GE Healthcare Clocks Q2 Topline Growth Despite China Headwind, Adjusts Revenue Outlook For 2024
Portfolio Pulse from Vandana Singh
GE Healthcare Technologies Inc (NASDAQ:GEHC) reported Q2 sales of $4.84 billion, slightly missing the consensus of $4.87 billion. Net income was $428 million, and adjusted EPS was $1.00, beating the consensus of $0.98. Despite headwinds in China, the company saw solid orders growth, particularly in the U.S. However, due to these headwinds, GE Healthcare adjusted its 2024 organic revenue growth outlook to 1%-2%, down from the prior guidance of approximately 4%. The stock was up 4.03% to $85.98.
July 31, 2024 | 5:03 pm
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GE Healthcare reported Q2 sales of $4.84 billion, slightly missing the consensus of $4.87 billion. Adjusted EPS was $1.00, beating the consensus of $0.98. Despite headwinds in China, the company saw solid orders growth, particularly in the U.S. However, the 2024 organic revenue growth outlook was adjusted down to 1%-2% from approximately 4%. The stock was up 4.03% to $85.98.
The slight miss in Q2 sales and the adjusted revenue outlook for 2024 due to China headwinds are offset by the beat in adjusted EPS and solid orders growth in the U.S. This mixed news has led to a positive short-term impact on the stock price, which was up 4.03%.
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IMPORTANCE 80
RELEVANCE 100