GE Healthcare Says Demand, Supply Chain Both Improving
January 10 2023 - 7:22AM
Dow Jones News
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 Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 10, 2023 07:07 ET (12:07 GMT)
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