The revenue miss and GAAP EPS miss are tempered by a maintained full-year guidance and strong orders growth. Monitor the Q3 2026 earnings call for any shift in end-market commentary, particularly in the Medical segment where management noted an 'adjustment' to composition. The stock's prior negative T+20 drift after positive events suggests near-term caution despite the solid operational trends.
Price Chart
Executive Summary
Mirion reported Q2 2026 revenue of $266.8M (+19.7% YoY), slightly below the $269.6M consensus, while GAAP EPS of $0.03 was below the $0.10 Street estimate. Adjusted EPS was $0.12, up from $0.11 YoY. The company reaffirmed all full-year 2026 guidance, including revenue growth of 22-24% and Adjusted EBITDA of $285-300M. The mixed picture of a revenue miss but maintained guidance and strong orders growth (+40% including acquisitions) points to a neutral-to-modestly-bullish read, though the prior quarter's guidance revision and the stock's negative T+20 history warrant caution.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $266.8M, +19.7% YoY but below $269.6M consensus
- GAAP net income of $8.1M, down 4.7% YoY; GAAP EPS $0.03 vs $0.04 YoY
- Adjusted EPS of $0.12, up from $0.11 YoY; Street consensus was $0.10
- Adjusted EBITDA of $65.3M, +27.5% YoY; margin expanded to 24.5% from 23.0%
- Total orders of $291M, +40% YoY including acquisitions; organic orders +10%
- Reaffirmed all 2026 guidance: revenue growth 22-24%, Adj. EBITDA $285-300M, Adj. EPS $0.48-$0.55
Financial Impact
Revenue miss of ~$2.8M vs consensus; GAAP EPS miss of $0.07 vs Street estimate; Adjusted EPS beat of $0.02 vs consensus
Risk Factors
- Revenue miss vs consensus could pressure the stock near-term
- GAAP net income declined YoY despite revenue growth, driven by higher operating expenses
- Historical T+20 performance on MIR reports has been negative, suggesting potential for post-earnings drift in the wrong direction
- Guidance reaffirmation provides a floor but leaves no room for upside surprise
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-050171 |
| Document: mir-20260728.htm | 0001628280-26-050171 |
| Document: 0001628280-26-050171-index-headers.html | 0001628280-26-050171 |
| Document: 0001628280-26-050171-index.html | 0001628280-26-050171 |
| Document: 0001628280-26-050171.txt | 0001628280-26-050171 |
| 8-K Data (Synthetic) | 0001628280-26-050171 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 28, 2026 9w ago | 8-K | $14.57 $14.90 | ▲ +2.26% | ▼ −2.76% | $14.76 (+1.30%) |
Apr 28, 2026 22w ago | 8-K | $18.66 $17.10 | ▼ −8.36% | ▼ −14.41% | $14.76 (−20.90%) |
Apr 13, 2026 24w ago | 8-K | $19.33 $18.47 | ▼ −4.45% | ▼ −12.18% | $14.76 (−23.64%) |
US Market Status
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