GE HealthCare Technologies Non-GAAP EPS of $0.85 beats by $0.06, revenue of $4.71B beats by $80M
GE HealthCare Technologies press release (NASDAQ:GEHC): Q1 Non-GAAP EPS of $0.85  beats by $0.06.
Revenue of $4.71B (+8.5% Y/Y)  beats by $80M.
Foreign exchange negatively impacted growth by 4%. Total company book-to-bill, defined as Total orders divided by Total revenues, was 1.01 times for the quarter, given strong revenue growth across all segments, led by Pharmaceutical Diagnostics (PDx) recurring sales.


2023 Guidance

Organic revenue growth in the range of 5% to 7% year-over-year.
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 (ETR) in the range of 23% to 25%.
Adjusted EPS in the range of $3.60 to $3.75, representing 7% to 11% growth. This compares to 2022 Standalone Adjusted EPS of $3.38 vs. $3.72 consensus.
Free cash flow conversion of 85% or more for the full year. The Company's cash flow outlook assumes that the legislation requiring R&D capitalization for tax purposes is repealed or deferred beyond 2023. The Free cash flow* impact of this legislation is up to 10 points of Free cash flow conversion* for the year.