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