Mirion Technologies Q3 2026: Nuclear Orders Surge 105%, Guidance Raised
As seen on the 24/7 Wall St. homepage on October 27, 2026.
Nuclear power-related demand rose 105%, the number that matters this quarter even with earnings missing expectations. Management raised full-year revenue growth guidance to 24% to 25% and lifted free cash flow guidance.
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Mirion Technologies reported Q3 2026 revenue of $277.8 million, topping consensus, with revenue climbing 24.5% year over year. Adjusted EPS of $0.12 came in missing expectations, partly because management now includes stock-based compensation in the adjusted EPS calculation.
Orders outweighed the earnings miss: excluding acquisitions, total orders jumped 62%, with nuclear power-related orders surging 105%. CEO Thomas Logan called it an inflection point and said the company expects mid-to-high teens organic growth in Q4.
Mirion raised its full-year 2026 revenue growth outlook to 24% to 25% and lifted adjusted free cash flow guidance. Adjusted free cash flow reached $107 million year to date, more than double the pace from a year earlier. Management projected net leverage declining to approximately 2.6 times by year-end.
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Mirion has a presence in over 98% of commercial nuclear power plants globally, and roughly 80% of its nuclear power-related revenue comes from reactors already operating. That existing-fleet exposure provides a demand floor before any upside from new large-scale builds and small modular reactors. Acquisitions of Paragon and Certrec added to revenue in the quarter.
Investors keeping an eye on the stock will want to track whether the Q4 organic growth acceleration materializes as guided and whether the order book momentum from nuclear power translates into sustained EPS beats as the new stock-based compensation methodology becomes the established baseline for comparison.
Mentioned: MIR