Ge Healthcare Technologies Inc. · NASDAQ:GEHC
Ge Healthcare Technologies — Q2 2026 Earnings Presentation
33 slides from Ge Healthcare Technologies's earnings presentation, Jul 29, 2026
Slide 1: 2Q 2026 Earnings Presentation
2Q 2026 Earnings Presentation July 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: 2Q 2026 Update
2Q 2026 Update • Revenue growth led by strength in PDx and AIS • Record orders, book-to-bill and backlog; healthy demand across all segments and geographies for our differentiated products and solutions • Focused actions underway to strengthen execution and improve PCS performance; reviewing strateg
Slide 4: 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 5: 2Q 2026 Consolidated performance summary
2Q 2026 Consolidated performance summary Revenues Organic orders Adjusted EBIT* and Adjusted EPS* Free cash flow* growth** Adjusted EBIT margin* $5.3B 11.1% YoY $750M $1.13 $68M 3.5% YoY Book-to-Bill** 14.2% Margin 6.6% YoY $61M YoY Organic growth*(1) 1.15x (40) bps YoY Backlog** Includes the benefi
Slide 6: 2Q Adjusted EBIT margin performance YoY
2Q Adjusted EBIT margin* performance YoY 14.6% ~(1.3)% ~0.4% 14.2% ~1.7% ~(1.2)% ~0.0% Heartbeat driving commercial execution, price and productivity helping to offset headwinds © 2026 GE HealthCare. GE is a trademark of *Non-GAAP financial measure. See appendix for reconciliation of GAAP to non-GAA
Slide 7: 2Q 2026 Advanced Imaging Solutions results
2Q 2026 Advanced Imaging Solutions results 2Q 2025 2Q 2026 YoY change Revenues $3,493M $3,771M 5.0%*(1) Segment EBIT $455M $525M 15.4% Segment EBIT margin 13.0% 13.9% 90 bps Highlights • Solid Organic revenue growth* YoY driven by strength in CardioVascular & Interventional Solutions, CT and Molecul
Slide 8: 2Q 2026 Pharmaceutical Diagnostics results
2Q 2026 Pharmaceutical Diagnostics results 2Q 2025 2Q 2026 YoY change Revenues $729M $843M 14.6%*(1) Segment EBIT $213M $250M 16.9% Segment EBIT margin 29.3% 29.6% 30 bps Highlights • Robust YoY Organic revenue growth* driven by volume and price in contrast media and U.S. radiopharmaceutical product
Slide 9: 2Q 2026 Patient Care Solutions results
2Q 2026 Patient Care Solutions results 2Q 2025 2Q 2026 YoY change Revenues $778M $675M (13.5)%*(1) Segment EBIT $60M $(26)M (143.0)% Segment EBIT margin 7.7% (3.8)% (1,150) bps Highlights • Revenue and EBIT declined YoY, predominantly impacted by operational and fulfillment challenges • Strong 1H’26
Slide 10: Cash performance and capital deployment priorities
Cash performance and capital deployment priorities 2Q 2026 Free cash flow* Capital deployment highlights • Delivered $68M in Free cash flow* in the quarter • YoY Free cash flow* increased primarily due to tariff refunds, partially offset by working capital investments and capital expenditures to sup
Slide 11: Reaffirms 2026 Outlook
Reaffirms 2026 Outlook 2025A 2026E Assumptions: Organic Revenue Growth* (1) 3.5% 3.0% - 4.0% • Reflects healthy capital equipment environment 15.4% - 15.7% Adjusted EBIT Margin* 15.3% • Continue to expect year-over-year decline in China 10 – 40 bps revenue; no material impact to revenue from global
Slide 12: AIS + D3 + Heartbeat positions GE HealthCare to win in the market
AIS + D3 + Heartbeat positions GE HealthCare to win in the market Differentiated products – Advancing new wave of innovation aligned to customers needs, driving higher win rate and margin growth Commercial execution – Strengthening commercial execution through deeper clinical expertise, expanded ser
Slide 13: Connecting customer goals to care transformation
Connecting customer goals to care transformation Combination of differentiated products, commercial team strength, and field services enables stronger partnerships Trusted healthcare solutions provider Catholic Health GE HealthCare University Hospital Essen $500M, 10-year Care Alliance D3: Integrate
Slide 14: Summary
Summary • Business momentum reflected in record order intake and healthy end market demand • Meaningful progress in new wave of innovation • Leveraging Heartbeat to drive commercial execution and business performance while managing inflation impact • Adjusted EPS* exceeded our expectations • Outlook
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Slide 16: Q&A
Q&A © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license. 16
Slide 17: Upcoming event
Upcoming event Wells Fargo Healthcare Conference September 9, 2026 © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license. 17
Slide 18: Appendix
Appendix © 2026 GE HealthCare. GE is a trademark of General Electric Company used under trademark license. 18
Slide 19: Organic Revenue*
Organic Revenue* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 % change 2026 2025 % change Total revenues $ 5,295 $ 5,007 5.7 % $ 10,425 $ 9,784 6.6 % Less: Acquisitions(1) 62 — 122 1 Less: Dispositions(2) — — — — Less: Foreign currency excha
Slide 20: Segment Organic Revenue*
Segment Organic Revenue* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 % change 2026 2025 % change AIS revenues $ 3,771 $ 3,493 7.9 % $ 7,410 $ 6,872 7.8 % Less: Acquisitions(1) 62 — 72 — Less: Dispositions (2) — — — — Less: Foreign currency
Slide 21: Adjusted EBIT*
Adjusted EBIT* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 % change 2026 2025 % change Net income attributable to GE HealthCare $ 561 $ 486 15.5 % $ 950 $ 1,049 (9.5)% Add: Interest and other financial charges – net 114 113 210 224 Add: Non
Slide 22: Adjusted Net Income*
Adjusted Net Income* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 % change 2026 2025 % change Net income attributable to GE HealthCare $ 561 $ 486 15.5 % $ 950 $ 1,049 (9.5)% Add: Non-operating benefit (income) costs (45) (73) (96) (148) Add
Slide 23: Adjusted Earnings Per Share*
Adjusted Earnings Per Share* (In dollars, except shares outstanding presented in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 $ change 2026 2025 $ change Diluted earnings per share $ 1.24 $ 1.06 $ 0.18 $ 2.08 $ 2.29 $ (0.20) Add: Non-operating ben
Slide 24: Adjusted Tax Expense* and Adjusted ETR*
Adjusted Tax Expense* and Adjusted ETR* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 2026 2025 Benefit (provision) for income taxes $ (119) $ (113) $ (213) $ (216) Add: Tax effect of reconciling items (1) 11 (1) (8) (1) Add: Spin-Off and oth
Slide 25: Free Cash Flow*
Free Cash Flow* ($ in millions) For the three months ended June 30 For the six months ended June 30 Unaudited 2026 2025 % change 2026 2025 % change Cash from (used for) operating activities $ 168 $ 94 78.5 % $ 458 $ 344 33.0 % Add: Additions to PP&E and internal-use software (100) (87) (278) (238) A
Slide 26: Non-GAAP P&L Reconciliations - 2Q 2026
Non-GAAP P&L Reconciliations - 2Q 2026 ($ in millions) Acquisition Spin-Off and Amortization Non- and separation (Gain) loss on of Investment Tax effect Spin-Off and Operating GAAP Restructuring disposition- costs and business and acquisition- revaluatio Tariff of other tax Non-GAAP benefit Reported
Slide 27: Non-GAAP P&L Reconciliations - 2Q 2025
Non-GAAP P&L Reconciliations - 2Q 2025 ($ in millions) Acquisition Amortization Spin-Off and Non- and (Gain) loss on of separation Investment Operating Tax effect of Spin-Off and GAAP Restructuring disposition- business and acquisition- revaluation benefit Non-GAAP costs and reconciling other tax Re
Slide 28: Non-GAAP P&L Reconciliations - 1H 2026
Non-GAAP P&L Reconciliations - 1H 2026 ($ in millions) Acquisition Spin-Off and Amortization Non- and separation (Gain) loss on of Investment Tax effect Spin-Off and Operating GAAP Restructuring disposition- costs and business and acquisition- revaluatio Tariff of other tax Non-GAAP benefit Reported
Slide 29: Non-GAAP P&L Reconciliations - 1H 2025
Non-GAAP P&L Reconciliations - 1H 2025 ($ in millions) Acquisition Spin-Off and Amortization Non- and (Gain) loss on of separation Investment Operating Tax effect of Spin-Off and GAAP Restructuring disposition- business and acquisition- revaluation benefit Non-GAAP costs and reconciling other tax Re
Slide 30: Acronyms
Acronyms AI Artificial Intelligence AIS Advanced Imaging Solutions bps Basis points CE Conformité Européenne CT Computed Tomography EBIT Earnings Before Interest and Taxes EPS Earnings Per Share ETR Effective Tax Rate EU European Union FDA Food and Drug Administration FX Foreign Exchange MI Molecula
Slide 31: 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 32: 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 33: 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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