GE Healthcare reported mixed Q3 results with revenue slightly below, but earnings beat expectations.

From CNBC: 2024-10-30 13:55:36

GE Healthcare reported a mixed quarter with revenue slightly below expectations at $4.86 billion in Q3, but an earnings beat of $1.14 per share. Despite continued weakness in China, management raised full-year guidance. The company exited the quarter with a $19.6 billion backlog and sees long-term growth potential. GE Healthcare is a leader in medical imaging and diagnostics, investing in R&D and new products. The rollout of new Alzheimer’s therapies and new products like Flyrcado are expected to drive future growth. Management sees an opportunity for over $500 million in annual revenue from Flyrcado. In the Imaging segment, revenue was down 1% due to China weakness but offset by U.S. growth. Other segments like Advanced Visualization Solutions and Patient Care Solutions saw growth. GE Healthcare expects full-year organic revenue growth to be at the lower end of 1-2% range due to China softness, but adjusted EBITDA and EPS guidance was raised. The company reiterated free cash flow guidance of $1.8 billion. (Jim Cramer’s Charitable Trust is long GEHC. See here for a full list of the stocks.)



Read more at CNBC:: We’re hiking our GEHC price target, looking beyond a mixed quarter to next year’s catalysts