NYSE$MIR
Mirion Technologies Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Mirion's financial performance was strong, marked by revenue growth and backlog expansion.
Mirion announced strong second quarter results with a 12.2% increase in revenues to $197.2 million. The company updated its full year 2023 guidance, expecting revenue growth of 8% to 10% and adjusted EBITDA of $175 million to $185 million.
- Revenues for the second quarter increased 12.2% to $197.2 million, compared to $175.8 million in the same period last year.
- Net loss was $28.4 million in the second quarter, compared to a net loss of 59.3 million in the same period last year.
- Adjusted EBITDA was $44.3 million, a 4.0% increase from $42.6 million in the same period last year.
- Net loss per share for the second quarter was $0.14, compared to $0.32 in the second quarter of 2022. Adjusted earnings per share for the quarter was $0.08, compared to $0.13 in the same period last year.
Headline financials
Revenue & EPS history
Mirion · Revenue · Quarterly
$197M
Revenue by segment
Mirion · $191M total across 2 segments · Q3 2023
- Product Revenue$143M+121776159.6%74.6%
- Service Revenue$48.6M+110958804.1%25.4%
Forward guidance
Mirion updated its guidance for the fiscal year ending December 31, 2023, expecting revenue growth of 8% - 10%, adjusted EBITDA of $175 million - $185 million, and adjusted EPS of $0.28 - $0.34.
Tailwinds
- Revenue growth of 8% - 10%, compared to 6% - 9% previously
- Organic revenue growth of 6% - 8%, compared to 4% - 7% previously
- Adjusted EBITDA of $175 million - $185 million, compared to $172 million - $182 million previously
- Adjusted EPS of $0.28 - $0.34, which is unchanged
- Euro to U.S. Dollar foreign exchange conversion rate of 1.09
Headwinds
- Adjusted free cash flow of $45 million - $75 million, compared to $58 million - $78 million previously
- Net interest expense of approximately $60 million (approximately $55 million of cash interest)
- Approximately 199 million shares of Class A common stock outstanding
- Inorganic revenue growth is expected to be approximately 1.0%, including benefits from the SIS acquisition, offset by the Biodex rehab divestiture, which closed early in the second quarter.
- Foreign exchange rates are expected to result in a positive 0.5% impact to revenue growth.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.6%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.2%
Avg return
30 days after
55%
11 / 20 earnings
Positive
+18.3%
Q3 2025
Best reaction
-11.0%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | +8.0% | -2.2% | |
| Q4 2025 | -10.2% | -4.0% | -20.3% | |
| Q3 2025 | +18.3% | +16.8% | +3.3% | |
| Q1 2025 | +1.4% | +2.1% | +22.3% | |
| Q4 2024 | +1.1% | +0.8% | -10.6% | |
| Q3 2024 | +4.7% | +3.1% | +14.6% | |
| Q2 2024 | -4.4% | -7.0% | +2.8% | |
| Q1 2024 | -7.4% | -9.4% | -1.3% | |
| Q4 2023 | +0.8% | +0.5% | -0.2% | |
| Q3 2023 | -2.5% | +19.6% | +28.3% | |
| Q2 2023 | +5.3% | +6.0% | +13.4% | |
| Q1 2023 | +4.5% | +4.0% | +1.1% | |
| Q4 2022 | +8.1% | +4.9% | -15.1% | |
| Q3 2022 | -5.1% | -25.4% | -21.0% | |
| Q2 2022 | +5.8% | +15.1% | +13.5% | |
| Q2 2021 | +5.8% | +15.1% | +13.5% | |
| Q1 2021 | -3.2% | -10.1% | +6.8% | |
| Q4 2021 | -11.0% | -1.7% | -3.1% | |
| Q3 2021 | -0.4% | +1.0% | -2.2% | |
| Q4 2020 | +0.5% | +1.0% | -0.5% | |
| Q2 2020 | — | — | — | |
| Q2 2019 | — | — | — |
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