Mirion Technologies Registers 2.3% Revenue Decline In Q2

Mirion Technologies, Inc MIR reported a second-quarter FY22 revenue decline of 2.3% year-on-year to $175.8 million, missing the consensus of $181.12 million. Adjusted revenues decreased 4.3% Y/Y.
Adjusted EBITDA was $42.6 million, down 14.6% Y/Y.
Adjusted EPS of $0.13 beat the consensus of $0.12.
"We were particularly encouraged by the performance of our Medical segment during the quarter and expect to add to the momentum heading into the second half of the year. In the Industrial segment, we faced continued challenges from the supply chain and our revenue mix transition in the face of strengthening demand," stated CEO Thomas Logan. "The strong growth in our orders is a key takeaway from the quarter, which we believe establishes the foundation for near-term and future growth."
Outlook: Mirion confirmed 2022 expectations for adjusted revenue growth of 4% - 6%, adjusted EBITDA of $170 million - $180 million, and adjusted EPS of $0.44 - $0.49 versus the consensus of $0.45.
Price Action: MIR shares closed higher by 3.54% at $6.43 on Thursday.

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