GE Healthcare Technologies Inc. (GEHC) disclosed its financial results for the third quarter, reporting a net income of $375 million, or 83 cents per share. This figure reflects a decline from the year-earlier period’s $487 million, or $1.07 per share. However, the adjusted earnings per share for GEHC stood at 99 cents, surpassing the FactSet consensus of 90 cents.
Revenue Performance
The company generated $4.8 billion in revenue, a 5% increase that matches the FactSet consensus. Within its various segments, GEHC’s imaging division experienced a 5% rise in revenue to reach $2.6 billion. Conversely, ultrasound revenue saw a slight drop of 1% to $815 million.
Strong Growth in Patient Care and Pharmaceutical Diagnostics
On a positive note, GEHC witnessed significant growth in its patient care solutions division, with revenue increasing by 9% to $764 million. The pharmaceutical diagnostics segment also performed admirably, experiencing a notable revenue increase of 13% to reach $589 million.
Revised Full-Year Guidance
GEHC has revised its full-year guidance, raising the lower end of its adjusted earnings per share projection. The company now expects adjusted EPS to range between $3.75 and $3.85, compared to its previous forecast of $3.70 to $3.85.
Market Performance
As of now, the company’s stock has not yet begun trading in the premarket session. Year to date, GEHC shares have gained 8%, while the S&P 500 index has increased by 8.5%.