Mirion Earnings: What To Look For From MIR

StockStory
28 Oct 2024
Mirion Earnings: What To Look For From MIR

Radiation technology company Mirion (NYSE:MIR) will be reporting earnings tomorrow after market close. Here’s what to look for.

Mirion missed analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $207.1 million, up 5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is Mirion a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Mirion’s revenue to grow 6.5% year on year to $203.7 million, slowing from the 18.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mirion has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.1% on average.

Looking at Mirion’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 2.9%, beating analysts’ expectations by 1.9%, and Badger Meter reported revenues up 11.9%, falling short of estimates by 1.8%. Teledyne traded up 6.8% following the results while Badger Meter was down 5.4%.

Read our full analysis of Teledyne’s results here and Badger Meter’s results here.

Investors in the electrical equipment segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Mirion is up 24.6% during the same time and is heading into earnings with an average analyst price target of $14 (compared to the current share price of $13.79).

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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