EarningsQ2 2026 Earnings Report
MX:MIR Q2 2026 EPS Results
Actual EPS$2.20
Consensus EPS$1.88
Beat/MissBeat by +$0.31
One Year Ago EPS$2.01
MX:MIR Q2 2026 Revenue Results
Actual Revenue$4.88B
Expected Revenue$4.93B
Beat/MissMissed by -$46.05M
YoY Revenue Growth+19.69%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:MIR Upcoming Earnings
Mirion Technologies's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MIR Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum driven by substantial backlog and order growth (notably in nuclear power and SMRs), expanding adjusted EBITDA margins, robust free cash flow, successful integration of Paragon, and maintained full-year guidance with good revenue coverage. Offsetting risks include weak organic revenue (medical softness and dosimetry declines), an $18M China debooking, M&A-related margin dilution, and timing/execution risk on large opportunities. On balance the positive drivers (backlog growth, margin expansion, cash generation, large wins, AI/product innovation) materially outweigh the near-term challenges, supporting constructive outlook for the remainder of 2026.Company Guidance
Backlog and Orders Expansion
Total backlog > $1.1B, nearly 40% higher vs Q2 2025; legacy backlog (ex-Paragon/Certrec) grew 17%, legacy subset up 31%, and legacy installed-base backlog up nearly 40% vs Q2 2025. Q2 orders +10% YoY; total orders including M&A grew 40% to $291M (including $62M from Paragon/Certrec).
Strong Nuclear Power Momentum
Nuclear power orders ex-M&A grew ~50% in Q2; SMR orders booked $49M (up ~$42M YoY). Management expects double-digit organic growth for nuclear power for the full year and continued multi-wave demand from installed-base, life-extensions, and digital transformation.
Revenue and Profitability Growth
Consolidated Q2 revenue $266.8M, +20% YoY (organic +1%). Adjusted EBITDA $65.3M, +27.5% YoY, with adjusted EBITDA margin expansion of ~150 bps in the quarter. Adjusted EPS $0.12 (method now includes stock-based comp).
Free Cash Flow and Capital Returns
Q2 adjusted free cash flow $49M; H1 adjusted free cash flow $60M — best first half since IPO. Share repurchases ~ $25M in Q2 (~1.4M shares), $40M repurchased YTD, $40M remaining under $100M program.
Maintained Full-Year Guidance and Visibility
Management maintained full-year 2026 guidance with ~81% of expected full-year revenue covered by H1 results + backlog; expects organic revenue to step up in H2 to 7.5%–11.2% and H2 adjusted EBITDA margins ~27%–29% (≈+150 bps YoY).
Paragon Acquisition Performing Well
Paragon revenue +15% in the quarter and +27% YTD under Mirion ownership; adjusted EBITDA margins at Paragon expanding and integration/synergy opportunities remain.
AI and Product Innovation
Active AI strategy across product development, organizational efficiency, and AI-driven solutions. New product highlights include PlanAI dosimetry and Daily QA4 Pro (integrated with SunCHECK). Current AI spend ~ $5M and growing.
Large Wins in July and Ongoing Pipeline
Early-July awards > $50M (including European installed-base order and DOE order); YTD awards ≈ $160M with ~ $280M of large opportunities remaining; management reports winning all transacted opportunities in the prior quarter.
MX:MIR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed