Business
GE HealthCare reports third quarter 2024 financial results
Revenue growth was 1% year-over-year; Organic revenue growth* was 1% Net income margin was 9.7% versus 7.8% for the prior year; Adjusted earnings before
About this update from Ge Healthcare Technologies Inc.
[{"type":"text","content":"\n\nRevenue growth was 1% year-over-year; Organic revenue growth* was 1%\n\n\nNet income margin was 9.7% versus 7.8% for the prior year; Adjusted earnings before interest and taxes (EBIT) margin* was 16.3% versus 15.4%\n\n\nDiluted earnings per share (EPS) were $1.02 versus $0.83 for the prior year; Adjusted EPS* was $1.14 versus $0.99\n\n\nCash flow from operating activities was $742 million versus $650 million for the prior year; Free cash flow* was $651 million versus $570 million\n\n\nCompany raises low end of full-year 2024 Adjusted EBIT margin* and Adjusted EPS* guidance with continued execution; trending toward the lower end of Organic revenue growth* range\n\n\n CHICAGO--(BUSINESS WIRE)--\nGE HealthCare (Nasdaq: GEHC) today reported financial results for the third quarter ended September 30, 2024.\n\nGE HealthCare President and CEO Peter Arduini said, “In the third quarter, we reported sales and orders growth of 1% globally. Both sales and orders grew in the mid-single digits excluding China, with particular strength in the U.S. across all segments. Pharmaceutical Diagnostics also delivered solid performance, driven by healthy procedure volumes. Ongoing lean initiatives across the organization are delivering better value to patients and customers and have resulted in robust margin expansion.”\n\nThird quarter 2024 total company financial performance\n\n\nRevenues of $4.9 billion increased 1% on both a reported and Organic* basis year-over-year. Positive revenue growth in the U.S. and in Pharmaceutical Diagnostics (PDx) was offset by continued market softness in China.\n\n\nTotal company book-to-bill was 1.04 times. Total company orders increased 1% organically year-over-year.\n\n\nNet income attributable to GE HealthCare was $470 million versus $375 million for the prior year, and Adjusted EBIT* was $795 million versus $744 million.\n\n\nNet income margin was 9.7% versus 7.8% for the prior year, up 190 basis points (bps). Adjusted EBIT margin* was 16.3% versus 15.4%, up 90 bps as both measures saw benefits from productivity and price.\n\n\nDiluted EPS was $1.02 versus $0.83, up $0.20 from the prior year. Adjusted EPS* was $1.14 versus $0.99, up $0.15 from the prior year as both measures saw improved EBIT and lower tax expense.\n\n\nCash flow from operating activities was $742 million, up $92 million year-over-year. Free ...