At the Australian Open in December 1977, Lloyd became the first British male tennis player in the Open era to reach a Grand Slam singles final. He lost in five sets to America's Vitas Gerulaitis 6–3, 7–6, 5–7, 3–6, 6–2. No other British player reached a Grand Slam final for 20 years, until British-Canadian Greg Rusedski reached the US Open final in 1997. In 1984 he reached the quarter-finals of the US Open. Lloyd never progressed beyond the third round in singles play at Wimbledon.