Mirion, a radiation technology company listed on the New York Stock Exchange under the ticker symbol MIR, is set to announce its earnings report tomorrow after the market closes. Investors are eagerly awaiting this update to gain insights into the company’s financial performance.
In the previous quarter, Mirion fell short of analysts’ revenue expectations by 1.7%, reporting revenues of $207.1 million, which represented a 5% increase compared to the same period last year. However, the company managed to surpass analysts’ estimates for EBITDA, indicating a mixed quarter overall. This raises the question for investors: should they consider buying or selling Mirion’s stock before the earnings release?
For the upcoming quarter, analysts are forecasting a 6.5% year-on-year revenue growth for Mirion, expecting revenues to reach $203.7 million. This growth rate is notably slower than the 18.8% increase recorded in the corresponding quarter of the previous year. Additionally, adjusted earnings per share are projected to be $0.09.
Analysts who cover Mirion have mostly maintained their estimates in the past month, indicating confidence in the company’s performance leading up to the earnings announcement. It is worth noting that Mirion has only missed Wall Street’s revenue estimates once in the last two years, typically exceeding expectations by an average of 3.1%.
To provide further context, some of Mirion’s peers in the electrical equipment sector have already released their Q3 results. Teledyne enjoyed a 2.9% year-on-year revenue growth, surpassing analysts’ forecasts by 1.9%, while Badger Meter reported an 11.9% increase in revenues, falling slightly short of expectations by 1.8%. Following these announcements, Teledyne’s stock price rose by 6.8%, whereas Badger Meter’s stock experienced a 5.4% decline.
Investors in the electrical equipment sector have generally shown stability in the lead-up to earnings releases, with average share prices decreasing by 1.1% over the past month. Mirion, on the other hand, has seen a significant increase of 24.6% during the same period, with the average analyst price target set at $14, slightly above the current share price of $13.79.
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StockStory is committed to providing individual investors with valuable insights to help them make informed decisions and potentially outperform the market. Stay tuned for Mirion’s earnings report to gain a better understanding of the company’s financial health and strategic direction.