Mirion Technologies maintains 2026 outlook as revenue climbs 20%
The radiation measurement company reported second-quarter revenue of $266.8 million, a 19.7% increase from the prior year.
Mirion Technologies (MIR), the radiation measurement company, reported second-quarter revenue that rose 19.7% to $266.8 million.
The result followed a period of faster expansion, as the growth rate slowed from the 27.5% increase recorded in the first quarter.
Adjusted EBITDA rose 27.5% to $65.3 million, up from $51.2 million in the second quarter of 2024. The company's adjusted EBITDA margin expanded to 24.5% from 23.0% in the same period last year.
Order growth was driven largely by inorganic activity. Orders including the Paragon and Certrec acquisitions rose 40% to $291 million. Excluding those acquisitions, orders increased 10% to $229 million.
GAAP net income decreased 4.7% to $8.1 million from $8.5 million in the prior-year quarter. Adjusted earnings per share were $0.12, compared with $0.11 a share in the second quarter of 2024.
Mirion reaffirmed its full-year 2024 guidance for total revenue growth between 22.0% and 24.0% and organic revenue growth between 5.0% and 7.0%. The company expects adjusted EBITDA to range from $285 million to $300 million and adjusted free cash flow to be between $155 million and $175 million.
Adjusted EPS guidance for the year remains between $0.48 and $0.55. This range was previously lowered from $0.50 to $0.57 a share during the first quarter to account for a one-time CEO retention grant.