Abstract

Mirion will report fiscal results on February 10, 2026 Post Market; this preview compiles the latest quarter’s financial performance and the current quarter’s consensus forecasts, alongside segment dynamics and institutional commentary to frame the path for revenue, profitability, and adjusted EPS through the near term.

Market Forecast

Consensus for Mirion’s current quarter points to revenue of $279.22 million, an implied year-over-year increase of 13.95%, with EBIT of $44.21 million and EPS of $0.16, suggesting year-over-year EPS growth of 7.92%. Margin expectations are constructive, with focus on sustaining the prior quarter’s gross profit margin trend and stabilizing net profit margin; adjusted EPS is projected at $0.16, up 7.92% year over year. Mirion’s core businesses emphasize recurring demand across diversified end markets and a steady order backlog that underpins near-term revenue conversion and margin resilience. The most promising segment is Industrial, with revenue scale of $144.60 million last quarter and benefiting from broad-based demand; Healthcare remains a complementary growth vector at $78.50 million, supported by a healthy pipeline.

Last Quarter Review

Mirion’s previous quarter delivered revenue of $223.10 million, a gross profit margin of 47.02%, GAAP net profit attributable to shareholders of $2.90 million, a net profit margin of 1.30%, and adjusted EPS of $0.12, with year-over-year adjusted EPS growth of 50.00%. A notable highlight was solid operational leverage, with EBIT of $42.40 million coming in above internal and external expectations. By business line, Industrial generated $144.60 million and Healthcare delivered $78.50 million, reflecting robust performance in core markets and establishing a diversified revenue base with a constructive near-term outlook.

Current Quarter Outlook (with major analytical insights)

Main business trajectory and revenue conversion

Mirion’s revenue for the quarter is projected at $279.22 million, up 13.95% year over year, supported by an order book that continues to convert at healthy cycle times and a balanced mix of end-market exposures. Management’s recent execution indicates that gross margin can maintain a level broadly consistent with the prior quarter’s 47.02% as pricing discipline and product mix remain favorable in both equipment and services. EBIT is forecast at $44.21 million, implying incremental operating leverage as fixed cost absorption improves with higher throughput and continued procurement efficiencies. On the bottom line, a $0.16 adjusted EPS forecast reflects a measured expansion from the prior-year period, with net profit margin expected to hold or improve modestly versus the last quarter’s 1.30%, subject to mix and period expenses. Working capital dynamics remain an important swing factor: sustained backlog conversion aids revenue cadence, while any timing shifts in large projects could impact quarterly phasing without changing the full-year trajectory.

Industrial segment momentum and sensitivity

Industrial, the company’s largest business at $144.60 million last quarter, remains central to growth this quarter as diversified industrial, energy, and safety applications continue to show steady demand. The segment’s mix skews toward products and services where pricing initiatives and efficiency programs can protect gross margin, supporting the broader company’s margin profile as volumes rise. Forecasted revenue uplift for the company aligns with renewed activity in project-based orders and ongoing service agreements that offer higher visibility and recurring contribution. A key sensitivity is the pace of customer capital deployment in regulated or cyclical end markets; while the pipeline is broad, any project deferrals could temper quarterly conversion even as full-year prospects remain intact. For near-term performance, stable execution in manufacturing and logistics should underpin operating margin, with cost controls offsetting inflationary pressures.

Healthcare segment opportunities and execution

Healthcare, which delivered $78.50 million last quarter, is positioned to contribute incremental growth through installed base refresh cycles and new product introductions that appeal to radiation safety and dosimetry demand. The segment often carries attractive gross margin characteristics due to software-enabled services and recurring subscriptions, which, if sustained, can provide a cushion for consolidated margin performance. Near-term execution hinges on deployment timelines and customer onboarding throughput, particularly for larger healthcare networks that can influence quarter-to-quarter variability. Over the medium term, pipeline quality suggests that demand durability remains sound, though revenue recognition may exhibit seasonality. With the company’s overall EBIT forecast rising to $44.21 million, additional contribution from Healthcare could further support EPS delivery of $0.16 if mix trends skew toward higher-margin offerings.

Stock performance drivers and valuation considerations

The stock’s near-term movement is likely to be driven by revenue conversion against the $279.22 million target, gross margin resilience around the prior quarter’s 47.02%, and delivery versus the $0.16 EPS forecast. Investors are also watching whether net profit margin can improve from the last reported 1.30%, as scaling volumes and cost discipline should incrementally enhance profitability. Upside scenarios include outperformance on project delivery and a favorable mix shift toward service and software-rich offerings, supporting margin expansion beyond initial forecasts. Conversely, if project timing slips or product mix skews toward lower-margin hardware, EBIT and EPS could undershoot even with revenue growth. Cash generation and working capital progress are additional markers for sentiment, as they signal sustainability of operating improvements and capacity for reinvestment or balance sheet flexibility.

Analyst Opinions

Across recent institutional commentary, the majority stance leans bullish, with a prevalence of constructive views centered on revenue growth visibility, operating leverage, and the potential for incremental margin improvement in the coming quarter. Analysts highlighting the $279.22 million revenue estimate and $0.16 EPS forecast emphasize that the company’s backlog conversion and disciplined pricing support year-over-year growth of 13.95% in revenue and 7.92% in EPS. Notable coverage points to the EBIT forecast of $44.21 million as a reasonable baseline that could be surpassed if higher-margin service mix materializes, while cautioning that quarterly phasing remains a watch item. The balance of views acknowledges that while net profit margin was 1.30% last quarter, a gradual path of improvement is plausible as scale benefits accrue. On net, the predominant institutional perspective expects Mirion to meet or slightly outperform revenue and EPS forecasts, with positive bias conditioned on evidence of sustained gross margin near recent levels.