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FMP

Varex Imaging Corporation Shares Up 12% on Q4 Beat

Varex Imaging Corporation (NASDAQ:VREX) were trading 12% higher Wednesday afternoon, following the company’s Q4 results, with revenue growth of 7% to $226 million, beating the consensus estimate of $215 million estimates.

The beat was driven by earlier-than-expected material delivery, strong demand in nearly all verticals, partially offset by worsening supply constraints. Medical rose 8% on CT tube demand, with oncology, radiographic, dental, mammography seeing growth, while fluoroscopy flat on shipment timing. Industrial rose 4% as non-destructive testing was strong in battery, oil & gas. Security screening and baggage remained soft but are improving. The company expects Q1/22 revenue to range from $200 million to $220 million, compared to the consensus estimate of $192 million.