Varex Imaging Corporation Q1 2026 Earnings Recap

VREX Q1 2026 February 11, 2026

Varex Imaging reported a strong start to FY 2026 with Q1 revenues of $210 million, reflecting a 5% year-over-year increase, driven primarily by robust performance in the Industrial segment.

Earnings Per Share Beat

$0.19 vs $0.14 est.

+35.7% surprise

Revenue Beat

209600000 vs 207792000 est.

+0.9% surprise

Market Reaction

1-Day -3.82%

5-Day -4.45%

30-Day -18.52%

Key Takeaways

Industrial segment revenue surged 17% year-over-year, supported by high demand in cargo systems and nondestructive testing applications.
Non-GAAP gross margin reached 34%, benefiting from a favorable product sales mix, aligning with guidance.
Non-GAAP EBITDA rose to $29 million, a 12% increase year-over-year, while Non-GAAP EPS improved to $0.19, up from $0.10.
Customer engagement at RSNA highlighted positive trends in demand, with increased focus on next-generation system designs and strong sales trends in certain medical modalities.
Varex's integrated modality-based approach to product offerings is expected to enhance customer partnerships and drive long-term revenue growth through system-level design wins.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit VREX on AllInvestView.