Radiation safety company Mirion (NYSE:MIR) will be announcing earnings results this Tuesday after market hours. Here’s what to expect.
Mirion beat analysts’ revenue expectations by 3.1% last quarter, reporting revenues of $222.9 million, up 7.6% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ revenue estimates and EPS in line with analysts’ estimates.
Is Mirion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Mirion’s revenue to grow 7.4% year on year to $222.2 million, in line with the 8.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 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 a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 1.9% on average.
Looking at Mirion’s peers in the tech hardware & electronics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 53.4%, beating analysts’ expectations by 10.9%, and TD SYNNEX reported revenues up 6.6%, topping estimates by 3.5%. Amphenol traded up 8.8% following the results while TD SYNNEX was also up 9.5%.
Read our full analysis of Amphenol’s results here and TD SYNNEX’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices flat over the last month. Mirion is up 11.4% during the same time and is heading into earnings with an average analyst price target of $26.29 (compared to the current share price of $25.05).
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