Key TakeawaysGE HealthCare shares dropped in early trading Tuesday after the company reported first-quarter results that missed estimates.The medical device manufacturer reported revenue and net income below expectations, as sales in its Imaging, Ultrasound, and Patient Care Solutions segments fell from a year ago. Despite Tuesday's losses, GE HealthCare shares have gained since the start of the year. GE HealthCare (GEHC) shares tumbled over 9% in early trading Tuesday after the medical device manufacturer ...

GE HealthCare Technologies (GEHC) came out with quarterly earnings of $0.90 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this medical technology company would post earnings of $1.07 per share when it actually produced earnings of $1.18, delivering a surprise of 10.28%.Over the last four quarters, the company has surpassed consensus EPS estimates three times ...

Financial Performance - Total revenues for the three months ended March 31, 2024, were $4,650 million, a decrease of 1% or $57 million compared to the same period in 2023[130] - Net income attributable to GE HealthCare for the three months ended March 31, 2024, was $374 million, compared to $372 million in the same period of 2023, reflecting no significant change[139] - Adjusted EBIT for the three months ended March 31, 2024, was $681 million, an increase of 3% compared to $664 million in the same period of 2023[139] - Operating income for the three months ended March 31, 2024, was $540 million, a decrease of 3% from $559 million in the same period of 2023[139] - Total revenues for the three months ended March 31, 2024, were $4.65 billion, a decrease of 1% from $4.71 billion in the previous year[155] - Adjusted net income for Q1 2024 was $413 million, a 6% increase from $388 million in Q1 2023[161] - Diluted earnings per share for Q1 2024 increased to $0.90, up from $0.85 in Q1 2023, reflecting a $0.05 increase[165] Segment Performance - Imaging segment revenues were $2,466 million, decreasing 1% or $30 million, while Ultrasound segment revenues were $824 million, decreasing 4% or $35 million[136] - Imaging Segment EBIT increased by 26% to $240 million, while Ultrasound Segment EBIT decreased by 12% to $182 million[144] Revenue Sources - Revenues from the China region decreased 11% to $597 million, reflecting declines in all segment revenues following double-digit growth in the prior year[136] - The company generated revenues of $77 million from customers in Russia and Ukraine for the three months ended March 31, 2024, compared to $78 million in the same period of 2023[125] Costs and Expenses - The total cost of products sold was $1,967 million, a decrease of 3% or $70 million compared to $2,037 million in the same period of 2023[130] - Research and development expenses increased to $324 million for the three months ended March 31, 2024, compared to $270 million in the same period of 2023[130] - Research and Development (R&D) investments increased by $54 million, leading to a 120 basis point increase in R&D as a percentage of total revenues[140] - Cost of products sold decreased by $70 million, contributing to a gross profit increase of $11 million or 70 basis points as a percentage of total revenues[140] Cash Flow and Debt - Free cash flow for Q1 2024 was $274 million, a 16% decrease from $325 million in Q1 2023[168] - Cash from operating activities in Q1 2024 was $419 million, down 11% from $468 million in Q1 2023[173] - Total debt as of March 31, 2024, was $9,255 million, a decrease from $9,442 million as of December 31, 2023[183] - The company has access to $3,500 million in revolving credit facilities to support liquidity needs[171] Tax and Financial Charges - Interest and other financial charges – net decreased by $14 million, primarily due to lower overall borrowings[140] - The effective tax rate for Q1 2024 was 24.2%, down from 29.9% in Q1 2023[167] Capital Expenditures - Cash used for investing activities in Q1 2024 was $188 million, compared to $266 million in Q1 2023[173] - Capital expenditures for Q1 2024 were $145 million, primarily for manufacturing capacity expansion and new product introductions[180] Credit Ratings - As of April 23, 2024, the company's long-term credit ratings were Baa2 from Moody's, BBB from S&P, and BBB from Fitch, all with a stable outlook[189]

Exhibit 99 GE HealthCare Reports First Quarter 2024 Financial Results Chicago, IL – April 30, 2024 – GE HealthCare (Nasdaq: GEHC), a leading global precision care innovator, today reported financial results for the first quarter ended March 31, 2024. GE HealthCare President and CEO Peter Arduini said, "We made good progress against 2024 priorities in the first quarter. We delivered margin expansion, while continuing to invest in innovation to solve the evolving needs of customers and patients. This is refle ...

 Analyst Estimates for Q1 2024Q4 2023Q1 2023Revenue$4.81 billion$5.21 billion$4.71 billionDiluted EPS$0.88$0.88$0.41Net Income$391.52 million$403 million$372 million Key Metric: Research and Development Spending The company said in its fourth-quarter earnings report that it spent about $1.21 billion on research and development over fiscal 2023, an important part of which was investments in artificial intelligence (AI). In its Q4 presentation, GE HealthCare said its investments in technology including AI ...

GE HealthCare Technologies Inc. (GEHC) is scheduled to report first-quarter 2024 results on Apr 30, before market open.In the last reported quarter, the company’s adjusted earnings per share of $1.18 surpassed the Zacks Consensus Estimate by 10.3%.Let’s take a look at how things have shaped up prior to the announcement.Factors at PlayGE HealthCare is expected to report strong organic revenue growth, banking on balanced segmental performance driven by consistent new product introductions (NPIs) and growing c ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about GE HealthCare Technologies (GEHC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.GE HealthCare currently ...

The latest trading session saw GE HealthCare Technologies (GEHC) ending at $86.21, denoting a +1.96% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.The medical technology company's shares have seen a decrease of 4.5% over the last month, surpassing the Medical sector's loss of 5.82% and falling behind the S&P 500's loss of 4.16%.Investors will be eagerly watching for the performance o ...

GE HealthCare Technologies Inc. (GEHC) recently announced the expansion of its relationship with Elekta. The new collaboration follows the closing of GEHC’s acquisition of MIM Software Inc., which added the MIM SurePlan and MIM Symphony families, MIM Maestro and MIM Encore, among others, to its product portfolio.The collaboration is aimed at accelerating innovation in software solutions that will likely improve workflows, increase throughput and enhance user experience for clinicians. It is also expected to ...

The latest trading session saw GE HealthCare Technologies (GEHC) ending at $84.55, denoting a +0.07% adjustment from its last day's close. This change lagged the S&P 500's 0.87% gain on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.Heading into today, shares of the medical technology company had lost 5.84% over the past month, outpacing the Medical sector's loss of 6.67% and lagging the S&P 500's loss of 3.97% in that time.The upcoming e ...