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Sep 30, 2023
GE HealthCare Q3 2023 Earnings Report
GE HealthCare reported a strong quarter with revenue growth and margin performance, demonstrating progress on productivity and price. Cash performance was strong due to improved inventory management.
Key Takeaways
GE HealthCare reported a 5% increase in revenue, with organic revenue growth of 6%. Net income was $375 million, and adjusted EBIT was $744 million. The company raised the low end of its full-year Adjusted EPS guidance range.
Revenue increased by 5% year-over-year, with organic revenue growth of 6%.
Net income attributable to GE HealthCare was $375 million.
Cash flow from operating activities was $650 million.
The company raised the low end of full-year Adjusted EPS guidance range.
Revenue by Segment
Forward Guidance
Full year 2023 guidance is as follows: •Organic revenue growth* in the range of 6% to 8% year-over-year. •Adjusted EBIT margin* in the range of 15.0% to 15.5%, reflecting an expansion of 50 to 100 basis points versus 2022 Standalone Adjusted EBIT margin* of 14.5%. •Adjusted effective tax rate (ETR)* in the range of 23% to 25%. •Adjusted EPS* in the range of $3.75 to $3.85, raising the low end of range, and representing 11% to 14% growth versus Standalone Adjusted EPS* of $3.38 for 2022. The prior range was $3.70 to $3.85. •Free cash flow conversion* of 85% or more for the full year.
Positive Outlook
- Organic revenue growth in the range of 6% to 8% year-over-year.
- Adjusted EBIT margin in the range of 15.0% to 15.5%, reflecting an expansion of 50 to 100 basis points versus 2022 Standalone Adjusted EBIT margin of 14.5%.
- Adjusted effective tax rate (ETR) in the range of 23% to 25%.
- Adjusted EPS in the range of $3.75 to $3.85, raising the low end of range, and representing 11% to 14% growth versus Standalone Adjusted EPS of $3.38 for 2022.
- Free cash flow conversion of 85% or more for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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