GE HealthCare reported revenues of $4.8 billion, 5% year-over-year growth, for the third quarter ending Sept. 30.
The company, which was spun off to create an independent entity in January 2023, reported a net income attributable to the company of $375 million, compared to $487 million for the prior year. With the results, GE HealthCare is raising its low-end full-year adjusted earnings per share range, according to an Oct. 31 GE HealthCare news release.
Barron's reported that the company's stock was up 4.5% shortly after the results were released.
"Cash performance was strong as we leveraged lean principles to improve inventory management," GE HealthCare CEO and President Peter Arduini said in the news release. "We remain confident in our 2023 outlook as we continue to innovate for customers and patients."