GE HealthCare Q1 revenue up 12% organic; adjusted EPS $0.85; reaffirms FY guidance

GE HealthCare Technologies Inc.

2023-Q1 EPS reported $0.41 revenue$4,707,000,000

Revenue $4.7B, +8% reported, +12% organic; strong across all segments: Imaging, Ultrasound, PCS, PDx.
Net income attributable $372M; adjusted EBIT $664M, margin 14.1% (+30bps); adjusted EPS $0.85 vs $0.96.
Cash from ops $468M, free cash flow $325M; FY guidance: organic revenue growth 5-7%, adj. EPS $3.60-$3.75.
Board declares dividend $0.03/share; FY adjusted EBIT margin guided 15.0-15.5%.
Segment margins: Imaging 7.7% (down), Ultrasound 24.1% (up), PCS 14.0% (up), PDx 27.8% (down).

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GE HealthCare Technologies Inc. reported First Quarter 2023 results: revenue $4.7 billion, net income $372 million, EPS $0.41. Guidance reaffirmed.

Period: First Quarter 2023
Revenue: $4.7 billion
Net income: $372 million
EPS: $0.41
Guidance: reaffirmed
Result: reported results

Exact text from the filing

• Revenues of $4.7 billion increased 8% reported and 12% on an Organic basis* year-over-year. Foreign exchange negatively impacted growth by 4%. Total company book-to-bill, defined as Total orders divided by Total revenues, was 1.01 times for the quarter, given strong revenue growth across all segments, led by Pharmaceutical Diagnostics (PDx) recurring sales. • Net income attributable to GE HealthCare was $372 million versus $389 million for the prior year, and Adjusted EBIT* was $664 million versus $599 million. • Net income margin was 7.9% versus 9.0% for the prior year, down 110 basis points (bp s) primarily impacted by interest expense. Adjusted EBIT margin* was 14.1% versus 13.8%, up 30 bps driven by volume, partially offset by mix. Inflation and planned investments were mostly offset by price and productivity actions. Adjusted EBIT margin* for the first quarter of 2023 grew 150 bps versus our estimated 1Q’22 Standalone Adjusted EBIT margin*. • Earnings per share (EPS) f rom conti

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accession 0001932393-23-000086

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