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is in Industrial Inorganic Chemicals. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Luxfer Holdings PLC is incorporated in X0 with its principal executive offices located in Manchester, UK.

Why It Matters

For investors and stakeholders tracking LUXFER HOLDINGS PLC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Luxfer's financial health, operational performance, and strategic positioning for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and risk factors outlined in the report are essential for stakeholders to understand the company's exposure to market, operational, and financial risks, as well as its compliance with regulatory requirements.

Risk Assessment

Risk Level: medium — LUXFER HOLDINGS PLC shows moderate risk based on this filing. The company operates in the Industrial Inorganic Chemicals sector, which can be subject to market volatility and regulatory changes, as indicated by its SIC code and the nature of the filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Luxfer's performance and potential challenges in the industrial chemicals market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting Period)
• 2024-02-27 — Filing Date (Date of Submission)
• 2810 — SIC Code (Industrial Classification)

Key Players & Entities

• LUXFER HOLDINGS PLC (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-02-27 (date) — Filing Date
• 0001096056-24-000011 (filing_id) — Accession Number
• 44161300-0600 (phone) — Business Phone
• M27 8LN (address) — Business Address Zip Code

FAQ

Industry Context

Luxfer Holdings PLC operates within the Industrial Inorganic Chemicals sector, a segment characterized by the production and distribution of chemical products used in various industrial applications.

Regulatory Implications

As a publicly traded company, Luxfer Holdings PLC is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Review the detailed financial statements for the fiscal years 2023, 2022, and 2021 to understand revenue trends and profitability.
2. Analyze the risk factors section to identify potential challenges and their impact on the company's operations and financial performance.
3. Examine any disclosed executive compensation details to understand management incentives and alignment with shareholder interests.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $405.0 million — t sales from continuing operations were $405.0 million (2022: $423.4 million, 2021: $374.1 mil
• $423.4 m — g operations were $405.0 million (2022: $423.4 million, 2021: $374.1 million), and our n
• $374.1 million — .0 million (2022: $423.4 million, 2021: $374.1 million), and our net loss from continuing oper
• $2.6 million — net loss from continuing operations was $2.6 million (2022: $32.0 million income, 2021: $30.
• $32.0 million — uing operations was $2.6 million (2022: $32.0 million income, 2021: $30.0 million income). L
• $30.0 million — lion (2022: $32.0 million income, 2021: $30.0 million income). Luxfer operates in three busi

Filing Documents

• lxfr-20231231.htm (10-K) — 2755KB
• a2112023.htm (EX-21.1) — 5KB
• a231consent2023.htm (EX-23.1) — 2KB
• a3112023.htm (EX-31.1) — 11KB
• a3122023.htm (EX-31.2) — 11KB
• a3212023.htm (EX-32.1) — 4KB
• a3222023.htm (EX-32.2) — 4KB
• a230906-insidertradingan.htm (EX-99.1) — 32KB
• a231115-executivecompens.htm (EX-99.2) — 21KB
• a230906-insidertradingan001.jpg (GRAPHIC) — 95KB
• a230906-insidertradingan002.jpg (GRAPHIC) — 290KB
• a230906-insidertradingan003.jpg (GRAPHIC) — 285KB
• a230906-insidertradingan004.jpg (GRAPHIC) — 313KB
• a230906-insidertradingan005.jpg (GRAPHIC) — 299KB
• a230906-insidertradingan006.jpg (GRAPHIC) — 323KB
• a230906-insidertradingan007.jpg (GRAPHIC) — 322KB
• a230906-insidertradingan008.jpg (GRAPHIC) — 229KB
• a230906-insidertradingan009.jpg (GRAPHIC) — 173KB
• a231115-executivecompens001.jpg (GRAPHIC) — 96KB
• a231115-executivecompens002.jpg (GRAPHIC) — 307KB
• a231115-executivecompens003.jpg (GRAPHIC) — 332KB
• a231115-executivecompens004.jpg (GRAPHIC) — 353KB
• a231115-executivecompens005.jpg (GRAPHIC) — 248KB
• a231115-executivecompens006.jpg (GRAPHIC) — 135KB
• lxfr-20231231_g1.jpg (GRAPHIC) — 118KB
• 0001096056-24-000011.txt (&nbsp;) — 21298KB
• lxfr-20231231.xsd (EX-101.SCH) — 87KB
• lxfr-20231231_cal.xml (EX-101.CAL) — 153KB
• lxfr-20231231_def.xml (EX-101.DEF) — 549KB
• lxfr-20231231_lab.xml (EX-101.LAB) — 1165KB
• lxfr-20231231_pre.xml (EX-101.PRE) — 870KB
• lxfr-20231231_htm.xml (XML) — 3021KB

Risk Factors 10

Item 1A. Risk Factors 10

Unresolved Staff Comments 25

Item 1B. Unresolved Staff Comments 25

Cybersecurity 25

Item 1C. Cybersecurity 25

Properties 27

Item 2. Properties 27

Legal Proceedings 27

Item 3. Legal Proceedings 27

Mine Safety Disclosures 27

Item 4. Mine Safety Disclosures 27 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

[Reserved] 29

Item 6. [Reserved] 29

Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk 45

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 45

Financial Statements and Supplementary Data 47

Item 8. Financial Statements and Supplementary Data 47

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 94

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 94

Controls and Procedures 94

Item 9A. Controls and Procedures 94

Other Information 95

Item 9B. Other Information 95

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 95

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 95 PART III

Directors, Executive Officers and Corporate Governance 96

Item 10. Directors, Executive Officers and Corporate Governance 96

Executive Compensation 96

Item 11. Executive Compensation 96

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 96

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 96

Certain Relationships and Related Transactions, and Director Independence 96

Item 13. Certain Relationships and Related Transactions, and Director Independence 96

Principal Accountant Fees and Services 96

Item 14. Principal Accountant Fees and Services 96 PART IV

Exhibits and Financial Statement Schedules 97

Item 15. Exhibits and Financial Statement Schedules 97

Form 10-K Summary 98

Item 16. Form 10-K Summary 98 Signatures 99 PART I

Business

Item 1. Business Background and business overview Luxfer Holdings PLC ("Luxfer," "the Company," "we," "our") is a global industrial company innovating niche applications in materials engineering. Luxfer focuses on value creation by using its broad array of technical know-how and proprietary technologies to help create a safe, clean and energy-efficient world. Luxfer's high-performance materials, components and high-pressure gas containment devices are used in defense, first response and healthcare, transportation and general industrial applications. We focus primarily on product lines related to magnesium alloys, zirconium chemicals and carbon composites. We have a long history of innovation derived from our strong technical expertise, and we work closely with customers to apply solutions to their most demanding product needs. Our proprietary technologies and technical expertise, coupled with strong customer service and global presence, provide competitive advantages and have established us as leaders in the global markets we serve. We believe that we have leading positions in key product areas, including magnesium alloys and powders for aerospace, military, and commercial applications, zirconium chemicals for automotive catalytic converters and industrial catalysis, high-pressure composite cylinders for self-contained breathing apparatus, as well as transport and storage of compressed natural gas ("CNG") and hydrogen, photo-engraving plates, and a wide variety of other uses. We have a global presence, operating 12 manufacturing plants in the U.S., the U.K., Canada and China, one of which relates to discontinued operations, and we also have a joint venture in Japan. We employ approximately 1,400 people, including temporary staff, of which fewer than 50 support our discontinued operations. In 2023, our net sales from continuing operations were $405.0 million (2022: $423.4 million, 2021: $374.1 million), and our net loss from continuing operations was $2.6 milli

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View this 10-K filing on SEC EDGAR