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What You Need To Know Ahead of GE HealthCare's Earnings

The GE HealthCare logo is seen on the wall of an exhibit at the 2023 World Health Expo in China.

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Key Takeaways

  • GE HealthCare will report earnings before the bell Wednesday, with analysts projecting revenue and profits to rise from the same time last year.
  • In the prior quarter, the company lowered its full-year revenue growth projections, citing economic difficulties in China.
  • The company has made a number of bets on AI technology, recently announcing an AI "Innovation Lab" to grow and showcase the projects.

GE HealthCare (GEHC) is set to report earnings Wednesday morning, with analysts projecting revenue and profits to rise from the same time last year.

Analysts expect the 澳洲幸运5开奖号码历史查询:former General Electric division to report $4.87 billion in revenue, narrowly above last year's $4.82 billion, according to estimates compiled by Visible Alpha. 澳洲幸运5开奖号码历史查询:Net income is expected to rise by a larger margin, about 22% to $458.34 million.

Analyst Estimates for Q3 2024 Q2 2024 Q3 2023
Revenue $4.87 billion $4.84 billion $4.82 billion
Earnings Per Share $1.00 93 cents 82 cents
Net Income $458.34 million $428 million $375 million

Key Metric: International Sales

After the company 澳洲幸运5开奖号码历史查询:said in April that it expected sales growth to be weighted to the back half of 2024, it 澳洲幸运5开奖号码历史查询:said in July that macroeconomic headwinds in China led it to lower 澳洲幸运5开奖号码历史查询:projections for full-year revenue growth.

GE HealthCare trimmed its full-year revenue forecast to a range of 1% to 2% growth, down from roughly 4% previously. 澳洲幸运5开奖号码历史查询:Stimulus programs in China 澳洲幸运5开奖号码历史查询:announced last month could help address some of the headwinds GE HealthCare said would hamper sales.

Business Spotlight: AI Investments

GE HealthCare has made a number of 澳洲幸运5开奖号码历史查询:investments and partnerships in the 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) sector this year, including a partnership with Amazon (AMZN) 澳洲幸运5开奖号码历史查询:Web Services to develop AI healthcare tools.

Earlier this week, the company announced an "AI Innovation Lab" to speed up the growth of a number of its AI efforts like breast cancer detection software and AI "agents" with expertise in specific areas of care.

GE HealthCare shares have gained about 15% since the start of the year, at $88.90 as of Thursday's close.

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