NASDAQ$GEHC
GE HealthCare Technologies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
GE HealthCare reported Q3 2024 financial results with revenue growth of 1% year-over-year and organic revenue growth also at 1%. Net income margin was 9.7%, and adjusted EBIT margin was 16.3%. Diluted EPS was $1.02, and adjusted EPS was $1.14. Cash flow from operating activities reached $742 million, and free cash flow was $651 million. The company raised the low end of its full-year 2024 adjusted EBIT margin and adjusted EPS guidance.
GE HealthCare's Q3 2024 results showed a 1% increase in revenue and organic revenue. The company experienced margin expansion and improved earnings per share. They also updated their full-year guidance, raising the low end of adjusted EBIT margin and adjusted EPS expectations.
- Revenue growth was 1% year-over-year, with organic revenue growth also at 1%.
- Net income margin increased to 9.7% compared to 7.8% in the prior year, while adjusted EBIT margin rose to 16.3% from 15.4%.
- Diluted earnings per share (EPS) were $1.02, up from $0.83 in the prior year, and adjusted EPS was $1.14, compared to $0.99.
- Cash flow from operating activities was $742 million, up from $650 million, and free cash flow was $651 million, up from $570 million.
Headline financials
Revenue & EPS history
GE HealthCare · Revenue · Quarterly
$4.86B
Revenue by segment
GE HealthCare · $4.01B total across 4 segments · Q3 2023
- Imaging$2.64B+4.7%65.8%
- Patient Care$764M+9.0%19.1%
- Pharma Diagnostics$589M+12.8%14.7%
- Other$19M+35.7%0.5%
Forward guidance
The Company updates full-year 2024 guidance as follows: •Organic revenue growth* trending toward the lower end of the range of 1% to 2% year-over-year, given the continued China market softness •Adjusted EBIT margin* in the range of 15.8% to 16.0%, reflecting an expansion of 70 to 90 basis points versus 2023 Adjusted EBIT margin* of 15.1%; this compares to prior guidance of 15.7% to 16.0% •Adjusted effective tax rate (ETR)* trending toward the lower end of the 23% to 25% range, given additional tax incentives recognized in third quarter 2024 •Adjusted EPS* in the range of $4.25 to $4.35, representing 8% to 11% growth versus Adjusted EPS* of $3.93 for 2023; this compares with prior range of $4.20 to $4.35 •Free cash flow* of approximately $1.8 billion
Tailwinds
- Organic revenue growth trending toward the lower end of the range of 1% to 2% year-over-year.
- Adjusted EBIT margin in the range of 15.8% to 16.0%, reflecting an expansion of 70 to 90 basis points versus 2023.
- Adjusted effective tax rate trending toward the lower end of the 23% to 25% range.
- Adjusted EPS in the range of $4.25 to $4.35, representing 8% to 11% growth versus Adjusted EPS of $3.93 for 2023.
- Free cash flow of approximately $1.8 billion.
Headwinds
- Organic revenue growth trending toward the lower end of the range due to continued China market softness.
- Uncertainty regarding the precise impact of global economic factors.
- Potential fluctuations in currency exchange rates.
- Impacts associated with potential business acquisitions or dispositions.
- Unpredictable timing and magnitude of restructuring activities.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2024
-0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
-0.3%
Avg return
30 days after
50%
8 / 16 earnings
Positive
+11.5%
Q4 2021
Best reaction
-12.9%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -12.9% | -10.9% | -8.9% | |
| Q4 2025 | +6.4% | +0.4% | -5.7% | |
| Q3 2025 | -2.7% | -6.2% | +0.7% | |
| Q1 2025 | +3.3% | +1.9% | +3.6% | |
| Q4 2024 | +8.8% | +7.9% | -4.6% | |
| Q3 2024 | +2.4% | +2.0% | -2.4% | |
| Q2 2024 | +0.9% | -1.4% | +2.6% | |
| Q1 2024 | -12.0% | -10.6% | -11.7% | |
| Q4 2021 | +11.5% | +10.8% | +26.2% | |
| Q3 2023 | +8.1% | +13.3% | +8.4% | |
| Q3 2022 | +8.1% | +13.3% | +8.4% | |
| Q2 2023 | -4.0% | -3.4% | -15.1% | |
| Q1 2023 | -8.7% | -7.3% | -9.0% | |
| Q1 2022 | -8.7% | -7.3% | -9.0% | |
| Q2 2022 | -2.3% | +0.8% | +4.4% | |
| Q4 2022 | -0.8% | +0.7% | +7.4% | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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