GE HealthCare Technologies Inc. (GEHC) has surpassed consensus estimates for the second quarter and has raised its full-year guidance. The company, which was spun off from General Electric Co. in January, reported net income of $418 million, or 91 cents per share, for the quarter. This is a slight decrease from the $485 million, or $1.04 per share, recorded in the same period last year. However, adjusted earnings per share came in at 92 cents, surpassing the FactSet consensus of 87 cents.
Meanwhile, revenue for the quarter increased to $4.817 billion, up from $4.484 billion in the previous year. This also exceeded the FactSet consensus of $4.792 billion. CEO Peter Arduini attributed these impressive results to strong global demand, which contributed to revenue growth across all of the company’s business segments.
In light of this success, GE HealthCare Technologies Inc. has raised its full-year guidance. The company now expects adjusted EPS of $3.70 to $3.85, an increase from the previous guidance of $3.60 to $3.75. Additionally, it anticipates organic revenue growth of 6% to 8%, up from the previous guidance of 5% to 7%.
Despite the challenging economic climate, GEHC has proven its resilience and ability to achieve substantial growth. Year-to-date, the company's stock has surged by 38%, outperforming the S&P 500's gain of 18.6%.
GE HealthCare Technologies Inc.'s exceptional performance in the second quarter showcases its strong position in the market and reaffirms its commitment to delivering value to its shareholders.
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