Luxfer Holdings PLC

Good morning. My name is Erica, and I will be your conference operator today. Welcome to the Luxfer Second Quarter 2025 Earnings Conference Call. All lines have been placed on mute. After the speaker's 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.

Thank you, Erica, and good morning, everyone. Welcome to Luxford's second quarter 2025 earnings conference call. This morning, we'll be reviewing Luxford's financial results for the second quarter ended June 29, 2025. I'm pleased to be joined today by Andy Butcher, our Chief Executive Officer, and Steve Webster, our Chief Financial Officer. Today's webcast is accompanied by a presentation that can be accessed at Luxford.com. Please note any references to non-GAAP financials are reconciling 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 obligations 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 two of today's presentation for further details. During today's call, we'll be providing adjusted second quarter 2025 financial results, excluding the recently sold graphic arts business and the 2024 legal recoveries. Now, let me turn the call over to Luxford's CEO. Please turn to slide three. Andy, please go ahead.

Thank you, Kevin, and good morning, everyone. Thank you for joining us. Q2 was a very strong quarter for Luxford. underscoring the strength of our core businesses, the resilience of our operating model, and our ability to perform well in a dynamic environment. Adjusted earnings per share increased to 30 cents, up 25% year-over-year and 30% sequentially, and adjusted EBITDA rose to $14 million. Sales growth was led by impressive ongoing momentum in our electron segment. Demand for MREs, FLAIRs, and UGRE platforms remained high, supported by defense restocking activity, sustained funding tailwinds, and a buoyant aerospace market. We also saw sequential improvement in gas cylinders. While sales were modestly lower year over year, strong performance in space exploration, aerospace, and first response helped offset ongoing softness in clean energy. which while an important part of our longer term strategy, remains a little subdued in the near term. These shifts in demand reflect well on the adaptability and diversity of our portfolio, as the business continues to transition towards higher value sectors, where we are well positioned to deliver stronger profitability. We completed the divestiture of our graphic arts business in early July, a key deliverable stemming from our strategic portfolio review, This transaction allows us to sharpen our focus towards higher margin opportunities within our core markets. We also initiated an important relocation project in our composite cylinders business, announcing the move of production from our Pomona, California site to our more automated center of excellence in Riverside, California. This is another key step in optimizing our footprint, generating savings of up to $4 million per annum. through enhanced operational alignment. In summary, Q2 demonstrated strong execution, portfolio quality, and the earnings power of our core businesses. With that, I'll hand over to Steve, who will take you through the financials and our updated 2025 guidance. Steve?