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Sep 30, 2024
Mirion Q3 2024 Earnings Report
Mirion's financial performance was in line with expectations, demonstrating revenue growth and margin expansion.
Key Takeaways
Mirion announced its Q3 2024 financial results, with revenues increasing by 8.2% to $206.8 million compared to the same period in 2023. The company reported a net loss of $14.0 million, and an adjusted EBITDA of $45.7 million, which is an increase of 17.8%. The company also updated its full-year 2024 guidance.
Revenues for the third quarter increased 8.2% to $206.8 million.
Net loss was $14.0 million in the third quarter.
Adjusted EBITDA was $45.7 million, a 17.8% increase from the same period last year.
The company updated its full year 2024 guidance, expecting revenue growth of 6% to 7%.
Revenue by Segment
Forward Guidance
Mirion updated its full year 2024 guidance.
Positive Outlook
- Total and organic revenue growth rates now expected to be 6% to 7% and 5% to 6%, respectively.
- Maintaining adjusted EBITDA range of between $195 to $205 million.
- Maintaining adjusted EPS range of between $0.37 to $0.42 per share.
- Medical LSD organic growth, compared to LSD+ previously
- Technologies MSD+ organic growth, which is unchanged
Challenges Ahead
- Adjusted free cash flow range tightened to $65 to $75 million, compared to $65 million to $85 million previously.
- Closure of lasers business expected to negatively impact organic revenue growth by approximately 30 basis points
- Depreciation of approximately $34 million for the year
- Net interest expense of approximately $52 million (approximately $50 million of cash interest)
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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