Ge Healthcare Technologies Inc. · NASDAQ:GEHC
Ge Healthcare Technologies — Q1 2026 Earnings Presentation
32 slides from Ge Healthcare Technologies's earnings presentation, Apr 29, 2026
Slide 1: 1Q 2026 Earnings Presentation
1Q 2026 Earnings Presentation April 29, 2026 © 2026 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: 1Q 2026 Update
1Q 2026 Update • Organic revenue growth* at high end of our expectations, driven by PDx, AVS and Imaging; strong reported services growth • Solid performance in orders, book-to-bill and backlog • Healthy global demand with double-digit reported growth in EMEA and Rest of World, mid-single-digit grow
Slide 4: Updated 2026 Adjusted EPS guidance; actively working to offset inflation
Updated 2026 Adjusted EPS* guidance; actively working to offset inflation Background • Inflation landscape changed significantly in the first quarter, increasing expected input costs by ~$250M in 2026 Cost Category Impact 2026 Adjusted EPS* guidance Memory chips ~$100M Oil and freight costs ~$100M $
Slide 5: Advancing our growth strategy
Advancing our growth strategy Precision Growth Business care acceleration optimization D3: Smart devices and drugs, across Positioned to accelerate top- Focus on enhancing customer disease states, enabled by digital, AI line growth with innovation satisfaction and margin expansion and software solut
Slide 6: 1Q 2026 Consolidated performance summary
1Q 2026 Consolidated performance summary Revenues Organic orders Adjusted EBIT* and Adjusted EPS* Free cash flow* growth**(1) Adjusted EBIT margin* $5.1B 1.1% YoY $691M $0.99 $112M 2.9% Book-to-Bill** 13.5% Margin (2.1)% YoY $13M YoY Organic growth*(1) 1.07x (150) bps YoY Tariff impact: ~$90M Tariff
Slide 7: 1Q 2026 margin performance
1Q 2026 margin performance Adjusted EBIT Margin* Variables impacting YoY performance (150) bps YoY Headwinds • Tariff expense 15.2% Ex-tariffs 15.1% • Decline in PCS ~10 bps ~170 bps Tariff impact • PDx supplier issue Partially offset by • Commercial execution driving increased volume 15.0% 13.5% •
Slide 8: 1Q 2026 Imaging results
1Q 2026 Imaging results 1Q 2025 1Q 2026 YoY change Revenues $2,140M $2,299M 3.8%*(1) Segment EBIT $199M $180M (9.4)% Segment EBIT margin 9.3% 7.8% (150) bps Highlights • Organic revenue growth* YoY driven by execution in the U.S. and EMEA • EBIT performance benefited primarily from volume, offset by
Slide 9: 1Q 2026 Advanced Visualization Solutions results
1Q 2026 Advanced Visualization Solutions results 1Q 2025 1Q 2026 YoY change Revenues $1,239M $1,341M 4.4%*(1) Segment EBIT $261M $299M 14.5% Segment EBIT margin 21.1% 22.3% 120 bps Highlights • Organic revenue growth* YoY driven by continued strength in the U.S. and EMEA, including adoption of new p
Slide 10: 1Q 2026 Patient Care Solutions results
1Q 2026 Patient Care Solutions results 1Q 2025 1Q 2026 YoY change Revenues $753M $704M (8.1)%*(1) Segment EBIT $48M $10M (79.8)% Segment EBIT margin 6.4% 1.4% (500) bps Highlights • Revenue declined YoY primarily due to select large monitoring installations more concentrated in the second half of th
Slide 11: 1Q 2026 Pharmaceutical Diagnostics results
1Q 2026 Pharmaceutical Diagnostics results 1Q 2025 1Q 2026 YoY change Revenues $632M $770M 9.7%*(1) Segment EBIT $205M $197M (3.9)% Segment EBIT margin 32.4% 25.6% (680) bps Highlights • Strong revenue growth driven by volume and price in contrast media and new radiopharmaceutical products, includin
Slide 12: Cash performance and capital deployment priorities
Cash performance and capital deployment priorities 1Q 2026 Free cash flow* Capital deployment highlights • Delivered $112M in Free cash flow* supported by working capital performance • Completed $2.3B acquisition of Intelerad $112M $98M • Repaid $500M in debt • Delivered $116M in shareholder returns
Slide 13: 2026 Outlook
2026 Outlook Assumptions: 2025A Previous 2026E Updated 2026E • Reflects healthy capex environment Organic Revenue • Cautious outlook on China unchanged and immaterial 3.5% 3.0% - 4.0% reaffirmed impact to revenue from conflict in Middle East Growth*(1) Adjusted EBIT 15.8% - 16.1% 15.4% - 15.7% • ~10
Slide 14: Strong pipeline of innovation
Strong pipeline of innovation Innovation pipeline driving orders in 2026 and enabling meaningful revenue growth in 2027+ Innovation Status Taking orders in US* Taking orders in Europe* PhotonovaTM Spectra photon-counting CT Regulatory clearance in the U.S. and Japan ✓ Anticipated 2Q’26 Omni 128cm To
Slide 15: Summary
Summary • 2026 sales growth on track with end market tailwinds and strong innovation pipeline • Lowering profit outlook due to inflationary environment; taking price and cost actions expected to mitigate more than half of inflation impact • Business fundamentals remain strong; new wave of innovation
Slide 16: Slide 16
Slide 17: Q&A
Q&A © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 18: Upcoming events
Upcoming events GE HealthCare Annual Meeting of Stockholders May 7, 2026 Bank of America Global Healthcare Conference May 12, 2026 Jefferies Healthcare Conference June 3, 2026 © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 19: Appendix
Appendix © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license.
Slide 20: Organic Revenue*
Organic Revenue* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 % change Total revenues $ 5,131 $ 4,777 7.4 % Less: Acquisitions(1) 60 1 Less: Dispositions(2) — — Less: Foreign currency exchange 155 — Organic revenue* $ 4,916 $ 4,776 2.9 % (1) Represents revenues attributabl
Slide 21: Segment Organic Revenue*
Segment Organic Revenue* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 % change Imaging revenues $ 2,299 $ 2,140 7.4 % Less: Acquisitions(1) 11 — Less: Dispositions (2) — — Less: Foreign currency exchange 68 — Imaging Organic revenue* $ 2,220 $ 2,140 3.8 % AVS revenues $ 1,
Slide 22: Adjusted EBIT*
Adjusted EBIT* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 % change Net income attributable to GE HealthCare $ 389 $ 564 (31.0)% Add: Interest and other financial charges – net 96 110 Add: Non-operating benefit (income) costs (51) (74) Less: Benefit (provision) for income
Slide 23: Adjusted Net Income*
Adjusted Net Income* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 % change Net income attributable to GE HealthCare $ 389 $ 564 (31.0)% Add: Non-operating benefit (income) costs (51) (74) Add: Restructuring costs(1) 49 22 Add: Acquisition and disposition-related charges (b
Slide 24: Adjusted Earnings Per Share*
Adjusted Earnings Per Share* (In dollars, except shares outstanding presented in millions) For the three months ended March 31 Unaudited 2026 2025 $ change Diluted earnings per share $ 0.85 $ 1.23 $ (0.38) Add: Non-operating benefit (income) costs (0.11) (0.16) Add: Restructuring costs(1) 0.11 0.05
Slide 25: Adjusted Tax Expense* and Adjusted ETR*
Adjusted Tax Expense* and Adjusted ETR* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 Benefit (provision) for income taxes $ (94) $ (104) Add: Tax effect of reconciling items (1) (19) — Add: Spin-Off and other tax adjustments (2) (7) (17) Adjusted tax expense* $ (120) $ (12
Slide 26: Free Cash Flow*
Free Cash Flow* ($ in millions) For the three months ended March 31 Unaudited 2026 2025 % change Cash from (used for) operating activities $ 290 $ 250 15.8 % Add: Additions to PP&E and internal-use software (178) (152) Add: Dispositions of PP&E — — Free cash flow* $ 112 $ 98 13.3 % *Non-GAAP financi
Slide 27: Non-GAAP P&L Reconciliations - 1Q 2026
Non-GAAP P&L Reconciliations - 1Q 2026 ($ in millions) Acquisition Amortization Non- and (Gain) loss on of Spin-Off and Investment Operating Tax effect of Spin-Off and GAAP Restructuring disposition- business and acquisition- revaluation benefit Non-GAAP separation reconciling other tax Reported cos
Slide 28: Non-GAAP P&L Reconciliations - 1Q 2025
Non-GAAP P&L Reconciliations - 1Q 2025 ($ in millions) Acquisition Amortization Non- and (Gain) loss on of Spin-Off and Investment Operating Tax effect of Spin-Off and GAAP Restructuring disposition- business and acquisition- revaluation benefit Non-GAAP separation reconciling other tax Reported cos
Slide 29: Acronyms
Acronyms AI Artificial Intelligence AVS Advanced Visualization Solutions bps Basis points CE Conformité Européenne CT Computed Tomography EBIT Earnings Before Interest and Taxes EMEA Europe, the Middle East, and Africa EPS Earnings Per Share ETR Effective Tax Rate EU European Union FDA Food and Drug
Slide 30: Definitions
Definitions The estimated revenue expected from customer contracts that are partially or fully unperformed including amounts deferred in Backlog contract liabilities; contracts, or portions thereof, that provide the customer with the right to cancel or terminate without incurring a substantive penal
Slide 31: 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 32: 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 U.S. GAA
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