Earnings To Watch: Mirion (MIR) Reports Q2 Results Tomorrow
Radiation safety company Mirion (NYSE:MIR) will be announcing earnings results this Tuesday afternoon. Here’s what to expect.
Mirion beat analysts’ revenue expectations last quarter, reporting revenues of $257.6 million, up 27.5% year on year. It was a satisfactory quarter for the company, with EPS in line with analysts’ estimates but a significant miss of analysts’ full-year EPS guidance estimates.
Is Mirion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Mirion’s revenue to grow 21% year on year, improving from the 7.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Mirion has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Mirion’s peers in the tech hardware & electronics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 31%, beating analysts’ expectations by 16.6%, and Knowles reported revenues up 14.3%, topping estimates by 6.3%. Knowles traded down 3.6% following the results.
Read our full analysis of TD SYNNEX’s results here and Knowles’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Mirion is down 4.6% during the same time and is heading into earnings with an average analyst price target of $27.40 (compared to the current share price of $16.54).
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