Mirion cuts EPS outlook to $0.50–$0.54 despite 6.5% revenue growth
Key Facts
Mirion Technologies reported results for the third quarter ended September 30, 2026, posting organic revenue growth of 6.5% but lowering its full-year adjusted earnings per share forecast to a range of $0.50 to $0.54. The midpoint, at $0.52 per share, puts the forecast below analyst consensus of $0.55. The company said orders improved and organic revenue growth began to shift to a stronger pace. In contrast, the cut to its annual forecast weighed on the stock in after-hours trading. This puts the quarter’s results in a mixed context: improvement in some operating indicators alongside expected annual earnings below analysts’ estimate.
Chief Executive Thomas Logan said the third-quarter results showed "quarterly order performance, the beginning of a shift in organic revenue growth, and a doubling of adjusted free cash flow generation year to date." Logan linked order strength and an improving revenue trajectory with cash generation over the elapsed months of the year. His comment on cash flow provides another indicator of operating performance, alongside revenue and earnings-per-share figures. But the company lowered its adjusted earnings-per-share forecast for the year, keeping investors focused on whether operating improvement can support annual earnings. The revision did not change the fact that the new range midpoint is below analyst consensus.
Organic revenue growth was 6.5% in the third quarter, and the company expects it to rise to the mid-to-high teens in the fourth quarter. The forecast points to an expected acceleration in organic growth compared with the quarter ended in September. The company said the fourth-quarter forecast applies to organic revenue, while the earnings-per-share cut is part of its full fiscal-year estimates. Mirion therefore faces two diverging near-term paths: expected faster organic revenue growth and an annual adjusted earnings estimate below analyst consensus. How the projected revenue growth translates into earnings will depend on what management presents in its discussion of the results.
Mirion shares fell 2.7% in after-hours trading on Tuesday, October 27, after adjusted earnings matched expectations and the company cut its annual earnings-per-share guidance. The move reflects the market’s response to the lowered forecast, although the company pointed to improved order performance and organic revenue growth. The stock had closed at $14.92 on October 26, according to EL7 data. That close remains a reference for the session before the forecast cut was announced, while the after-hours decline relates to trading that followed the announcement. The available data did not include the day’s trading range.
Mirion had announced that its call to discuss third-quarter results would be held on Wednesday, October 28, 2026, at 10:00 a.m. Eastern Time. The call is scheduled to cover results that included revenue, orders, cash flow and revised guidance. The timing gives investors an opportunity to hear management’s explanations for cutting the earnings-per-share range, as well as its forecast for accelerating organic revenue growth in the fourth quarter. The call also puts the new guidance in the context of the CEO’s comments on improved orders and a doubling of adjusted free cash flow generation year to date. It follows the stock’s after-hours decline after the annual forecast was cut.