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Apr 03, 2020
Varex Imaging Q2 2020 Earnings Report
Announced financial results for the second quarter of fiscal year 2020.
Key Takeaways
Varex Imaging Corporation reported Q2 2020 revenues of $197 million, a slight increase from the prior year. The company experienced a shift in mix between business segments, impacting overall margins. Net loss was ($0.05) per diluted share, while adjusted net earnings were $0.12 per diluted share.
2Q20 Revenues were $197 million.
2Q20 Gross margin was 29%, adjusted gross margin was 32%.
2Q20 Operating earnings margin was 1%, adjusted operating earnings margin was 5%.
2Q20 Net earnings were ($0.05) per diluted share, adjusted net earnings were $0.12 per diluted share.
Revenue by Segment
Forward Guidance
Due to the unprecedented nature of the COVID-19 pandemic and its impact on the global economy, Varex Imaging Corporation has withdrawn its previously issued guidance for fiscal year 2020. The company expects the uncertainty to continue for at least the remainder of the current fiscal year.
Challenges Ahead
- Significant uncertainty in demand for certain products for medical and industrial applications.
- Increased variability in its supply chain
- Increased variability in manufacturing productivity.
- Unpredictability of when and how strong a global economic recovery may be.
- Implementing actions to reduce its expenses and cash disbursements
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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