Mirion Q2 2022 Earnings Report
Key Takeaways
Mirion Technologies reported a decrease in revenue for the second quarter of 2022, along with a net loss. However, the company confirmed its full year guidance, citing strong order inflow during the first half of the year.
Revenues for the second quarter decreased 2.3% to $175.8 million, compared to $180.0 million in the same period in 2021.
GAAP Net loss was $59.3 million in the second quarter, compared to a net loss of $54.0 million in the same period last year.
Adjusted EBITDA was $42.6 million for the quarter, a 14.6% decrease from $49.9 million in the same period last year.
GAAP net loss per share for the second quarter was $0.32. Adjusted earnings per share for the same period was $0.13.
Mirion
Mirion
Forward Guidance
Mirion confirmed its guidance for the fiscal year and 12-month period ending December 31, 2022, with organic adjusted revenue growth of 4% - 6%, adjusted EBITDA of $170 million - $180 million, adjusted EPS of $0.44 - $0.49, and adjusted free cash flow of $75 million - $95 million.
Positive Outlook
- Organic adjusted revenue growth of 4% - 6%
- Adjusted EBITDA of $170 million - $180 million
- Adjusted EPS of $0.44 - $0.49
- Adjusted free cash flow of $75 million - $95 million