Business
INSERTING and REPLACING GE HealthCare Reports Fourth Quarter and Full Year 2023 Financial Results
Delivers Strong Financial and Operating Performance in First Year as Public Company Fourth Quarter 2023 Revenue growth was 5% year-over-year; Organic revenue
About this update from Ge Healthcare Technologies Inc.
[{"type":"text","content":"\nDelivers Strong Financial and Operating Performance in First Year as Public Company\n\n\nFourth Quarter 2023\n\n\n\nRevenue growth was 5% year-over-year; Organic revenue growth* of 5%\n\n\n\nNet income margin was 7.7% versus 11.2% for the prior year; Adjusted Earnings Before Interest and Taxes (EBIT) margin* was 16.1% versus the fourth quarter of 2022 Standalone Adjusted EBIT margin* of 16.1%\n\n\n\nCash flow from operating activities was $1.1 billion versus $1.1 billion for the prior year; Free cash flow* was $956 million versus $987 million; repaid $850 million of debt in the fourth quarter of 2023 and an additional $150 million of debt in January 2024\n\n\n\nFull Year 2023\n\n\n\nRevenue growth was 7% year-over-year; Organic revenue growth* of 8%\n\n\n\nNet income margin was 8% versus 10.4% for the prior year; Adjusted EBIT margin* was 15.1% versus 2022 Standalone Adjusted EBIT margin* of 14.5%\n\n\n\nCash flow from operating activities was $2.1 billion versus $2.1 billion for the prior year, and Free cash flow* was $1.7 billion versus $1.8 billion last year, due to standalone interest and postretirement benefit payments\n\n\n\nCompany provides 2024 financial guidance, demonstrating progress toward medium-term financial targets\n\n\n\n \n\n\n CHICAGO--(BUSINESS WIRE)--\nInsertion of Fourth Quarter 2023 P&L labeled \"Consolidated and Combined Statements of Income\" following the 2024 Guidance information.\n\n\nThe updated release reads:\n\n\nGE HEALTHCARE REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS\n\n\nDelivers Strong Financial and Operating Performance in First Year as Public Company\n\n\nFourth Quarter 2023\n\n\n\nRevenue growth was 5% year-over-year; Organic revenue growth* of 5%\n\n\n\nNet income margin was 7.7% versus 11.2% for the prior year; Adjusted Earnings Before Interest and Taxes (EBIT) margin* was 16.1% versus the fourth quarter of 2022 Standalone Adjusted EBIT margin* of 16.1%\n\n\n\nCash flow from operating activities was $1.1 billion versus $1.1 billion for the prior year; Free cash flow* was $956 million versus $987 million; repaid $850 million of debt in the fourth quarter of 2023 and an additional $150 million of debt in January 2024\n\n\n\nFull Year 2023\n\n\n\nRevenue growth was 7% year-over-year; Organic revenue growth* of 8%\n\n\n\nNet income margin was 8% versus 10.4% for the prior ye...