Shares of GE Healthcare (NASDAQ:GEHC) are higher today after releasing its first earnings report since being spun off. Adjusted earnings per share came in at $1.31, with revenue of $4.9 billion.
Looking forward, management expects revenue for Fiscal Year 2023 to be 19.4 billion and earnings per share in the range of $3.60 to $3.75, respectively. The company points to increasing demand from customers and tailwinds such as healthcare digitization and an aging population as catalysts for its growth.
GEHC stock has been a strong performer so far, as it’s up over 25% on a year-to-date basis. It’ll be interesting to see if underlying business catalysts will be able to overcome other macroeconomic headwinds that are likely to impact the stock market as a whole.