Mirion reports Q1 adjusted EPS 10c, consensus 8c

Reports Q1 revenue $202M, consensus $200.71M. “We delivered a strong start to the year, with year-over-year revenue growth and adjusted free cash flow generation,” commented Mirion’s (MIR) Chairman and Chief Executive Officer Thomas Logan. “Additionally, order entry accelerated, driven by strong demand from the nuclear power end-market. We continue to be bullish on the year, notwithstanding the impact of new prevailing tariffs and U.S. government funding reductions. Both of our operating segments grew first quarter revenue compared to the prior year. This supported Adjusted EBITDA margin expansion, reflecting both operating leverage and procurement savings in the quarter. First quarter total orders marked an 11.5% year-over-year improvement to $203 million. Importantly, this does not include any of the potential $300 to $400 million large, one-time orders currently in the bidding process. This performance reflects the net favorable macro factors supporting growth in our business.”