Luxfer Holdings PLC announced its financial results for the third quarter and year-to-date 2026 in a press release dated October 28, 2026. The company reported a decline in net sales for the third quarter, driven primarily by lower sales within its Elektron segment.
For the third quarter of 2026, GAAP net sales were $91.7 million, a decrease of 4.1% compared to the prior-year period. Adjusted net sales, excluding the Superform business, decreased 3.9% to $89.3 million. The company noted that the decline in sales was primarily due to weakness in the Elektron defense sector, while Gas Cylinders sales remained relatively flat year-over-year.
On a GAAP basis, the company reported net income of $0.9 million, or $0.03 per diluted share, compared to $2.7 million, or $0.10 per diluted share, in the prior year. Adjusted diluted earnings per share (EPS) were $0.25, down 16.7% from $0.30 in the prior year. Adjusted EBITDA for the quarter was $12.2 million, a decrease of 10.3% from $13.6 million in the prior year.
Despite the sales decline, the company reported free cash flow of $12.4 million for the quarter, with net debt declining to $37.8 million. The company received $10.4 million in proceeds from a UK pension surplus refund, net of a $3.5 million tax payment, which contributed to the free cash flow. Year-to-date, the company has returned approximately $10.3 million to shareholders through dividends and repurchased approximately $1.4 million of ordinary shares.
In a separate update, Luxfer confirmed that it entered into a definitive agreement in July 2026 to be acquired by affiliates of Wynnchurch Capital, L.P. in an all-cash transaction valued at $17.37 per ordinary share. The transaction remains subject to shareholder approval, with a vote scheduled for November 4, 2026. Due to the pending transaction, the company will not host a third quarter 2026 earnings conference call.
