GE HealthCare

GE HealthCare Reports Fourth Quarter and Full Year 2023 Financial Results Delivers Strong Financial and Operating Performance in First Year as Public Company Fourth Quarter 2023 — Revenue growth was 5% year-over-year; Organic revenue growth* of 5% — Net income margin was 7.7% versus 11.2% for the prior year; Adjusted Earnings Before Interest and Taxes (EBIT) margin* was 16.1% versus the fourth quarter of 2022 Standalone Adjusted EBIT margin* of 16.1% — Cash flow from operating activities was $1.1 billion versus $1.1 billion for the prior year; Free cash flow* was $956 million versus $987 million; repaid $850 million of debt in the fourth quarter of 2023 and an additional $150 million of debt in January 2024 Full Year 2023 — Revenue growth was 7% year-over-year; Organic revenue growth* of 8% — Net income margin was 8% versus 10.4% for the prior year; Adjusted EBIT margin* was 15.1% versus 2022 […]

GE HealthCare (Nasdaq: GEHC) Sees 2024 Adj EPS $4.20-Adj EPS $4.35.

GE HealthCare Technologies Inc.’s stock (GEHC) rose 0.9% early Tuesday, after the company posted better-than-expected profit and revenue for the fourth quarter, offsetting soft guidance for 2024. GE HealthCare, which was spun out of General Electric Co. in January of 2023 and houses its medical device business, posted net income of $403 million, or 88 cents a share, for the quarter, down from $554 million, or $1.21 a share, in the year-earlier period. Adjusted per-share earnings came to $1.18, ahead of the $1.07 FactSet consensus. Revenue rose 5% to $5.2 billion, also ahead of the $5.1 billion FactSet consensus. The company is now expecting 2024 adjusted EPS of $4.20 to $4.35, while FactSet is expecting $5.74. The stock has gained 2% in the last 12 months, while the S&P 500 has gained 20%.

By Rob Curran GE HealthCare Technologies’ fourth-quarter net income fell 27% even as revenue rose, and the maker of medical machinery forecast growth in 2024 demand. The Silver Springs, Md., maker of magnetic-resonance imaging scanners and other health-care machines, posted fourth-quarter earnings of $403 million, down from $554 million a year earlier. Per-share earnings from continuing operations fell to 88 cents a share from $1.21 a share. Excluding certain one-off items, GE HealthCare posted adjusted earnings of $1.18 a share, topping the average Wall Street target of $1.07 a share, based on an analyst survey from FactSet. Fourth-quarter revenue rose 5% to $5.2 billion, also surpassing the mean analyst estimate $5.09 billion, as tallied by FactSet. Imaging revenue rose 4% to $2.8 billion. Revenue from pharmaceutical diagnostics surged 25% to $591 million. Ultrasound revenue ticked down 1% to $944 million. Revenue at the patient-care solutions unit rose 5% to $827

GE HealthCare Reports Third Quarter 2023 Financial Results — Revenue growth was 5% year-over-year; Organic revenue growth* of 6% — Net income attributable to GE HealthCare was $375 million versus $487 million for the prior year; Adjusted EBIT* $744 million versus $700 million — Net income margin was 7.8% versus 10.6% for the prior year; Adjusted EBIT margin* was 15.4% versus Standalone EBIT margin* of 14.2% — Diluted EPS was $0.83 versus $1.07 for the prior year; Adjusted EPS* was $0.99 versus Standalone Adjusted EPS* of $0.87 — Cash flow from operating activities was $650 million versus $622 million for the prior year; Free cash flow* was $570 million versus $548 million — The Company raises low end of full-year Adjusted EPS* guidance range CHICAGO—-October 31, 2023– GE HealthCare (Nasdaq: GEHC), a leading global precision care innovator, today reported financial results for the third quarter ended September 30, 2023. GE

By Eleanor Laise New ultrasound technology has potential to regulate metabolic function, early-stage clinical research shows GE HealthCare Technologies Inc. (GEHC) on Thursday said it is teaming up with Novo Nordisk (NVO) to develop an ultrasound treatment for type 2 diabetes and obesity. The collaboration is focused on peripheral focused ultrasound, a new technology with potential to regulate metabolic function–without drugs, GE HealthCare said in a release. Early-stage clinical research suggests this type of ultrasound can affect diabetes patients’ glucose metabolism by stimulating nerve pathways, the company said. More than 37 million people in the U.S. have diabetes, according to the Centers for Disease Control and Prevention, and 90% to 95% of them have type 2 diabetes. “This collaboration with Novo Nordisk opens a path to evolve ultrasound from a means of screening and diagnosis into therapy, as well,” Roland Rott, president and CEO of GE HealthCare’s ultrasound business, said

GE HealthCare Technologies (NASDAQ:GEHC) reported Q2 adjusted earnings  of $0.92 per diluted share, down from $1.15 a year earlier. Analysts polled by Capital IQ expected $0.87. Revenue for the quarter ended June 30 was $4.82 billion, compared with $4.48 billion a year ago. Analysts surveyed by Capital IQ expected $4.79 billion. The company said it expects full-year 2023 adjusted earnings of $3.70 to $3.85 per diluted share, compared with $3.60 to $3.75 anticipated previously. Analysts polled by Capital IQ expect $3.74.