Company Reports Q2 Revenue of $216M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Reports Q2 revenue $216M, consensus $216.92M. "Demand remained solid in the second quarter, with continued momentum across both our Medical and Industrial businesses driven by global CT, cargo systems and photon counting detectors," said Sunny Sanyal, Chief Executive Officer. Sanyal added, "As we move into the second half of fiscal 2026, we are encouraged by favorable demand trends across both Medical and Industrial segments. We believe these dynamics position us well to grow revenue year-over-year in the second half of fiscal 2026."
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Analyst Views on VREX
Wall Street analysts forecast VREX stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 10.210
Low
16.00
Averages
17.00
High
18.00
Current: 10.210
Low
16.00
Averages
17.00
High
18.00
About VREX
Varex Imaging Corporation is a designer and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. The Company’s segments include Medical and Industrial. Its Medical segment designs, manufactures, sells and services X-ray imaging components, including X-ray tubes, flat panel and photon-counting detectors and accessories, high-voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and coolers. Its Industrial segment designs, develops, manufactures, sells, and services X-ray imaging products for use in a number of applications, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing, irradiation, and inspection applications used in a number of other verticals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Varex Imaging (VREX) Q2 2026 Earnings Transcript
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Varex Imaging Q2 Fiscal 2026 Earnings Call Insights
- Stable Revenue Performance: Varex Imaging reported Q2 revenue of $216 million, aligning with guidance, with a 2% increase in medical revenue driven by strong CT sales, indicating stability in both medical and industrial sectors despite some softness in industrial performance.
- Strong Gross Margin: The non-GAAP gross margin stood at 34%, at the high end of guidance, with non-GAAP EPS of $0.21, reflecting effective cost control amidst rising raw material prices, showcasing the company's resilience in maintaining profitability.
- Successful Debt Restructuring: The company completed debt refinancing, resulting in reduced outstanding debt and lower annual interest expenses, enhancing its capital structure and providing greater flexibility for future investments and growth initiatives.
- Optimistic Future Outlook: Full fiscal year 2026 revenue is expected to range between $860 million and $880 million, with Q3 revenue guidance set between $210 million and $225 million, demonstrating the company's confidence in future growth despite facing some cost and logistics challenges.
See More
VAREX IMAGING Q2 ADJUSTED EPS MATCHES IBES ESTIMATE AT USD 0.21
Q2 Adjusted EPS: VAREX Imaging reported an adjusted earnings per share (EPS) of USD 0.21 for the second quarter.
Comparison with Estimates: This EPS figure matches the estimates provided by IBES, which also projected an EPS of USD 0.21.
See More
Varex Imaging Corporation to Report Q2 2026 Financial Results
- Earnings Release Schedule: Varex Imaging Corporation will announce its unaudited financial results for Q2 of fiscal year 2026 after market close on May 7, 2026, which is expected to significantly impact investor sentiment.
- Conference Call Details: Following the earnings release, Varex will host a conference call at 3:00 PM Mountain Time, allowing investors to participate via 877-524-8416 (U.S.) or 412-902-1028 (non-U.S.), enhancing investor engagement and communication.
- Webcast and Replay Availability: The conference call will be webcast live and accessible on the company's website, with a replay available from May 7 to May 21, ensuring broad dissemination of information and transparency for stakeholders.
- Company Background: Varex Imaging Corporation is a leading manufacturer of X-ray imaging components with over 70 years of innovation, whose products are utilized in medical, industrial, and security imaging applications, underscoring its significant market presence.
See More
Varex Imaging Secures $490 Million Credit Agreement
- Credit Agreement Overview: Varex Imaging has entered into a $490 million Credit and Guaranty Agreement on March 13, 2026, which includes a $350 million secured term loan and a $100 million secured revolving credit facility, maturing in 2031, thereby enhancing the company's financial flexibility.
- Debt Redemption Plan: The company plans to redeem $368 million of its 7.875% Senior Secured Notes on March 16, 2026, using funds from the new credit agreement, which is expected to reduce annual cash interest expenses by over $7 million, significantly improving its financial position.
- Interest Rate Management Strategy: Varex has entered into an interest rate swap that effectively fixes the variable SOFR rate at 3.65%, with an applicable margin set at 2.50%, which will help lower financing costs and enhance future free cash flow generation capabilities.
- Strategic Investment Direction: The CFO stated that this financing will support continued investment in the core business while prioritizing long-term shareholder value, demonstrating the company's confidence and commitment to future growth.
See More
Varex Imaging to Present at Upcoming Investor Conferences
- Investor Conference Schedule: Varex Imaging announced its participation in Oppenheimer's 36th Annual Healthcare, MedTech & Services Virtual Conference on March 17, 2025, at 10:40 AM ET, and the Sidoti Small Cap Virtual Conference on March 18, 2026, at 1:00 PM ET, showcasing the company's innovations and market outlook in medical imaging.
- Webcast Access: Investors can access the conferences via the company's website or provided webcast links, ensuring transparent communication with investors and enhancing market confidence.
- Company Background: Varex Imaging is a leading innovator in X-ray imaging components with over 70 years of successful innovation history, with products widely used in medical, industrial, and security imaging, demonstrating the company's deep technological expertise.
- Global Workforce Distribution: Varex employs approximately 2,400 people across North America, Europe, and Asia, showcasing its global operational capabilities and market reach, further solidifying its leadership position in the imaging industry.
See More
Varex Imaging (VREX) Q2 2026 Earnings Transcript
See More
Varex Imaging Q2 Fiscal 2026 Earnings Call Insights
- Stable Revenue Performance: Varex Imaging reported Q2 revenue of $216 million, aligning with guidance, with a 2% increase in medical revenue driven by strong CT sales, indicating stability in both medical and industrial sectors despite some softness in industrial performance.
- Strong Gross Margin: The non-GAAP gross margin stood at 34%, at the high end of guidance, with non-GAAP EPS of $0.21, reflecting effective cost control amidst rising raw material prices, showcasing the company's resilience in maintaining profitability.
- Successful Debt Restructuring: The company completed debt refinancing, resulting in reduced outstanding debt and lower annual interest expenses, enhancing its capital structure and providing greater flexibility for future investments and growth initiatives.
- Optimistic Future Outlook: Full fiscal year 2026 revenue is expected to range between $860 million and $880 million, with Q3 revenue guidance set between $210 million and $225 million, demonstrating the company's confidence in future growth despite facing some cost and logistics challenges.
See More
VAREX IMAGING Q2 ADJUSTED EPS MATCHES IBES ESTIMATE AT USD 0.21
Q2 Adjusted EPS: VAREX Imaging reported an adjusted earnings per share (EPS) of USD 0.21 for the second quarter.
Comparison with Estimates: This EPS figure matches the estimates provided by IBES, which also projected an EPS of USD 0.21.
See More
Varex Imaging Corporation to Report Q2 2026 Financial Results
- Earnings Release Schedule: Varex Imaging Corporation will announce its unaudited financial results for Q2 of fiscal year 2026 after market close on May 7, 2026, which is expected to significantly impact investor sentiment.
- Conference Call Details: Following the earnings release, Varex will host a conference call at 3:00 PM Mountain Time, allowing investors to participate via 877-524-8416 (U.S.) or 412-902-1028 (non-U.S.), enhancing investor engagement and communication.
- Webcast and Replay Availability: The conference call will be webcast live and accessible on the company's website, with a replay available from May 7 to May 21, ensuring broad dissemination of information and transparency for stakeholders.
- Company Background: Varex Imaging Corporation is a leading manufacturer of X-ray imaging components with over 70 years of innovation, whose products are utilized in medical, industrial, and security imaging applications, underscoring its significant market presence.
See More
Varex Imaging Secures $490 Million Credit Agreement
- Credit Agreement Overview: Varex Imaging has entered into a $490 million Credit and Guaranty Agreement on March 13, 2026, which includes a $350 million secured term loan and a $100 million secured revolving credit facility, maturing in 2031, thereby enhancing the company's financial flexibility.
- Debt Redemption Plan: The company plans to redeem $368 million of its 7.875% Senior Secured Notes on March 16, 2026, using funds from the new credit agreement, which is expected to reduce annual cash interest expenses by over $7 million, significantly improving its financial position.
- Interest Rate Management Strategy: Varex has entered into an interest rate swap that effectively fixes the variable SOFR rate at 3.65%, with an applicable margin set at 2.50%, which will help lower financing costs and enhance future free cash flow generation capabilities.
- Strategic Investment Direction: The CFO stated that this financing will support continued investment in the core business while prioritizing long-term shareholder value, demonstrating the company's confidence and commitment to future growth.
See More
Varex Imaging to Present at Upcoming Investor Conferences
- Investor Conference Schedule: Varex Imaging announced its participation in Oppenheimer's 36th Annual Healthcare, MedTech & Services Virtual Conference on March 17, 2025, at 10:40 AM ET, and the Sidoti Small Cap Virtual Conference on March 18, 2026, at 1:00 PM ET, showcasing the company's innovations and market outlook in medical imaging.
- Webcast Access: Investors can access the conferences via the company's website or provided webcast links, ensuring transparent communication with investors and enhancing market confidence.
- Company Background: Varex Imaging is a leading innovator in X-ray imaging components with over 70 years of successful innovation history, with products widely used in medical, industrial, and security imaging, demonstrating the company's deep technological expertise.
- Global Workforce Distribution: Varex employs approximately 2,400 people across North America, Europe, and Asia, showcasing its global operational capabilities and market reach, further solidifying its leadership position in the imaging industry.
See More
