GE HealthCare Hits Record Backlog, Stock Jumps
GE HealthCare Technologies Inc. (NASDAQ: GEHC ) stock rose Wednesday after the company reported second-quarter results that topped Wall Street estimates, driven by strength in its imaging and pharmaceutical diagnostics businesses. The medical technology company reported adjusted earnings of $1.13 per share, exceeding the analyst consensus estimate of $1.03. Revenue increased 5.7% year over year to $5.30 billion, beating the consensus estimate of $5.26 billion. GE HealthCare ended the second quarter with a record backlog of $23.9 billion, up $2.6 billion from a year earlier, as strong demand for its imaging equipment, pharmaceutical diagnostics portfolio and AI-enabled products drove 11.1% organic orders growth. The company also posted a record book-to-bill ratio of 1.15, signaling orders continued to outpace shipments and providing greater visibility into future revenue. Imaging, Diag...
GE HealthCare Technologies Inc. (NASDAQ: GEHC ) stock rose Wednesday after the company reported second-quarter results that topped Wall Street estimates, driven by strength in its imaging and pharmaceutical diagnostics businesses. 03. 26 billion.
1% organic orders growth. 15, signaling orders continued to outpace shipments and providing greater visibility into future revenue. , Europe, the Middle East and Africa, and the Rest of World regions. 4% growth a year earlier.
6% to $843 million. 3% to $675 million. The company said new product launches and AI-enabled innovations continued to strengthen its competitive position and customer relationships. Patient Care Business Under Review Chief Executive Officer Peter Arduini said GE HealthCare is reviewing strategic options for its Patient Care Solutions business while working to restore growth and profitability.
“Our continued investment in precision innovation is expanding our addressable markets, strengthening our competitive position and supporting durable short- and long-term growth,” Arduini said. 87. 7%, representing year-over-year expansion of 10 to 40 basis points. Management said it continues to expect approximately $250 million in inflation-related costs tied to memory chips, oil, freight and other components.
CFO Transition Earlier this week, GE HealthCare said Chief Financial Officer Jay Saccaro will step down effective Aug. 14. George Newcomb, the company’s controller and chief accounting officer, will serve as interim CFO while the company searches for a permanent successor. During the earnings call, management reiterated confidence in its medium-term outlook, targeting revenue and margin expansion through 2028.
The company said it expects to launch new anesthesia, monitoring and digital products later this year and in 2027. 25 at the time of publication on Wednesday, according to Pro data. Photo via Shutterstock Read Also: SoFi Stock Falls Despite Q2 Earnings Beat and Raised Guidance: What Investors Need to Know