Varex Imaging Corporation (VREX)
NASDAQ:VREX
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.2Last Year’s EPS
0.18Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call highlighted solid execution on guidance, margin resilience (non‑GAAP gross margin at the high end), successful debt refinancing and clear technology and industrial pipeline momentum (CT, photon-counting, cargo systems). Offsetting these positives are modest top‑line growth (+1% YoY), a GAAP loss, margin erosion versus the prior year (down ~240 bps), elevated inventory and short‑term working capital pressures. Management provided multi-quarter visibility (annual guidance) and actions (India ramp, pricing/contract renewal levers) that could improve margins over time, but near-term growth and margin recovery remain modest.Company Guidance
Revenue Within Guidance and Continued Demand
Q2 revenue of $216 million came in within guidance; total revenue increased 1% year-over-year, driven by medical (+2%) and industrial (+1%). Medical represented $156M (72% of total) and Industrial $60M (28%).
Strong Non-GAAP Margin and EPS Execution
Non-GAAP gross margin was 34% (at the high end of guidance) and non-GAAP EPS was $0.21, in-line with expectations.
Improved Capital Structure via Debt Refinancing
Completed debt refinancing in the quarter, reducing outstanding debt and annual interest expense; gross debt $351M, cash & marketable securities $88M, net debt ~$263M — supporting greater financial flexibility.
Profitability Metrics and Leverage
Adjusted EBITDA was $27M (12% of sales) for the quarter; trailing 12‑month adjusted EBITDA was $118M and net debt leverage was ~2.2x adjusted EBITDA.
Medical Product Momentum — CT and Photon Counting
CT and radiography exceeded the company’s 5-quarter sales trend; CT remains a key growth driver. Photon-counting technology sales momentum remained strong with active engagement: 2 CT OEMs plus discussions with 8 additional OEMs across modalities.
Industrial Segment Traction and Pipeline
Industrial saw continued demand for tubes, linear accelerators, detectors and cargo security systems; company reported multiple new cargo inspection deals (including mobile systems and car scanners) and expects industrial to be an increasing driver of growth and margin expansion.
Regional Strength in Americas and APAC
Americas grew 13% YoY and APAC grew 8% YoY, providing geographic pockets of strong demand.
Manufacturing Ramp in India Expected to Improve Margins
Detector factory in India completed and ramping (utilization currently low but expected to be materially utilized by year-end); company expects this to convert current gross margin and OpEx headwinds into tailwinds as utilization rises toward ~60–70%.
Forward Guidance and Return to Annual Guidance Practice
Company provided FY26 revenue guidance of $860M–$880M (second half revenue expected to be ~+3% YoY) and non-GAAP EPS guidance of $0.80–$1.00; management resumed providing an annual view citing improved visibility.
VREX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VREX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $11.83 | $9.83 | -16.91% |
Feb 10, 2026 | $14.15 | $13.61 | -3.82% |
Nov 18, 2025 | $11.86 | $10.24 | -13.66% |
Aug 07, 2025 | $7.81 | $9.48 | +21.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Varex Imaging Corporation (VREX) report earnings?
Varex Imaging Corporation (VREX) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Varex Imaging Corporation (VREX) earnings time?
Varex Imaging Corporation (VREX) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VREX EPS forecast?
VREX EPS forecast for the fiscal quarter 2026 (Q3) is 0.2.