Mirion Technologies, Inc. (NYSE:MIR) Q4 2023 Earnings Call Transcript

Brian Schopfer: Look, if you look back over the last two years, our organic growth rate this year is about 9% at the total company level. Last year is about 6%. And so you got two-year stack numbers, ’23 and ’22 of 15%, and 9% for ’22 and ’21. So look, 5% to 7% is not that different of a number from what we’ve seen. And I think, candidly, there’s a lot of tailwinds. But look, we’ll take one quarter and one year at a time here and we’ll see how things evolve. And if we think longer-term, we can update the numbers that we’ve kind of guided more longer-term, then we’ll do so. But I think these are reasonable numbers to be putting up with the history we’ve had, the order growth we’ve seen. I think the biggest thing to recognize is the order growth gives us confidence in being able to deliver.

And I think that’s kind of the most important thing as we exit ’23 and begin our ’24 journey here. So, yeah, we like those numbers and we like how we’re set up for ’24. I think that’s really the focus right now.

Yuan Zhi: Got it. Thanks, Brian. Yeah, that’s all from us.

Operator: Thank you. Ladies and gentlemen, we have reached the end of the question-and-answer session. I would now like to turn the floor over to Thomas Logan for closing comments.

Thomas Logan: Thank you, and thanks to all who dialed in today. 2023 was a good year for Mirion. Again, I think we continued our evolution in terms of operational performance. We feel very good coming into 2024, about overall market dynamics, the top line support that will accrue from that. So for us, it’s down to execution. And we’re very, very focused, as we’ve noted, on operating margins, cash flow conversion, our digital conversion as a business and the exceptional new product launch focus that we have in the year ahead. These are things that are well within our wheelhouse. We are very proud of our long-term history of being strong operators and have a high degree of confidence as we come into 2024. So we look forward to sharing the journey with you as we move through it. But let’s end by again thanking all for participating today and we look forward to our next call.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.