GE Healthcare Says Demand, Supply Chain Both Improving

By Will Feuer

GE Healthcare Technologies Inc. issued preliminary results for the fourth quarter and forecasted continued organic revenue growth in the year ahead.

Supply-chain challenges are easing and demand for the company's products and services is improving, Chief Executive Peter Arduini said. Inflation remains a factor, he said.

The company, which completed its spinoff from General Electric Co. last week, said it expects 2023 organic revenue to grow by 5% to 7% from 2022 levels. In 2022, organic revenue grew by about 7%, the company said.

For the fourth quarter, the company said revenue was about $4.9 billion, growth of about 12% on an organic basis, which strips out currency fluctuations as well as recent acquisitions and divestitures. For 2022, the company expects to report adjusted earnings before interest and taxes above outlook.

The company said 2022 free-cash flow is expected to come in toward the low end of the range that the company provided at an investor day presentation last month on both a GE and GEHC basis.

Write to Will Feuer at [e-mail]

(END) Dow Jones Newswires

January 10, 2023 07:07 ET (12:07 GMT)

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