NYSE$MIR
Mirion Technologies Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Mirion Technologies announced $150 million investment from T. Rowe Price and updated its adjusted free cash flow guidance for 2023.
Mirion Technologies announced a $150 million investment from T. Rowe Price, with plans to use approximately $125 million to pay down debt. As a result, Mirion is increasing its Adjusted Free Cash Flow guidance for 2023 to a range of $58 million – $78 million.
- T. Rowe Price Investment Management invested $150 million in Mirion to acquire 17,142,857 shares of Mirion common stock at $8.75 per share.
- Mirion intends to use approximately $125 million to pay down debt, targeting a net leverage ratio of ~3.1x by the end of 2023.
- The investment from T. Rowe Price and related debt repayment led to an increase in Adjusted Free Cash Flow guidance for 2023 to a range of $58 million – $78 million.
- Mirion expects net interest expense of approximately $60 million ($56 million of cash interest) and approximately 197 million shares of Class A common stock outstanding.
Headline financials
Revenue & EPS history
Mirion · Revenue · Quarterly
$218M
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 adjusted free cash flow guidance for 2023 to a range of $58 million - $78 million due to the investment from T. Rowe Price and the related repayment of indebtedness.
Tailwinds
- Adjusted free cash flow guidance increased to $58 million - $78 million for 2023.
- Debt reduction expected to improve net leverage ratio to approximately 3.1x by the end of 2023.
- Strategic investment strengthens the balance sheet.
- Lower interest expense expected due to debt repayment.
- Remaining funds to be used for organic and inorganic growth opportunities.
Headwinds
- Guidance contains forward-looking statements, and actual results may differ materially.
- Guidance excludes reconciliations of forward-looking non-GAAP measures due to inherent difficulties in projecting adjusting items.
- Net interest expense is expected to be approximately $60 million (approximately $56 million of cash interest).
- Approximately 197 million shares of Class A common stock outstanding, excluding Class B shares, warrants, and profits interests.
- The company is exposed to risks related to changes in domestic and foreign business, market, economic, financial, political and legal conditions.
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 Q4 2022
+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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