VAREX IMAGING Reports Q3 FY2023 Earnings Results for June 30 2023
August 7, 2023
🌥️Earnings Overview
On August 1, 2023, VAREX IMAGING ($NASDAQ:VREX) revealed their financial results for the third quarter of the fiscal year 2023, which ended on June 30, 2023. Total revenue for the quarter was USD 232.2 million, a growth of 8.3% compared to the same period last year. Additionally, net income also rose 11.0% year over year to USD 9.1 million.
Market Price
VAREX IMAGING has reported its earnings results for the period ending June 30 2023, the third quarter of fiscal year 2023. On Tuesday, VAREX IMAGING stock opened at $23.2 and closed at $23.0, which is a 1.2% decrease from the prior closing price of 23.3. Despite this minor dip in share price, the company has reported an overall increase in revenues and profits for the period. The report includes a detailed analysis of the company’s performance in terms of sales and profitability. It also highlights key factors that may have influenced the company’s performance such as market trends, changes in regulatory environment, and competitive pressures.
In addition, the report also provides insights on the outlook for VAREX IMAGING moving forward, and potential strategies for ensuring sustained growth and profitability. Overall, despite the slight drop in share price, VAREX IMAGING has reported positive results for the third quarter of fiscal year 2023. The company continues to be well positioned to capitalize on opportunities as they arise, and continues to remain an attractive investment option for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Varex Imaging. More…
| Total Revenues | Net Income | Net Margin |
| 897.4 | 29.4 | 3.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Varex Imaging. More…
| Operations | Investing | Financing |
| 78.4 | -57.8 | -1.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Varex Imaging. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.21k | 666.8 | 13.16 |
Key Ratios Snapshot
Some of the financial key ratios for Varex Imaging are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.2% | 20.4% | 8.2% |
| FCF Margin | ROE | ROA |
| 5.9% | 8.7% | 3.8% |
Analysis
Our Risk Rating based on both financial and business aspects gives VAREX IMAGING a high risk rating. Upon further analysis, we have detected two risk warnings in their balance sheet. For more information, you can register with us and check it out. We can help you make an informed decision about investing in VAREX IMAGING. More…
Peers
The competition between Varex Imaging Corp and its competitors is intense. The company must continually innovate and improve its products and services to stay ahead of the competition. It must also provide value to its customers through its pricing and customer service.
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Summary
VAREX IMAGING reported a solid quarter ending June 30, 2023, with total revenue of USD 232.2 million, an 8.3% increase from the previous year. Net income was up 11.0% year over year, standing at USD 9.1 million. This indicates that the company is continuing to perform well and may be a good investment opportunity. Investors should consider VAREX IMAGING’s strong balance sheet and consistent earnings growth as potential upside for the stock price.
Additionally, investors should watch for any potential catalysts that can drive further growth, such as expansion into new markets and product launches.
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