GE HealthCare Technologies Reports Strong Q4 Earnings

Shares of GE HealthCare Technologies experienced a significant boost after the company announced better-than-expected earnings for the fourth quarter. The company's shares surged by approximately 11.5%, reaching $81.85 on Tuesday. Notably, the stock has shown an overall increase of more than 13% over the past 52 weeks.

Financial Performance

Despite a slight decrease in comparison to the previous year, GE HealthCare Technologies achieved fourth-quarter earnings of $403 million. This equates to 88 cents per share, compared to $1.21 per share in the previous year's fourth quarter. While analysts surveyed by FactSet anticipated earnings of $0.95, the company exceeded expectations with adjusted earnings of $1.18 per share.

Furthermore, the company's revenue for the quarter climbed by 5% to $5.21 billion, surpassing the analyst estimate of $5.09 billion.

Positive Outlook

GE HealthCare is optimistic about its future prospects. The company projects a 4% organic revenue growth rate for 2024, excluding the impact of acquisitions and foreign exchange. Additionally, there is an expected growth in adjusted earnings before interest and taxes margin, estimated to range between 15.6% and 15.9%.

Moreover, GE HealthCare Technologies anticipates adjusted earnings per share for 2024 to be within the range of $4.20 to $4.35, reflecting a growth rate of 7% to 11% compared to the adjusted EPS of $3.93 for 2023. Analysts surveyed by FactSet expect adjusted earnings per share of $4.24.

For more information, please refer to "GE HealthCare Technologies Reports Strong Q4 Earnings" by Zaeem Shoaib.