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Jan 02
Varex Imaging Q1 2026 Earnings Report
Varex Imaging reported higher year-over-year revenue and improved profitability in the first quarter of fiscal 2026, driven by strength in the Industrial segment.
Key Takeaways
Varex delivered Q1 FY2026 revenue of 209600000 dollars, up 5% year over year, with operating income of 15400000 dollars and net income attributable to Varex of 2300000 dollars, reflecting improved operating leverage and growth in Industrial revenue.
Total revenue increased 5% year over year to 209600000 dollars.
Industrial segment revenue grew 17% year over year to 64800000 dollars.
GAAP operating income rose to 15400000 dollars with a 7.3% margin.
Non-GAAP diluted EPS increased to 0.19 dollars from 0.10 dollars a year ago.
Revenue by Segment
Forward Guidance
For Q2 FY2026, Varex expects revenue between 210000000 and 225000000 dollars and non-GAAP diluted EPS between 0.15 and 0.25 dollars.
Positive Outlook
- Revenue guidance range of 210000000 to 225000000 dollars for Q2.
- Non-GAAP EPS guidance range of 0.15 to 0.25 dollars.
- Strong demand expected for CT products.
- Continued momentum in cargo security systems business.
- Industrial segment growth trends remain favorable.
Challenges Ahead
- Cash outflow from operations of 16000000 dollars in Q1.
- Non-GAAP gross margin declined year over year.
- Exposure to supply chain disruptions.
- Potential variability from equity-method investments.
- Ongoing macroeconomic and trade policy risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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