VREX
Varex Imaging Corporation11.86
+0.06+0.51%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Reaffirms outlook, adds India cargo details
Q&A reinforced the upbeat outlook, confirming Medical headwinds behind and CT strength amid stable demand, while Industrial pipelines stay robust. Management detailed India ramps—detectors shipping, tubes in 12 months—as a current P&L burden but customer magnet for emerging markets and radiography share gains. Cargo traction solid from multiple wins, though now lumpy and sans routine announcements; double-digit Industrial growth possible if shipments align. Inventory swells for ramps but set to normalize $10-15M lower soon. Debt refinance eyed before October 2026 to cut 7.875% rate. Optimism intact; watch India execution.
Key Stats
Market Cap
494.44MP/E (TTM)
-Basic EPS (TTM)
-1.70Dividend Yield
0%Recent Filings
8-K
8-K
Annual meeting results out
Varex Imaging shareholders convened their annual meeting on February 12, 2026, with 92% turnout. They elected seven directors—including Kathleen L. Bardwell and Sunny S. Sanyal—despite pockets of dissent for some. Say-on-pay passed handily; Deloitte's auditor role ratified unanimously. Board continuity locked in.
8-K
Q1 revenue up 5% to $210M
Varex Imaging kicked off fiscal 2026 with Q1 revenue of $210 million, up 5% year-over-year, fueled by 17% Industrial segment growth from cargo systems strength while Medical held flat at $145 million. Non-GAAP EPS hit $0.19, yet cash burned $16 million on inventory buildup. Q2 guides $210-225 million revenue, $0.15-0.25 non-GAAP EPS. Momentum persists.
10-Q
Q1 FY2026 results
Varex Imaging posted Q1 FY2026 revenue of $209.6M, up 4.9% y/y from $199.8M, driven by Industrial segment growth of 17.4% to $64.8M while Medical held flat at $144.8M; gross margin slipped to 33.3% from 34.3% on higher material costs. Operating income climbed to $15.4M from $11.2M as expenses fell 5.1%, but interest/other expense widened to $11.6M from $8.7M due to equity investment losses, yielding diluted EPS of $0.05 (reconciles to 42.3M shares). Cash dropped to $119.5M amid $16.1M operating outflow and $10.7M capex; $367.6M debt steady with $154.8M revolver available. Tariffs pressure competitiveness.
8-K
Varex FY25 revenue up 4%
Varex Imaging reported fiscal 2025 revenue of $845M, up 4% year-over-year, with Q4 hitting $229M, up 11%. Medical grew 5% to $152M on CT tubes; Industrial surged 25% to $77M via cargo systems. Goodwill impairment crushed GAAP profitability, yet non-GAAP EPS climbed 73% to $0.90. Q1 FY26 guides $200M-$215M revenue.
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