GE HealthCare Technologies beats Q2 top and bottom line estimates; raises full-year guidance
GE HealthCare Technologies press release (NASDAQ:GEHC): Q2 Non-GAAP EPS of $0.92  beats by $0.05.
Revenue of $4.82B (+7.6% Y/Y)  beats by $30M.
Total company orders increased 6% organically, driven by ongoing global customer demand.
2023 Guidance: the Company updated its guidance for full year 2023:Organic revenue growth in the range of 6% to 8% year-over-year versus a prior range of 5% to 7%.
Adjusted EBIT margin in the range of 15.0% to 15.5%, reflecting an expansion of 50 to 100 basis points versus 2022 Standalone Adjusted EBIT margin of 14.5%.
Adjusted effective tax rate in the range of 23% to 25%.
Adjusted EPS in the range of $3.70 to $3.85 vs. consensus of $3.74, representing 9% to 14% growth versus Standalone Adjusted EPS of $3.38 for 2022. The prior range was $3.60 to $3.75.
Free cash flow conversion of 85% or more for the full year.