Varex Q2 revenue $206M, down 10% YoY; lowers H2 outlook due to China softness

Varex Imaging Corp

2024-Q2 EPS reported $0.02 revenue$396,200,000

Revenue $206M, down 10% YoY; GAAP EPS $0.03, Non-GAAP EPS $0.16 (down from $0.26).
Medical segment revenue $149M (-15% YoY); Industrial $57M (+6% YoY).
Non-GAAP gross margin 33% flat YoY; operating cash flow $3M.
Q3 guidance: revenue $200-220M, non-GAAP EPS $0.05-$0.25; management lowered H2 expectations.
CEO cited continued softness in China as primary headwind for medical segment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Varex Imaging Corp reported three and six months ended March 29, 2024 (second quarter of fiscal year 2024) results: revenue $206 million, net income GAAP net earnings $0.03 per diluted share; Non-GAAP net earnings $0.16 per diluted share. Guidance lowered.

Period: three and six months ended March 29, 2024 (second quarter of fiscal year 2024)
Revenue: $206 million
Net income: GAAP net earnings $0.03 per diluted share; Non-GAAP net earnings $0.16 per diluted share
Guidance: lowered
Result: preliminary results

Exact text from the filing

May 2, 2024 – Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the second quarter of fiscal year 2024. 2QFY24 Summary • Revenues $206 million • GAAP gross margin 32% | Non-GAAP gross margin* 33% • GAAP operating margin 4% | Non-GAAP operating margin* 6% • GAAP net earnings $0.03 per diluted share | Non-GAAP net

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Source: SEC EDGAR

accession 0001681622-24-000058

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