Mirion Technologies (MIR) saw its stock plummet 5.15% in after-hours trading on Thursday, despite reporting better-than-expected second-quarter results and raising its full-year guidance. The company, which specializes in nuclear measurement and detection systems, posted Q2 revenue of $222.9 million, surpassing analyst estimates of $216.2 million according to LSEG data.

Mirion's Q2 performance showed signs of strength, with net income reaching $8.5 million and adjusted earnings per share rising to $0.11. The company also raised its 2025 revenue growth guidance to 7%-9% from the previous 5%-7%, and now forecasts adjusted EPS of $0.48-$0.52 per share. CEO Thomas Logan attributed the positive results to favorable market dynamics in nuclear power and cancer care, as well as successful efforts to minimize tariff exposure.

In a separate announcement, Mirion revealed the acquisition of Certrec, a leader in regulatory compliance and advanced digital applications for the nuclear industry, for $81 million plus additional equity incentives. Despite these seemingly positive developments, the after-hours stock plunge suggests that investors may have had even higher expectations or identified concerns not immediately apparent in the earnings report. The market's reaction could also be influenced by factors such as valuation concerns, given that the stock was recently trading at 42 times the next 12-month earnings, up from a P/E of 30 three months ago.