What Happened?
Shares of speciality material and gas containment company Luxfer (NYSE:LXFR) jumped 16.5% in the afternoon session after the company reported a "beat and raise" quarter. Third-quarter earnings blew past analysts' revenue, EBITDA, and EPS expectations. The results benefited from improved pricing and volume, with some customers fast-tracking their orders from the fourth quarter due to concerns about hurricanes and port strikes. Moving on, the company raised full-year EPS and EBITDA guidance. Zooming out, we think this was a solid quarter.
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What The Market Is Telling Us
Luxfer’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. But moves this big are rare even for Luxfer and indicate this news significantly impacted the market’s perception of the business.
Luxfer is up 69.9% since the beginning of the year, and at $15.10 per share, has set a new 52-week high. Investors who bought $1,000 worth of Luxfer’s shares 5 years ago would now be looking at an investment worth $883.56.
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