GE Healthcare Technologies Inc GEHC reported Q3 FY23 sales of $4.82 billion, up 5% Y/Y and 6% on an organic basis, slightly beating the consensus of $4.80 billion, driven by volume and price.
Net income attributable to GE HealthCare was $375 million versus $487 million for the prior year, and Adjusted EBIT was $744 million versus $700 million.
Also Read: Citi Is Bullish On 125-Year-Old GE HealthCare Stock.
The company posted an adjusted EPS of $0.99, compared to $1.20 in the prior year, beating the consensus of $ $0.90.
Imaging segment revenues of $2.6 billion increased by 5%. Ultrasound segment sales of $815 million fell 1%.
Patient Care Solutions revenues of $764 million increased by 9%. Pharmaceutical Diagnostics sales increased 13% reported and 12% organic to $589 million.
Guidance: GE Healthcare forecasts FY23 adjusted EPS Of $3.75-$3.85 versus standalone FY22 adjusted EPS of $3.38, prior guidance of $3.70-$3.85, and consensus of $3.79.
The company reaffirms FY23 organic revenue growth of 6%-8% year-over-year.
GE Healthcare sees FY23 adjusted EBIT margin of 15.0%-15.5%, reflecting an expansion of 50 to 100 basis points versus 2022 Standalone Adjusted EBIT margin of 14.5%.
Price Action: GEHC shares are up 6.20% to $67.09 on the last check Tuesday.
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