Radiation safety company Mirion (NYSE: MIR) will be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Mirion missed analysts’ revenue expectations last quarter, reporting revenues of $266.8 million, up 19.7% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ full-year EPS guidance estimates.
Is Mirion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Mirion’s revenue to grow 23.2% year on year, improving from the 7.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Mirion has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Mirion’s peers in the tech hardware & electronics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 37.7%, beating analysts’ expectations by 13.5%, and Knowles reported revenues up 20.3%, topping estimates by 6.9%. TD SYNNEX traded down 8.6% following the results while Knowles was also down 3.6%.
Read our full analysis of TD SYNNEX’s results here and Knowles’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 3.7% on average over the last month. Mirion is up 6.4% during the same time and is heading into earnings with an average analyst price target of $24 (compared to the current share price of $15.28).
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