Varex Imaging Corp (VREX): Results of Operations and Financial Condition
Varex Imaging Corp (VREX) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 tm2622686d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 VAREX ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER FISCAL YEAR 2026 SALT LAKE CITY, August 10, 2026 – Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the third quarter fiscal
How this was made
The 30-second read
Why it matters
Traders can update near-term expectations using the disclosed Q3 revenue, margin, EPS, cash balance, and the specific IEEPA-related refund/revenue reduction mechanics. The cancellation of the earnings call and explicit lack of financial guidance adds uncertainty for forward estimates, especially with a pending Teledyne transaction.
Market read
Q3 results show revenue growth and improved non-GAAP margins/EPS, but cash declined and tariff reimbursement accounting plus no guidance amid a pending deal can drive volatility.
What to watch
Cash fell to $99M despite $21M operating cash flow, and the company provided no Q4 guidance while a Teledyne transaction is pending, which can increase valuation uncertainty and reduce near-term visibility.
Background
This is Varex’s SEC 8-K (Item 2.02) with an earnings release for third quarter fiscal year 2026, including non-GAAP metrics and tariff reimbursement/refund accounting.
Ticker impact
Varex reported Q3 FY2026 results with $211M revenue, margin/EPS changes, $17M Customs refunds tied to IEEPA tariffs, and canceled its earnings call due to a Teledyne deal.
Likely supportive bias from higher non-GAAP gross margin and EPS, partially offset by reduced cash ($99M vs $155M) and the absence of Q4 guidance amid deal pendency.
The filing provides multiple concrete datapoints (revenue up 4% YoY, non-GAAP gross margin 37% vs 34%, non-GAAP EPS $0.31 vs $0.13, $17M Customs refunds, cash down to $99M) plus a specific procedural change (earnings call canceled, no guidance) that can affect expectations and volatility.
Market effects
X-ray imaging component suppliers may see read-through from tariff reimbursement dynamics and industrial/security demand commentary, but the article is company-specific.
Limited direct regional impact; operations and customers are global OEMs.
Tariff and import/export regulatory mechanics (IEEPA) are globally relevant, but the disclosed impact is specific to Varex’s reimbursement/refund accounting.
Counterpoint
Tariff-related reimbursement and customer accruals may inflate reported gross profit and EPS quality, so underlying demand and cost structure could be less favorable than headline margins suggest.
Key entities
- companyVarex Imaging Corporation
Nasdaq-listed X-ray imaging components and systems provider that filed Q3 FY2026 results on Form 8-K and canceled its earnings call due to a pending Teledyne transaction.
- companyTeledyne Technologies Incorporated
Counterparty referenced for an announced transaction with Varex, which drove cancellation of the earnings call and absence of guidance.
- government agencyU.S. Customs
Refunds totaling $17M were received related to previously paid IEEPA tariffs, with a corresponding $7M revenue reduction for expected customer reimbursements.
