NYSE$MIR
Mirion Technologies Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Mirion's financial performance remained steady with revenue growth and strong Adjusted EBITDA margin expansion.
Mirion announced Q2 2024 financial results with a 5.0% increase in revenues to $207.1 million compared to the same period in 2023. The company reported a net loss of $12.0 million, improved from a net loss of $28.4 million in the previous year. Adjusted EBITDA increased by 10.2% to $48.8 million. The company raised its full year adjusted EBITDA guidance to $195 million to $205 million and reiterated its revenue growth guidance of 5% to 7% and adjusted EPS guidance of $0.37-$0.42.
- Revenues increased by 5.0% to $207.1 million compared to $197.2 million in the same period last year.
- Net loss improved to $12.0 million compared to a net loss of $28.4 million in the same period last year.
- Adjusted EBITDA increased by 10.2% to $48.8 million compared to $44.3 million in the same period last year.
- The company signed a strategic nuclear new build partnership agreement with EDF.
Headline financials
Revenue & EPS history
Mirion · Revenue · Quarterly
$207M
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 is updating its guidance for the fiscal year and 12-month period ending December 31, 2024.
Tailwinds
- Revenue growth of 5% - 7%, which is unchanged
- Organic revenue growth of 4% - 6%, which is unchanged
- Medical LSD+ organic growth, compared to MSD previously
- Technologies MSD+ organic growth, compared to MSD previously
- Adjusted EBITDA of $195 million - $205 million, increased from $193 million - $203 million previously
Headwinds
- Inorganic revenue growth of approximately 1.5%, primarily as a result of the ec2 acquisition
- Expected closure of lasers business expected to negatively impact organic revenue growth by approximately 30 basis points
- Adjusted EPS of $0.37 - $0.42, which is unchanged
- Adjusted free cash flow of $65 million - $85 million, which is unchanged
- Effective tax rate between 27% and 29%
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 2024
+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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