NASDAQ$VREX

Varex Imaging Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported strong revenue growth driven by higher global sales of CT tubes and products for oncology, dental and airport baggage screening applications.

Varex Imaging Corporation announced an 8% increase in revenues for the first quarter of fiscal year 2020, reaching $200 million compared to $186 million in the prior year quarter. The growth was driven by strong sales in CT tubes and products for oncology, dental, and airport baggage screening applications.

  • Revenues for the first quarter of fiscal year 2020 increased 8% to $200 million compared to $186 million in the prior year quarter.
  • Medical segment revenues increased 8% to $156 million.
  • Industrial segment revenues increased 6% to $44 million.
  • Net earnings for the first quarter of fiscal year 2020 were $(0.03) per diluted share compared to $0.08 per diluted share in the prior year quarter.

Headline financials

Total Revenue

$200M

Previous: $186M+7.8%
EPS (adj)

$0.21

Previous: $0.26-19.2%
GAAP Gross Margin

31.0%

Previous: 32.0%-3.1%
GAAP Operating Margin

2.0%

Previous: 6.0%-66.7%
Capital Expenditures

-$8.1M

Previous: -$3.4M-138.2%
Free Cash Flow

-$9.4M

Previous: -$400K-2250.0%
Net Income

-$1.3M

Previous: $3M-143.3%
Operating Income

$4.6M

Previous: $10.4M-55.8%
Gross Profit

$61.1M

Previous: $60M+1.8%
Cash & Equivalents

$30M

Previous: $55.1M-45.6%
Total Assets

$1.07B

Previous: $1B+6.7%
Stock-Based Comp

$3.2M

Previous: $2.6M+23.1%

Revenue & EPS history

Varex Imaging · Revenue · Quarterly

$200M

Q1 2020+7.8%vs Q1 2019
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

Varex Imaging · $200M total across 2 segments · Q1 2020

  • Medical
    $156M+980.0%
  • Industrial
    $44M

Forward guidance

No forward guidance was given in this report.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-4.3%

Avg return

Earnings day

-3.4%

Avg return

5 days after

-3.0%

Avg return

30 days after

37%

15 / 41 earnings

Positive

+22.1%

Q1 2021

Best reaction

-34.7%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-16.9%-14.9%
Q1 2026-3.8%-4.5%-23.6%
Q4 2025-13.7%-7.1%+3.6%
Q2 2025-20.5%-13.9%-2.7%
Q1 2025-19.3%-11.6%-15.7%
Q4 2024+9.2%+17.8%+1.8%
Q3 2024-12.2%-21.2%-15.6%
Q2 2024-6.0%-4.4%-6.8%
Q1 2024-8.4%-8.4%-8.6%
Q4 2023+3.1%+1.7%+12.7%
Q3 2023-3.8%-2.6%-15.5%
Q2 2023+17.6%+25.5%+25.6%
Q1 2023-10.0%-7.2%-14.6%
Q4 2022+3.8%-1.6%-10.7%
Q3 2022+4.1%-0.6%-0.3%
Q2 2022+11.5%+11.5%+15.8%
Q1 2022-5.3%-8.6%-4.8%
Q4 2021+17.1%+15.0%+8.7%
Q3 2021+1.9%+7.3%+10.2%
Q2 2021+2.6%+2.0%+6.1%
Q1 2021+22.1%+19.3%+21.0%
Q4 2020-3.2%+1.0%+16.6%
Q3 2020-21.2%-21.1%-34.3%
Q2 2020-34.7%-32.9%-38.3%
Q1 2020-5.3%-5.3%-25.3%
Q4 2019-9.7%-7.5%-3.5%
Q3 2019-15.8%-13.3%-5.0%
Q2 2019-9.1%-8.1%-16.4%
Q1 2019+15.7%+8.8%+15.0%
Q4 2018-8.3%-1.8%-10.8%
Q3 2018-25.7%-25.5%-17.8%
Q2 2018-1.6%-0.3%+1.1%
Q1 2018-18.5%-15.9%-15.8%
Q4 2015-1.2%-0.2%+7.2%
Q4 2017+1.8%+2.6%+10.3%
Q3 2016+0.8%-0.2%+9.4%
Q3 2017-8.2%-5.1%+1.3%
Q2 2016+0.2%+0.2%-3.3%
Q2 2017+0.7%+1.2%+3.0%
Q1 2017-2.4%-5.1%-0.3%
Q4 2016-2.4%-5.1%-0.3%
Q1 2016

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