Shares of Mirion Technologies Inc (MIR) plummeted nearly 10% on Tuesday after the company reported mixed results for the third quarter ended September 30, 2024. While Mirion's revenue beat analysts' estimates, the company missed earnings expectations and reported a significant quarterly net loss, disappointing investors.

For the quarter, Mirion reported adjusted earnings per share (EPS) of $0.08, missing the consensus analyst estimate of $0.09 per share. The company's revenue rose 8.2% year-over-year to $206.8 million, surpassing the Wall Street expectation of $203.67 million. However, Mirion's reported EPS for the quarter was a loss of $0.07, and the company posted a net loss of $13.6 million.

Despite the revenue growth, Mirion's profitability struggles appear to have spooked investors, leading to the sharp sell-off in the stock. Prior to the earnings release, Mirion shares had gained 28.4% in the quarter and 38.6% year-to-date, reflecting optimism about the company's performance. However, the disappointing earnings results and reported quarterly loss have raised concerns among investors about Mirion's ability to generate consistent profits.