Ge Healthcare Technologies Inc. · NASDAQ:GEHC
Ge Healthcare Technologies — Q3 2025 Earnings Presentation
31 slides from Ge Healthcare Technologies's earnings presentation, Oct 29, 2025
Slide 1: 3Q 2025 Earnings Presentation
3Q 2025 Earnings Presentation October 29, 2025 © 2025 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 2: Forward-looking statements and additional information
Forward-looking statements and additional information This presentation contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” “believe,” “anticipate,” “intend,” “estimate
Slide 3: 3Q 2025 Update
3Q 2025 Update • Robust orders with growth across all segments; revenue performance driven by Imaging, Advanced Visualization Solutions and Pharmaceutical Diagnostics, above our expectations • Growth supported by innovative solutions, healthy capital equipment environment and global commercial execu
Slide 4: 3Q 2025 Consolidated performance summary
3Q 2025 Consolidated performance summary Revenues Organic orders Adjusted EBIT* and Adjusted EPS* Free cash flow* growth**(1) Adjusted EBIT margin* $5.1B 6% YoY $761M $1.07 $483M +4% Organic growth*(1) Book-to-Bill** 14.8% Margin (6)% YoY $(168)M YoY 1.06x (150) bps YoY YoY tariff impact of: YoY tar
Slide 5: 3Q 2025 Margin performance excluding tariffs driven by volume
3Q 2025 Margin performance excluding tariffs driven by volume • Margin impacted by tariff expense of ~$95M in Adjusted EBIT Margin* (150) bps YoY 3Q 2025 and ~$150M in 3Q YTD +30 bps YoY excluding tariffs • Volume growth underpinned by higher- 16.6% Ex-tariffs margin strategic innovation ~180 bps Ta
Slide 6: 3Q 2025 Imaging results
3Q 2025 Imaging results 3Q 2024 3Q 2025 YoY change Revenues $2,229M $2,349M 4%*(1) Segment EBIT $287M $240M (16)% Segment EBIT margin 12.9% 10.2% (260) bps Imaging TBA Highlights • Organic revenue growth* YoY with strength in EMEA & U.S. • EBIT margin declined YoY largely due to tariff impact • Cont
Slide 7: 3Q 2025 Advanced Visualization Solutions results
3Q 2025 Advanced Visualization Solutions results 3Q 2024 3Q 2025 YoY change Revenues $1,216M $1,301M 6%*(1) Segment EBIT $232M $271M 17% Segment EBIT margin 19.0% 20.9% 180 bps Highlights • Organic revenue growth* YoY driven primarily by strength in the U.S. and demand for new products • EBIT margin
Slide 8: 3Q 2025 Patient Care Solutions results
3Q 2025 Patient Care Solutions results 3Q 2024 3Q 2025 YoY change Revenues $779M $731M (7)%*(1) Segment EBIT $82M $27M (67)% Segment EBIT margin 10.6% 3.7% (680) bps Highlights • Healthy organic orders growth; Organic revenue* declined primarily due to a product hold, which has been resolved with sh
Slide 9: 3Q 2025 Pharmaceutical Diagnostics results
3Q 2025 Pharmaceutical Diagnostics results 3Q 2024 3Q 2025 YoY change Revenues $625M $749M 10%*(1) Segment EBIT $193M $220M 14% Segment EBIT margin 30.9% 29.4% (150) bps . Highlights • Double digit Organic revenue growth* driven by price, volume and NPIs • EBIT margin declined YoY due to planned inv
Slide 10: 3Q 2025 Cash performance
3Q 2025 Cash performance Free cash flow* Cash highlights • Delivered $483M in Free cash flow*, includes tariff payments of ~$95M • YoY Free cash flow* decreased due to higher receivables attributable to revenue growth, and tariff payments $651M $483M • Focused efforts on working capital management •
Slide 11: 2025 Outlook
2025 Outlook 2024A Previous 2025E Updated 2025E(1) Organic Revenue Growth*(2) 1% ~3% reaffirmed 50 bps FX tailwind on revenue Adjusted EBIT Margin* 16.3% 15.2% - 15.4% reaffirmed (110) - (90) bps Adjusted ETR* 21.8% 20% - 21% reaffirmed $4.43 - $4.63 $4.51 - $4.63 Adjusted EPS* $4.49 (1)% - 3% 0% -
Slide 12: © 2025 GE HealthCare. GE is a trademark of General Electric Company used under
© 2025 GE HealthCare. GE is a trademark of General Electric Company used under trademark license. 1212
Slide 13: Summary
Summary • Fundamentals of business remain strong supported by customer commitment to investment • Investing in transformational innovation; sets the stage for attractive revenue growth and margin expansion • 2025 guidance reflects strong performance year-to-date and healthy capital investment trends
Slide 14: Slide 14
Slide 15: Q&A
Q&A © 2025 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 16: Upcoming events
Upcoming events Jefferies Global Healthcare Conference November 18, 2025 Investor Meetings at RSNA December 1-2, 2025 © 2025 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 17: Appendix
Appendix © 2025 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 18: Organic Revenue
Organic Revenue* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 % change 2025 2024 % change Total revenues $ 5,143 $ 4,863 6% $ 14,927 $ 14,353 4% Less: Acquisitions(1) 51 1 117 3 Less: Dispositions(2) — — — — Less: Foreign currency
Slide 19: Segment Organic Revenue
Segment Organic Revenue* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 % change 2025 2024 % change Imaging revenues $ 2,349 $ 2,229 5% $ 6,693 $ 6,462 4% Less: Acquisitions(1) — — 14 — Less: Dispositions(2) — — — — Less: Foreign cu
Slide 20: Adjusted EBIT
Adjusted EBIT* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 % change 2025 2024 % change Net income attributable to GE HealthCare $ 446 $ 470 (5)% $ 1,495 $ 1,272 18 % Add: Interest and other financial charges – net 111 130 335 383
Slide 21: Adjusted Net Income
Adjusted Net Income* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 % change 2025 2024 % change Net income attributable to GE HealthCare $ 446 $ 470 (5)% $ 1,495 $ 1,272 18 % Add: Non-operating benefit (income) costs (75) (102) (222
Slide 22: Adjusted Earnings Per Share
Adjusted Earnings Per Share* (In dollars, except shares outstanding presented in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 $ change 2025 2024 $ change Diluted earnings per share $ 0.98 $ 1.02 $ (0.05) $ 3.26 $ 2.77 $ 0.49 Add: Non-op
Slide 23: Adjusted Tax Expense and Adjusted ETR
Adjusted Tax Expense* and Adjusted ETR* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 2025 2024 Benefit (provision) for income taxes $ (179) $ (168) $ (395) $ (435) Add: Tax effect of reconciling items(1) (2) (3) (3) (26) Add: Spin
Slide 24: Free Cash Flow
Free Cash Flow* ($ in millions) For the three months ended September 30 For the nine months ended September 30 Unaudited 2025 2024 % change 2025 2024 % change Cash from (used for) operating activities – continuing operations $ 593 $ 742 (20)% $ 937 $ 1,042 (10)% Add: Additions to PP&E and internal-u
Slide 25: Non-GAAP P&L Reconciliations - 3Q 2025
Non-GAAP P&L Reconciliations - 3Q 2025 ($ in millions) Acquisition Amortization Non- and (Gain) loss on of Investment Operating Spin-Off and Tax effect of Spin-Off and Non-GAAP GAAP Restructuring disposition- business and acquisition- revaluation benefit separation reconciling other tax Reported cos
Slide 26: Non-GAAP P&L Reconciliations - 3Q 2024
Non-GAAP P&L Reconciliations - 3Q 2024 ($ in millions) Acquisition Amortization Non- and (Gain) loss on of Investment Operating Spin-Off and Tax effect of Spin-Off and Non-GAAP GAAP Restructuring disposition- business and acquisition- revaluation benefit separation reconciling other tax Reported cos
Slide 27: Acronyms
Acronyms AI Artificial Intelligence AVS Advanced Visualization Solutions bps Basis points CT Computed Tomography EBIT Earnings Before Interest and Taxes EMEA Europe, the Middle East, and Africa EPS Earnings Per Share ETR Effective Tax Rate FDA Food and Drug Administration FX Foreign Exchange NMP Nih
Slide 28: Product disclaimers
Product disclaimers Product Name Disclaimer Carestation™ 850 CE marked and 510 (k) pending with the U.S. FDA. Not available for sale in the United States or all regions. CareIntellect Perinatal formerly Mural Perinatal Surveillance, a 510(k)-cleared device in the U.S. is the product name. CareIntell
Slide 29: Definitions
Definitions The estimated revenue expected from customer contracts that are partially or fully unperformed including amounts deferred Backlog in contract liabilities; contracts, or portions thereof, that provide the customer with the right to cancel or terminate without incurring a substantive penal
Slide 30: Non-GAAP Financial Measures
Non-GAAP Financial Measures The non-GAAP financial measures presented in this presentation are supplemental measures of GE HealthCare’s performance and its liquidity that the Company believes will help investors understand its financial condition, cash flows, and operating results, and assess its fu
Slide 31: Non-GAAP Financial Measures in Outlook
Non-GAAP Financial Measures in Outlook GE HealthCare calculates forward-looking non-GAAP financial measures, including Organic revenue growth, Adjusted EBIT margin, Adjusted ETR, Adjusted EPS, and Free cash flow based on internal forecasts that omit certain amounts that would be included in GAAP fin
GE HealthCare Technologies — Q3 2025 Earnings Presentation on 6ix