Varex Imaging (NASDAQ:VREX) Posts Earnings Results, Misses Expectations By $0.07 EPS

Posted by Cheyenne Larson on May 4th, 2024

Varex Imaging (NASDAQ:VREX – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07), Briefing.com reports. Varex Imaging had a return on equity of 9.21% and a net margin of 5.08%. The firm had revenue of $206.20 million for the quarter, compared to the consensus estimate of $205.15 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Varex Imaging updated its Q3 guidance to $0.05 to $0.25 EPS.

Varex Imaging Stock Performance

VREX stock traded down $0.84 during mid-day trading on Friday, hitting $15.59. 1,030,491 shares of the company were exchanged, compared to its average volume of 327,836. The stock has a market capitalization of $632.95 million, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. The company has a current ratio of 4.30, a quick ratio of 2.37 and a debt-to-equity ratio of 0.76. Varex Imaging has a 1-year low of $14.56 and a 1-year high of $23.90. The business has a 50 day simple moving average of $17.32 and a 200-day simple moving average of $18.49.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded Varex Imaging from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th.

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Varex Imaging Company Profile

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Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.