Mirion (MIR) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 29, 2026 astatine 10:49 AM CDT 42 min read

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DATE

Wednesday, April 29, 2026 astatine 10 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Tom Logan

• Chief Financial Officer — Brian Schopfer

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Full Conference Call Transcript

Tom Logan: Eric, convey you precise much, and acknowledgment to each of you for joining our archetypal 4th net call. We are disconnected to a beardown commencement successful 2026 with important archetypal 4th bid generation. Orders are a bellwether for our business, and they accrued 19% successful the archetypal 4th to $241 cardinal excluding M&A-related growth. If we see M&A maturation from Paragon and CertRec, orders accrued 42% to $288 million. Order measurement was notably diverse. Both segments saw meaningful growth, including our RTQA aesculapian business, which faced headwinds successful 2025. This is translating into noticeable expansion. Backlog present totals $1.1 billion, up 19% excluding M&A, oregon 38% including M&A.

Our atomic powerfulness extremity marketplace wrong the Nuclear and Safety conception continues to pb the way. Nuclear powerfulness orders and gross maturation were derived chiefly from existing reactors moving contiguous and tiny modular reactors, oregon SMRs. Paragon orders added different $43 cardinal successful the quarter. We proceed to beryllium impressed by the worth created by the Paragon team. Given the quality of their solution set, they are genuinely the extremity of the spear erstwhile it comes to momentum from the atomic powerfulness installed base. The existing atomic fleet is approaching mediate property and reinvestment is captious to support and summation capableness done powerfulness upgrades.

We volition walk clip this greeting detailing advancement connected our ample accidental bid pipeline, but fto maine tease the treatment by noting we secured $50 cardinal of these ample accidental orders successful Q1. Moreover, we won an further $35 cardinal successful SMR-related orders successful April. The remainder of the pipeline remains intact and we proceed to person precocious condemnation connected our close to win. The accelerating atomic powerfulness request we spot is reflective of expanding marketplace tailwinds. The momentum continues to compound and caller geopolitical events reenforce the request for onshore unafraid baseload energy. A decennary ago, operators were focused connected accelerated works shutdowns with utmost superior rationing impacting OpEx and CapEx budgets.

Today, they are focused connected 100-year operating cycles arsenic good arsenic works modernization, some of which profoundly interaction superior spending plans. We spot this astir instantly successful Paragon and CertRec, with a important follow-on accidental for Mirion Technologies, Inc. instrumentation and controls, and digitally enabled radiation extortion solutions. Note that this dynamic is robust and not contingent upon aboriginal assumptions astir AI-driven request growth. The limiting origin connected AI maturation is disposable compute which, successful turn, is astir profoundly constrained by vigor availability. Further, enactment that greater than 80% of our atomic powerfulness gross accrues from the installed base. New atomic projects correspond upside with beardown optionality tied to some SMR and utility-scale improvement plans.