TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. During the quarter, the fund returned 2.26% (gross) and 2.01% (net), compared to the Russell 2000 Growth Index’s 12.19% return. During the quarter, all asset classes except fixed income outside the U.S. posted positive returns. In addition, please check the fund’s top five holdings to know its best picks in 202 ...

We came across a bullish thesis on Mirion Technologies, Inc. on The Financial Pen’s Substack. In this article, we will summarize the bulls’ thesis on MIR. Mirion Technologies, Inc.'s share was trading at $25.16 as of December 1st. MIR’s trailing P/E was 236.55 according to Yahoo Finance. NuScale (SMR) Soars to New High on US Army Nuclear Tech Adoption Copyright: vencavolrab78 / 123RF Stock Photo Mirion Technologies (NYSE: MIR) is a global leader in radiation detection, monitoring, and safety solutions w ...

Core Insights - Windjammer Capital Investors has completed the sale of Paragon Energy Solutions to Mirion Technologies, indicating a strategic move in the nuclear power solutions sector [1][3]. Company Overview - Paragon Energy Solutions, based in Fort Worth, Texas, specializes in engineered solutions for large-scale nuclear power plants and small modular reactors (SMRs), providing essential products for safe operations in compliance with regulatory standards [2]. Investment Strategy - Since acquiring Paragon in November 2021, Windjammer has focused on strategic priorities such as enhancing sales channels, expanding product offerings, and developing new products for SMRs, which has contributed to significant growth and positioned Paragon for long-term success in the nuclear sector [3][4]. Management Perspective - Windjammer's Managing Director emphasized the partnership-driven investment approach, aligning with Paragon's management to expand its market reach and advance technologies for SMRs, showcasing Paragon's engineering capabilities and commitment to innovation [4][5]. Market Position - Paragon is recognized as a mission-critical and highly technical business, well-positioned to lead in the evolving nuclear solutions industry, capitalizing on the increasing demand for next-generation nuclear technologies [5].

ATLANTA--(BUSINESS WIRE)--Mirion ("we†or the "company†) (NYSE: MIR), a global provider of radiation detection, measurement, analysis, and monitoring solutions to the nuclear, medical, defense, and research end markets, today announced it has completed its acquisition of Paragon Energy Solutions ("Paragon†), one of the leading providers of highly engineered solutions for the nuclear power industry. The closing of the acquisition integrates Paragon's nuclear-industry engineering capabilities and. ...

Company Overview - JBT Marel (JBTM) is a member of the Business Services group, which consists of 259 companies and currently ranks 5 in the Zacks Sector Rank [2] - JBT Marel has a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] Performance Analysis - JBT Marel has gained approximately 9.4% year-to-date, outperforming the Business Services sector, which has returned an average of -12.3% [4] - In comparison, Mirion Technologies, Inc. (MIR) has seen a significant increase of 42.9% year-to-date, also holding a Zacks Rank of 2 (Buy) [4][5] Industry Context - JBT Marel is part of the Technology Services industry, which includes 124 companies and currently ranks 69 in the Zacks Industry Rank [6] - The Technology Services industry has an average gain of 11.5% year-to-date, indicating that JBT Marel is slightly underperforming its industry [6] Analyst Sentiment - The Zacks Consensus Estimate for JBT Marel's full-year earnings has increased by 7.8% over the past quarter, reflecting improved analyst sentiment and a stronger earnings outlook [3]

Summary of SMid Cap Industrials Conference Call Industry Overview - **Industry Focus**: North America Small and Mid Cap Industrials, particularly in AI infrastructure and related sectors [1][3][4] - **Key Themes**: - Market penetration within untapped Total Addressable Market (TAM) - Broad infrastructure investments - Nuclear power growth and safety - Electrification and automation trends [4][9] Company Insights APi Group (APG) - **Rating**: Overweight - **Current Price**: $37.4 - **Price Target**: $42 (12.1% upside) - **Market Cap**: $15.563 billion - **P/E Ratio**: 30.4x - **Revenue Growth CAGR**: 8% [3][6] Mirion Technologies (MIR) - **Rating**: Overweight - **Current Price**: $24.0 - **Price Target**: $34 (41.5% upside) - **Market Cap**: $5.955 billion - **P/E Ratio**: 57.3x - **Revenue Growth CAGR**: 2% [3][10] Rollins Inc. (ROL) - **Rating**: Overweight - **Current Price**: $59.4 - **Price Target**: $70 (17.9% upside) - **Market Cap**: $28.763 billion - **P/E Ratio**: 59.2x - **Revenue Growth CAGR**: 25% [3][6] Valmont Industries (VMI) - **Rating**: Overweight - **Current Price**: $391.2 - **Price Target**: $480 (22.7% upside) - **Market Cap**: $7.706 billion - **P/E Ratio**: 22.5x - **Revenue Growth CAGR**: 13% [3][13] Gates Industrial Corp (GTES) - **Rating**: Overweight - **Current Price**: $21.5 - **Price Target**: $33 (53.2% upside) - **Market Cap**: $5.563 billion - **P/E Ratio**: 15.5x - **Revenue Growth CAGR**: 7% [3][6] Regal Rexnord (RRX) - **Rating**: Overweight - **Current Price**: $131.0 - **Price Target**: $190 (45.0% upside) - **Market Cap**: $8.696 billion - **P/E Ratio**: 14.4x - **Revenue Growth CAGR**: 5% [3][6] Key Industry Trends - **Data Center Demand**: Expected electricity consumption from data centers to reach ~1,100 TWh by 2028, with a power installed base growing to 242GW by 2028 [22][24] - **Capex Growth**: Anticipated ~55% increase in annual grid investments from 2024 to 2030, driven by rising power consumption and infrastructure needs [31][32] - **Nuclear Power**: Significant partnerships with hyperscalers for nuclear energy supply, indicating a shift towards sustainable energy sources [37][45] Competitive Landscape - **Mirion Technologies**: Leading in nuclear safety technologies with a strong market share in 17 of 19 markets served, focusing on radiation safety and medical applications [52][54] - **Valmont Industries**: Positioned as a global leader in irrigation equipment and infrastructure solutions, benefiting from utility and telecommunications demand [91][96] Financial Metrics - **Average P/E Ratio**: 26.4x across covered companies - **Average Revenue Growth CAGR**: 14% for the sector [3][6] Conclusion - The SMid Cap Industrials sector is poised for growth driven by infrastructure investments, data center demand, and nuclear energy partnerships. Companies like Mirion and Valmont are well-positioned to capitalize on these trends, with strong financial metrics and growth potential.

Industry Overview - The artificial intelligence (AI) sector, bolstered by the growth of cloud computing and data centers, is experiencing a robust demand scenario, with a significant surge in data center capacity needed to manage and store cloud-based data [1] - AI infrastructure capital expenditure (capex) is projected to exceed $1 trillion by 2028 according to Goldman Sachs and Bank of America, while JP Morgan and Citigroup forecast a cumulative total of $5 trillion by 2030. McKinsey & Co. estimates that global AI-powered data center infrastructure capex will reach around $7 trillion by 2030 [2] Company Recommendations - Investors are advised to buy and hold five non-technology U.S. companies that are expected to benefit from the AI-driven data center boom in 2026. These companies have shown significant stock performance in 2025 [3] - The recommended companies include Comfort Systems USA Inc. (FIX), Vertiv Holdings Co. (VRT), Mirion Technologies Inc. (MIR), BWX Technologies Inc. (BWXT), and EMCOR Group Inc. (EME), all of which currently hold a Zacks Rank of 1 (Strong Buy) or 2 (Buy) [4] Company Insights Comfort Systems USA Inc. (FIX) - FIX operates primarily in the HVAC markets and is experiencing increased demand for specialized HVAC solutions due to the data center boom driven by AI and cloud computing [7][8] - The company is expanding its data center construction work, which is becoming a significant growth driver and attracting M&A activity [10] - Expected revenue and earnings growth rates for FIX are 14.7% and 16.4%, respectively, for the next year, with a 20.1% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [11] Vertiv Holdings Co. (VRT) - VRT is a leading provider of critical digital infrastructure for data centers and is benefiting from strong market demand and an extensive product portfolio [12][13] - The company is strategically expanding its capacity to meet the growing demand for AI-enabled solutions and has made acquisitions to enhance its service capabilities [13][14] - Expected revenue and earnings growth rates for VRT are 20.7% and 26.3%, respectively, for the next year, with a 6.8% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [15] Mirion Technologies Inc. (MIR) - MIR provides radiation detection and monitoring products and is focused on expanding its reach in the nuclear energy sector [16] - The company is integrating digital technologies into its radiation safety solutions and has recently partnered with Westinghouse Electric Company [17] - Expected revenue and earnings growth rates for MIR are 24.7% and 26.5%, respectively, for the next year, with a 1.6% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [18] BWX Technologies Inc. (BWXT) - BWXT manufactures nuclear components and is benefiting from strong bookings and government contracts, particularly in the nuclear sector [19][20] - The company's total backlog reached $7.4 billion, up 119% year over year, driven by robust federal demand and a growing pipeline [21] - Expected revenue and earnings growth rates for BWXT are 14.5% and 9.9%, respectively, for the next year, with a 0.2% improvement in the Zacks Consensus Estimate for next year's earnings over the last seven days [24] EMCOR Group Inc. (EME) - EME is a leading provider of critical infrastructure to AI-powered data centers, focusing on electrical infrastructure and cooling systems [25] - The company is gaining traction in the data center construction market, which is contributing to its expanding performance obligations [26][27] - Expected revenue and earnings growth rates for EME are 5.9% and 8.6%, respectively, for the next year, with a 1.2% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [28]

Core Viewpoint - Mirion Technologies, Inc. (MIR) has seen a 3.1% increase in share price over the past four weeks, closing at $24.91, with analysts suggesting a potential upside based on price targets averaging $31.83, indicating a 27.8% increase from the current price [1] Price Targets - The average price target consists of six estimates ranging from a low of $29.00 to a high of $35.00, with a standard deviation of $2.79, suggesting a consensus among analysts [2] - The lowest estimate indicates a 16.4% increase, while the highest suggests a 40.5% upside, highlighting the variability in analyst predictions [2] Analyst Sentiment - There is strong agreement among analysts regarding MIR's ability to exceed previous earnings estimates, which supports the potential for stock price appreciation [4][11] - Recent revisions in earnings estimates show two upward adjustments and one downward, resulting in a 3.9% increase in the Zacks Consensus Estimate for the current year [12] Zacks Rank - MIR holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating a strong potential for upside [13] Conclusion on Price Targets - While the consensus price target may not be a definitive indicator of MIR's potential gains, the direction implied by these targets appears to be a useful guide for investors [14]

Core Insights - Mirion Technologies, Inc. (NYSE:MIR) achieved an all-time high stock price following strong Q3 earnings and a positive growth outlook for 2025 [1][3][4] Financial Performance - The company reported a net income of $2.9 million for Q3, a significant turnaround from a net loss of $13.6 million in the same quarter last year [3] - Total revenues increased by 7.88% year-on-year, reaching $223.1 million compared to $206.8 million [4] Growth Outlook - For the full year 2025, Mirion Technologies maintained its revenue growth forecast of 7% to 9%, with adjusted EBITDA projected between $223 million and $233 million, and adjusted EPS expected to be between $0.48 and $0.52 [5] - The company revised its organic revenue growth forecast down to 4.5% to 6% from a previous range of 5% to 7% [6]

Financial Performance - Total revenues for Q3 2025 reached $223.1 million, a 7.5% increase from $206.8 million in Q3 2024[18] - Net income attributable to Mirion Technologies, Inc. for Q3 2025 was $2.9 million, a significant improvement from a net loss of $13.6 million in Q3 2024[18] - The company reported a comprehensive income of $2.5 million for Q3 2025, compared to a comprehensive income of $6.3 million for Q3 2024[21] - Net income for the nine months ended September 30, 2025, was $12.0 million, a significant improvement from a net loss of $52.5 million for the same period in 2024[32] - The consolidated income before income taxes for the three months ended September 30, 2025, was $1.2 million, a recovery from a loss of $13.0 million in the same period of 2024[172] Revenue Segments - The Medical segment generated revenues of $78.5 million for the three months ended September 30, 2025, compared to $74.1 million in the same period of 2024, reflecting a 5.9% increase[172] - The Nuclear & Safety segment reported revenues of $144.6 million for the three months ended September 30, 2025, up from $132.7 million in the same period of 2024, marking a 9.5% increase[172] - Cancer care revenue increased to $62.0 million for the three months ended September 30, 2025, compared to $57.1 million in 2024, representing an increase of 15.6%[178] - The Nuclear & Safety segment's revenues for the nine months ended September 30, 2025, were $419.7 million, up from $392.4 million in the same period of 2024, representing a 7.0% growth[173] Cash and Liquidity - Cash and cash equivalents increased to $933.2 million as of September 30, 2025, up from $175.2 million at December 31, 2024[16] - The total cash, cash equivalents, and restricted cash at the end of the period was $933.6 million, a substantial increase from $133.7 million at the end of September 2024[32] - The company maintains cash in bank accounts that may exceed insured limits but has not experienced any losses[61] Assets and Liabilities - Total assets grew to $3,495.8 million as of September 30, 2025, compared to $2,636.0 million at December 31, 2024, marking a 32.6% increase[16] - Total liabilities rose to $1,603.8 million as of September 30, 2025, compared to $1,076.9 million at December 31, 2024[16] - Total debt as of September 30, 2025, was $451.6 million, down from $697.4 million as of December 31, 2024, reflecting a decrease of approximately 35.3%[93] Stock and Equity - The weighted average diluted shares outstanding increased to 255.662 million for Q3 2025, compared to 206.676 million for Q3 2024[19] - As of September 30, 2024, total stockholders' equity is $2,137.2 million, a decrease of $556.5 million from the previous period[24] - The company issued 19,906,322 shares of Class A common stock under a direct registered offering, generating $409.6 million in net proceeds[29] Expenses - Research and development expenses for the nine months ended September 30, 2025, were $28.8 million, compared to $26.9 million for the same period in 2024[18] - Stock-based compensation expense for the quarter is $4.2 million, reflecting an increase from $3.9 million in the previous quarter[24] - The company incurred restructuring expenses totaling $1.0 million for the three months ended September 30, 2025, compared to $1.8 million for the same period in 2024[204] Acquisitions and Investments - The Company acquired Certrec for approximately $82.2 million, which included $29.9 million in intangible assets and $54.6 million in goodwill[67] - The company reported a net cash used in investing activities of $103.8 million, up from $34.1 million in the previous year, primarily due to acquisitions of businesses[32] Debt and Financing - The Company completed a private offering of $400.0 million in Convertible Senior Notes due 2030, with a conversion price of approximately $23.11 per share[115][117] - The Company also completed a private offering of $375.0 million in Convertible Senior Notes due 2031, intended to fund the acquisition of WCI-Gigawatt Intermediate Holdco, LLC for approximately $585.0 million[121] - The term loan was refinanced, reducing the applicable margin rate from 2.75% to 2.25%, with a maturity date extended to June 5, 2032[99] Comprehensive Income and Other Adjustments - Other comprehensive income for the quarter is $20.5 million, compared to a loss of $5.5 million in the previous quarter[24] - Accumulated other comprehensive loss decreased from $93.0 million as of December 31, 2024, to $57.1 million as of September 30, 2025[211] - Cumulative foreign currency translation adjustment improved from $(93.6) million to $(28.5) million during the same period[211] Forward-Looking Statements - The discussion includes forward-looking statements that involve risks and uncertainties, indicating potential variability in actual results[213] - The company expects to recognize approximately 26%, 35%, 14%, and 7% of the remaining performance obligations as revenue during 2025, 2026, 2027, and 2028, respectively[51]