Varex Imaging reports Q3 EPS 37c, consensus 32c

Reports Q3 revenue $232M, consensus $228.3M. “We are pleased to report another solid quarter, with revenues reaching $232 million in the third quarter of fiscal 2023, a new quarterly record for Varex, and non-GAAP gross margin of 34% exceeding our expectations. These results were helped by the continued strength in our Industrial segment,” said Sunny Sanyal, Chief Executive Officer of Varex. Sanyal added, “Our efforts to reduce inventory levels coupled with profitability resulted in an increase in overall cash position by $30 million in the quarter.”