Varex Imaging Corp (FRA:VI4)

Q4 2024 Varex Imaging Corp Earnings Call Transcript

Nov 19, 2024 / 10:00 PM GMT

Release Date Price: €13.2 (+3.12%)

Transcript 10-K8-K

Key Points

Positve

Varex Imaging Corp (VREX) reported fourth-quarter revenues at the high end of their guidance range, driven by strong performance in the industrial segment.
The company is optimistic about the potential growth in medical imaging demand in China, positioning itself to benefit when growth resumes.
Varex Imaging Corp (VREX) is investing in photon counting technologies, which are expected to be a significant revenue growth driver, with a target of $150 million in annual revenue by fiscal 2029.
The company is expanding its portfolio with new products in premium applications such as surgery, oncology, and cardiology, which are expected to drive future growth.
Varex Imaging Corp (VREX) is making progress with its India expansion plans, aiming to begin production of components in India during the third quarter of fiscal 2025, which could improve cost structure and competitiveness.

Negative

Fourth-quarter revenue decreased by 10% year over year, with a 12% decline in the medical segment due to ongoing inventory adjustments by customers.
Gross margin in the fourth quarter was at the low end of the guidance range, impacted by an unfavorable sales mix in the industrial segment.
The company's China business is running at a lower level than in fiscal 2023, with a 20% decline in sales compared to the previous year.
Varex Imaging Corp (VREX) is facing challenges in the industrial segment, with a 4% revenue decline year over year, largely due to a challenging comparison against record revenues in the previous year.
The company is cautious about potential changes to tariffs, which could impact operations and financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VREX.OQ - Varex Imaging Corp
Q4 2024 Varex Imaging Corp Earnings Call
Nov 19, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Vris fourth quarter, fiscal year 2024 earnings call at this time. All participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Christopher Bell Fy, Director of Investor Relations. Thank you. You may begin.

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Unidentified_2 [2]
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Good afternoon and welcome to Barricks Imaging's earnings conference

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