Healthcare technology company GE HealthCare Technologies (NASDAQ:GEHC) will be reporting earnings this Wednesday before the bell. Here’s what to expect.
GE HealthCare beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $4.78 billion, up 2.8% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ organic revenue estimates but a significant miss of analysts’ full-year EPS guidance estimates.
Is GE HealthCare a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting GE HealthCare’s revenue to grow 2.4% year on year to $4.96 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.92 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GE HealthCare has missed Wall Street’s revenue estimates five times over the last two years.
Looking at GE HealthCare’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 22.8%, beating analysts’ expectations by 3.4%, and Intuitive Surgical reported revenues up 21.4%, topping estimates by 3.7%. Boston Scientific traded up 2.9% following the results while Intuitive Surgical was down 1.9%.
Read our full analysis of Boston Scientific’s results here and Intuitive Surgical’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. GE HealthCare is up 6.4% during the same time and is heading into earnings with an average analyst price target of $87.96 (compared to the current share price of $78.78).
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