GE HealthCare (NASDAQ:GEHC) beats EPS expectations, revenue falls short

GE Healthcare Technologies (NASDAQ:GEHC) reported its quarterly results, showing a modest rise in earnings but a slight miss in revenue expectations.

The company announced an adjusted earnings per share (EPS) of $1 for the quarter ending in June, surpassing both the previous year's figure of 92 cents and the analysts' expectation of 98 cents.

This figure notably exceeded Wall Street’s anticipated range of 93 cents to $1.02 per share.

However, the company's reported EPS stood at 93 cents, with a quarterly net income of $428 million.

Despite achieving higher earnings, GE Healthcare’s revenue experienced a marginal increase of 0.5% to $4.84 billion, slightly below analysts' forecast of $4.87 billion.

The company's financials also highlighted a downturn in cash flow metrics, with cash flow from operating activities falling to $119 million—down $52 million year-over-year.

Similarly, free cash flow worsened, reporting a decrease of $46 million to $182 million.

Following the quarter's performance, GE Healthcare adjusted its outlook, now expecting organic revenue growth to range between 1% and 2%, a downgrade from the previous estimate of around 4%.