Core Insights - GE HealthCare (GEHC) reported Q4 2025 adjusted EPS of $1.44, exceeding the Zacks Consensus Estimate of $1.43 by 0.7%, but down 0.7% year over year. GAAP EPS was $1.29, a decline of 17.8% from the previous year [1] - For the full year, adjusted EPS increased by 2.2% to $4.59, while GAAP EPS rose 4.8% to $4.55 [1] Revenue Details - Revenues reached $5.7 billion, reflecting a 7.1% year-over-year increase on a reported basis and 4.8% organically, surpassing the Zacks Consensus Estimate by 1.9%. Total company orders grew 2% year over year organically, with a book-to-bill ratio of 1.06X [2][7] - Full-year revenues increased by 4.8% to $20.6 billion, with organic sales growth of 3.5% [3] Segmental Performance - Imaging segment revenues were $2.55 billion, up 6.6% year over year, while segment EBIT decreased by 12.5% to $264 million [4] - Advanced Visualization Solutions generated $1.53 billion in revenues, a 5.9% increase year over year, with EBIT rising 0.7% to $376 million [4] - Patient Care Solutions revenues fell to $825 million, down 0.3% year over year, with EBIT declining 29.6% to $74 million [5] - Pharmaceutical Diagnostics saw revenues of $790 million, up 22.3% year over year, with EBIT increasing by 10% to $234 million [5] Margins and Financial Position - The net income margin was 10.3%, down 320 basis points from the prior year due to tariffs and product mix, although volume and pricing benefits partially offset this decline [6][7] - At the end of Q4, GEHC had cash, cash equivalents, and investments totaling $4.51 billion, an increase from $4.03 billion in the previous quarter. Total assets rose to $36.91 billion from $36.13 billion sequentially [9] 2026 Guidance - GE HealthCare anticipates organic revenue growth of 3-4% for 2026 and adjusted EPS in the range of $4.95-$5.15, indicating a year-over-year growth of 7.9-12.3%. The Zacks Consensus Estimate for 2026 revenues and EPS is $21.38 billion and $4.94, respectively [10] Strategic Initiatives - The company is focused on inorganic growth through acquisitions, having acquired Nihon Medi-Physics and icometrix in 2025, and is set to acquire Intelerad in the first half of 2026 to enhance its cloud-enabled enterprise imaging capabilities [14] - Continued investment in R&D and new product introductions, including advanced imaging systems and AI-enabled diagnostics, underscores GE HealthCare's commitment to precision care and digital transformation [15]

Core Insights - The company is positioned as the only diagnostic imaging firm with a comprehensive portfolio of contrast media and radiopharmaceuticals, leveraging a D3 strategy that integrates smart devices and drugs with digital AI and cloud technology to enhance diagnostic accuracy and therapy delivery [1] - The company reported a strong vitality rate of 55% for new products, indicating that a significant portion of revenue is derived from recent innovations, which is a positive sign for customer satisfaction and market relevance [1] - Financial performance in 2025 exceeded expectations, with organic revenue growth of 3.5% and a record backlog of $21.8 billion, reflecting robust demand in the US and EMEA markets [13][15] Strategic Developments - The acquisition of IntelliRed is expected to generate approximately $270 million in revenue, growing in the low double digits, and will enhance the company's cloud-first imaging ecosystem [2][3] - The company has secured multiple large agreements, including a seven-year partnership with the University of Rochester Medical Center, which will advance diagnostics and precision medicine [3] - The Heartbeat business system is being implemented to improve operational efficiency and customer experience, contributing to margin expansion and productivity [10][12] Product and Market Performance - The company has seen strong performance in pharmaceutical diagnostics, with double-digit organic revenue growth, and mid-single-digit growth in imaging and advanced visualization solutions [4][18] - New product launches, such as the VividPioneer cardiovascular ultrasound system, are contributing to revenue growth and strengthening the company's market position [5][19] - The service business grew mid-single digits, supported by a growing installed base and the introduction of advanced products, which are expected to increase service agreement capture rates [8][60] Financial Metrics - In the fourth quarter, the company reported revenue of $5.7 billion, with product revenue growing 7.9% and service revenue increasing 5.5% [13] - Adjusted EPS for the fourth quarter was $1.44, reflecting a slight decline due to tariff impacts, but showing an 11% growth when excluding these effects [14] - For 2026, the company anticipates organic revenue growth of 3% to 4%, with adjusted EBIT margins expected to expand by 50 to 80 basis points [23][24] Future Outlook - The company is optimistic about the potential for additional margin expansion and revenue growth driven by new product introductions and strategic acquisitions [27][56] - The capital equipment environment remains healthy, with a positive outlook for investment in diagnostic imaging technologies, particularly in the US and European markets [75][78] - The company is taking a cautious approach to the Chinese market, anticipating a decline in 2026 but remaining open to potential upside as market conditions evolve [38][39]

Financial Data and Key Metrics Changes - The company reported revenue of $5.7 billion for Q4 2025, growing 4.8% organically year-over-year, exceeding expectations [14] - Full year revenue reached $20.6 billion, with organic growth of 3.5%, ahead of guidance [15] - Adjusted EBIT margin for 2025 was 15.3%, a decline of 100 basis points year-over-year, impacted by approximately $245 million in tariff expenses [16] - Adjusted EPS for 2025 was $4.59, growing 2.2%, with a tariff impact of $0.43 [16] - Free cash flow for Q4 was $916 million, up $105 million year-over-year, and $1.5 billion for the full year [15][22] Business Line Data and Key Metrics Changes - **Imaging**: Organic revenue grew 5.3% in Q4, driven by strong performance in EMEA and the U.S., particularly in nuclear medicine [17] - **Advanced Visualization Solutions**: Organic revenue increased 4.2% in Q4, supported by new product adoption [18] - **Patient Care Solutions**: Organic revenue declined 1.1% year-over-year due to a drop in life support solutions, but EBIT margin improved sequentially [19] - **Pharmaceutical Diagnostics**: Achieved organic sales growth of 12.7%, driven by global growth in contrast media [20] Market Data and Key Metrics Changes - Demand in the U.S. and EMEA remained strong, with a record backlog of $21.8 billion, growing $2 billion year-over-year [14] - The company secured multiple large agreements, including a significant collaboration with Sutter Health and a multi-year agreement with the Ministry of Health in Indonesia [10][11] Company Strategy and Development Direction - The company is focused on an innovation renaissance, emphasizing integrated solutions for complex and chronic diseases [4] - The strategic framework includes precision care, growth acceleration, and business optimization, with a strong emphasis on the Heartbeat business system to improve productivity and customer experience [11][12] - The planned acquisition of Intelerad is expected to enhance the company's cloud-first imaging ecosystem and drive recurring revenue [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver over $500 million in Flyrcado revenue by year-end 2028, viewing it as a billion-dollar opportunity in the long run [10] - The company anticipates organic revenue growth of 3%-4% for 2026, with a cautious outlook on China impacting overall guidance [22][23] - Management highlighted the importance of new product launches and regulatory approvals in driving future growth [30] Other Important Information - The company has made significant investments in innovation, totaling over $1.7 billion in 2025, to strengthen competitiveness and support growth [17] - The company is focused on expanding recurring revenue through service agreements and has seen positive trends in service growth [72] Q&A Session Summary Question: Can you provide more color on the 2% order growth and outlook for orders in 2026? - Management noted a robust book-to-bill ratio of 1.06x and a record backlog, indicating a solid order backdrop despite a challenging first quarter comparison [27][28] Question: What is the current state of Flyrcado and its adoption? - Management reported positive feedback from clinicians regarding Flyrcado's image quality and convenience, with consistent delivery rates improving [31][32] Question: How should we think about the assumptions for China and potential EPS upside? - Management took a cautious approach regarding China, anticipating a decline in 2026 but noting improvements in VBP win rates and a robust imaging funnel [40][41] Question: Can you elaborate on the pricing strategy for 2026? - Management indicated that while there are no significant price increases expected initially, new product launches may lead to better pricing opportunities later in the year [77] Question: What is the status of the Intelerad acquisition? - The acquisition is expected to close in the first half of the year and is anticipated to enhance the company's capabilities in cloud-enabled AI solutions [79][80]

Financial Data and Key Metrics Changes - The company reported revenue of $5.7 billion for Q4 2025, representing a 4.8% organic growth year-over-year, exceeding expectations [14] - For the full year 2025, revenue reached $20.6 billion, with organic growth of 3.5%, ahead of guidance [16] - Adjusted EBIT margin for Q4 was 16.7%, down 200 basis points due to tariff expenses and unfavorable mix [14] - Adjusted EPS for Q4 was $1.44, down 0.7%, but grew 11% when excluding tariff impacts [15] - Free cash flow for Q4 was $916 million, up $105 million year-over-year [15] Business Line Data and Key Metrics Changes - Pharmaceutical Diagnostics saw organic sales growth of 12.7%, driven by global growth in contrast media and pricing execution [20] - Imaging organic revenue grew 5.3% in Q4, with strong performance in EMEA and the US, particularly in nuclear medicine [17] - Advanced Visualization Solutions reported organic revenue growth of 4.2%, supported by new product adoption [18] - Patient Care Solutions experienced a 1.1% decline in organic revenue due to a drop in life support solutions, but EBIT margin improved sequentially [19] Market Data and Key Metrics Changes - Demand in the U.S. and EMEA remained strong, with a record backlog of $21.8 billion, up $2 billion year-over-year [14] - The company secured multiple large agreements, including a significant collaboration with Sutter Health and a multi-year agreement with the Ministry of Health in Indonesia [10][11] Company Strategy and Development Direction - The company is focused on an innovation renaissance, emphasizing integrated solutions for complex and chronic diseases [4] - The strategic framework includes precision care, growth acceleration, and business optimization, with a strong emphasis on the Heartbeat business system to drive productivity and customer experience [11][12] - The planned acquisition of Intelerad is expected to enhance the company's cloud-first imaging ecosystem and drive recurring revenue [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver over $500 million in Flyrcado revenue by year-end 2028, viewing it as a billion-dollar opportunity in the long run [10] - The company anticipates organic revenue growth of 3%-4% for 2026, with a cautious outlook on China impacting overall guidance [22][23] - Management highlighted the importance of new product launches and regulatory approvals in driving future growth [30] Other Important Information - The company has made significant investments in innovation, deploying over $1.7 billion in 2025 to strengthen competitiveness [17] - The service business grew mid-single digits in 2025, with expectations for increased capture rates of service agreements due to new product launches [11] Q&A Session Summary Question: Can you provide more color on the 2% order growth and outlook for orders in 2026? - Management noted a robust order backdrop with a book-to-bill ratio of 1.06 times and a record backlog, indicating a solid setup for 2026 [27][28] Question: What is the current state of Flyrcado and its adoption? - Management reported positive feedback from clinicians regarding Flyrcado's image quality and convenience, with consistent delivery rates improving [31][32] Question: How should we think about the potential upside in EPS related to China? - Management took a cautious approach regarding China, anticipating a decline in 2026 but noting improvements in VBP win rates and a robust imaging funnel [40][41] Question: Can you elaborate on the timing of orders and sales for new products? - Management indicated that significant new product launches are on track, with expected contributions primarily in 2027, but some impact anticipated in 2026 [60][61] Question: What are the expectations for pricing in 2026? - Management indicated that while there are no significant price increases expected initially, new products may lead to higher pricing as they are introduced [77]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenue of $5.7 billion, representing a 4.8% organic growth year-over-year, exceeding expectations [13] - For the full year 2025, total revenue reached $20.6 billion, with organic growth of 3.5%, ahead of guidance [15] - Adjusted EBIT margin for Q4 was 16.7%, down 200 basis points due to tariff expenses and unfavorable mix [13] - Adjusted EPS for Q4 was $1.44, down 0.7%, but grew 11% when excluding tariff impacts [14] - Free cash flow for Q4 was $916 million, up $105 million year-over-year [15] Business Line Data and Key Metrics Changes - Pharmaceutical Diagnostics saw organic sales growth of 12.7%, driven by global growth in contrast media and pricing execution [19] - Imaging organic revenue grew 5.3% in Q4, with strong performance in EMEA and the US, particularly in nuclear medicine [17] - Advanced Visualization Solutions reported a 4.2% organic revenue increase, supported by new product adoption [18] - Patient Care Solutions experienced a 1.1% decline in organic revenue due to a drop in life support solutions, but EBIT margin improved sequentially [19] Market Data and Key Metrics Changes - Demand in the U.S. and EMEA remained strong, with a record backlog of $21.8 billion, up $2 billion year-over-year [13] - The company secured multiple large agreements, including a significant collaboration with the University of Rochester Medical Center [4] - The capital equipment environment in the U.S. is robust, with many customers planning to increase investments in 2026 [3] Company Strategy and Development Direction - The company is focused on an innovation renaissance, emphasizing integrated solutions for complex and chronic diseases [3] - The strategic framework includes precision care, growth acceleration, and business optimization, with a strong emphasis on the Heartbeat business system to drive productivity and customer experience [10][11] - The planned acquisition of Intelerad is expected to enhance the company's cloud-first imaging ecosystem and drive recurring revenue [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering over $500 million in Flyrcado revenue by year-end 2028, with a long-term billion-dollar opportunity [9] - The outlook for 2026 includes organic revenue growth of 3%-4%, with a cautious approach to the Chinese market [22] - Management anticipates a decline in China for 2026 but sees potential upside if conditions improve [41] Other Important Information - The company deployed over $1.7 billion in innovation investment in 2025, prioritizing programs that strengthen competitiveness [17] - The service business grew mid-single digits in 2025, with expectations for increased capture rates of service agreements due to new product launches [10] Q&A Session Summary Question: Can you provide more color on the 2% order growth and outlook for orders in 2026? - Management noted a robust order backdrop with a book-to-bill ratio of 1.06 times and a record backlog, indicating a positive setup for 2026 [27][28] Question: What is the current state of Flyrcado and its adoption? - Management reported positive feedback from clinicians regarding Flyrcado's image quality and convenience, with consistent delivery rates improving [31][32] Question: How does the company view the situation in China and its impact on EPS? - Management took a cautious approach regarding China, anticipating a decline in 2026 but monitoring for potential upside as conditions evolve [40][41] Question: Can you elaborate on the assumptions for 2026 EPS guidance? - Management explained that the guidance reflects expected volume growth and cost initiatives, with a focus on maintaining investments in growth [44][48] Question: What is the status of the Intelerad acquisition? - The acquisition is expected to close in the first half of the year, enhancing the company's capabilities in cloud-enabled AI solutions [79][80]

GE HealthCare Technologies (GEHC) came out with quarterly earnings of $1.44 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.00%. A quarter ago, it was expected that this medical technology company would post earnings of $1.05 per share when it actually produced earnings of $1.07, delivering a surprise of +1.9%.Over the las ...

4Q and Full Year 2025 Earnings Presentation February 4, 2026 © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license. Forward-looking statements and additional information This presentation contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as "will," "expect," "may," "would," "could," "plan," "believe," "anticipate," "intend," "estimate," "potential," "position," "forecast," "target," "gu ...

Core Viewpoint - GE HealthCare has projected annual profit exceeding Wall Street estimates, driven by strong demand for its diagnostic and imaging devices [1] Group 1: Financial Forecast - The company anticipates annual profit to surpass market expectations, indicating positive financial performance [1] Group 2: Market Demand - There is a robust demand for GE HealthCare's diagnostic and imaging devices, which is a key factor in the company's optimistic profit forecast [1]

Core Viewpoint - GE HealthCare reported better-than-expected fourth-quarter earnings, indicating strong performance in the healthcare sector [1] Financial Performance - The company reported earnings per share of $1.44, surpassing Wall Street's expectation of $1.40 [1] - Sales for the quarter reached $5.7 billion, slightly above the anticipated $5.6 billion [1]

Core Viewpoint - GE HealthCare Technologies reported a decline in profit during the fourth quarter, despite an increase in revenue, indicating challenges in a dynamic macroeconomic environment [1] Financial Performance - The company experienced a profit decrease in the fourth quarter, highlighting potential operational challenges [1] - Revenue increased, suggesting that sales growth is not translating into higher profitability [1] Macroeconomic Environment - The Chief Executive, Peter Arduini, described the current operating conditions as dynamic, which may be impacting the company's financial performance [1]