GE HealthCare Q2 Performance: Beats Expectations, Lifts FY23 Outlook

GE HealthCare Technologies Inc GEHC has reported Q2 FY23 sales of $4.82 billion, up 7% Y/Y and 9% on an organic basis, beating the consensus of $4.79 billion. Foreign exchange negatively impacted growth by 2%.

Net income attributable to GE HealthCare was $418 million versus $485 million for the prior year, and Adjusted EBIT was $711 million versus $719 million.

Also Read: GE HealthCare's Solid Demand And Sensible Margin Targets: Morgan Stanley Sees Potential Upside Despite Street's High Expectations.

The company posted an adjusted EPS of $0.92, compared to $1.15 in the prior year, beating the consensus of $ $0.87.

Imaging segment revenues of $2.6 billion increased by 7% reported and 9% organic. Ultrasound segment sales of $839 million increased by 1% reported and 3% organic.

Patient Care Solutions revenues of $770 million increased by 8% reported and 9% organic. Pharmaceutical Diagnostics sales increased 19% reported and 20% organic to $568 million.

Guidance: GE HealthCare raised its FY23 organic revenue growth outlook to 6% - 8% Y/Y from a prior range of 5%-7%.

The company forecasts adjusted EPS of $3.70-$3.85 compared to previous guidance of $3.60-$3.75 vs. $3.74 consensus.

Price Action: GEHC shares are up 0.74% $81.23 during the premarket session on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceHealth CarePre-Market OutlookMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!