Mirion Q1 2023 Earnings Report
Key Takeaways
Mirion Technologies reported an 11.6% increase in revenue for the first quarter of 2023, reaching $182.1 million. The company reaffirmed its full-year 2023 guidance, expecting revenue growth of 6% to 9%, adjusted EBITDA of $172 million to $182 million, and adjusted EPS of $0.28-$0.34.
Revenues for the first quarter increased 11.6% to $182.1 million, compared to $163.2 million in the same period in 2022.
Net loss was $42.9 million in the first quarter, compared to a net loss of $19.0 million in the same period last year.
Adjusted EBITDA was $36.6 million, a 4.9% increase from $34.9 million in the same period last year.
GAAP net loss per share for the first quarter was $0.22, compared to $0.10 in the first quarter of 2022. Adjusted earnings per share for the quarter was $0.06, compared to $0.10 in the same period last year.
Mirion
Mirion
Forward Guidance
Mirion reaffirmed its guidance for the fiscal year and 12-month period ending December 31, 2023.
Positive Outlook
- Reported revenue growth of 6% - 9%
- Organic revenue growth of 4% - 7%
- Adjusted EBITDA of $172 million - $182 million
- Adjusted EPS of $0.28 - $0.34
- Adjusted free cash flow of $58 million - $78 million