EarningsQ3 2026 Earnings Report
MX:GEHC Q3 2026 EPS Results
Actual EPS$25.01
Consensus EPS$22.47
Beat/MissBeat by +$2.54
One Year Ago EPS$19.97
MX:GEHC Q3 2026 Revenue Results
Actual Revenue$102.89B
Expected Revenue$99.87B
Beat/MissBeat by +$3.02B
YoY Revenue Growth+7.19%
Earnings Announcement Details
QuarterQ3 2026
Date10/28/2026
TimeBefore Open
Conference CallWednesday, October 28, 2026
MX:GEHC Upcoming Earnings
GE Healthcare Technologies Inc's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:GEHC Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. Highlights significantly outweighed the lowlights, with strong organic revenue growth, broad-based segment performance, margin and EPS expansion, higher free cash flow, raised full-year guidance, regulatory progress, expanding radiopharmaceutical adoption, and confidence in the 2027 and 2028 outlook. The company acknowledged inflation, tariff uncertainty, PCS recovery work, China execution challenges, and generic competition, but management described mitigation actions and maintained confidence in the business trajectory.Company Guidance
Strong Third-Quarter Revenue and Profit Growth
Third-quarter revenue was $5.5 billion, up 6.2% organically, with growth across all segments. Reported product revenue increased 6.7% and service revenue increased 8.1%. Adjusted EBIT margin expanded 180 basis points to 16.6%, adjusted EPS increased 25.1% to $1.34, and free cash flow rose $310 million year over year to $793 million.
Healthy Orders, Book-to-Bill, and Backlog
Organic orders grew 4%, following 5.7% growth in the third quarter of the prior year, while trailing-12-month organic orders growth was 4.6%. Book-to-bill was 1.03x, and backlog ended the quarter at $23.7 billion, up $2.5 billion or 12% year over year.
Raised Full-Year 2026 Guidance
The company raised its full-year 2026 outlook to approximately 4% organic revenue growth, adjusted EBIT margin of 15.5% to 15.7%, adjusted EPS of $4.95 to $5.05 per share, and free cash flow in excess of $1.6 billion. The adjusted effective tax rate is expected to be 20% to 21%, with a foreign-exchange revenue tailwind of approximately 75 basis points.
Advanced Imaging Solutions Growth and Margin Expansion
Advanced Imaging Solutions organic revenue grew 4.5%, driven by CT, cardiovascular and interventional solutions, and surgical innovations. Segment EBIT margin expanded 130 basis points year over year, supported by volume, reduced tariff expense, and price, partially offset by inflation.
Pharmaceutical Diagnostics Delivered Robust Growth
Pharmaceutical Diagnostics organic revenue increased 13.8%, supported by Contrast Media and radiopharmaceutical products. Segment EBIT margin expanded 50 basis points to 29.9%, driven by volume and price, partially offset by planned investments in new products and the innovation pipeline.
Patient Care Solutions Recovered Strongly
Patient Care Solutions organic revenue grew 8.8% year over year, with significant sequential improvement driven by better product fulfillment, monitoring solutions, and maternal and infant care. Backlog continued to grow alongside revenue, while segment EBIT margin expanded 480 basis points year over year, primarily due to higher volume and cost productivity.
Improved PCS Execution and Supply Performance
The Patient Care Solutions team identified the root causes of prior supply challenges and implemented standard work and daily management. Management said this drove backlog conversion, stronger operational performance, better supplier and factory execution, and is expected to support continued improvement.
Regulatory Milestones and New Imaging Products
GE Healthcare received CE marking for PhotoNova Spectra, its photon-counting CT system, and Starguide GX, its SPECT CT system, was pending FDA clearance. The company also expanded ultrasound platforms in cardiovascular, women's health, and general imaging with several new products.
Continued Investment in General Imaging Ultrasound
The company described general imaging ultrasound as an attractive long-term market and said it is continuing to invest in the platform. Management cited growing demand, staffing constraints, and more distributed care as factors increasing the value of ultrasound's versatility across a broad range of exams.
Radiopharmaceutical Growth and Precision-Medicine Strategy
PDX delivered another excellent quarter, with growth in contrast media and radiopharmaceuticals, including proprietary tracers aligned to disease states. Management cited momentum in precision medicine and growing demand for targeted diagnostics in oncology, cardiology, and neurology. PDX has delivered at least high single-digit growth for five straight quarters.
SoFi Bioscience Acquisition Plan
GE Healthcare announced plans to acquire SoFi Bioscience. Upon closing, the transaction is expected to establish a final-mile U.S. radiopharmaceutical supply footprint, strengthen supply reliability and manufacturing control, and expand the pipeline through FAPI 74, a phase 3 PET tracer with potential applications across cancers and other diseases. SoFi's revenue is expected to add approximately 1% of total company revenue on an annualized basis, with low-double-digit revenue growth and accretive adjusted EBIT margin and adjusted EPS in the full year of ownership.
Vercado Adoption and Long-Term Revenue Target
Vercado delivered approximately 680 doses for the week ending October 23, with growing adoption among existing cardiac PET/CT programs and customers converting from SPECT to PET. Management said the company feels very good about the $500 million Vercado revenue target exiting 2028, and that customer funnels are up significantly.
PDX Pipeline and Recurring Revenue Opportunity
Management said approximately three quarters of the PDX portfolio is contrast media, with volumes tied to global procedure demand, while radiopharmaceuticals are one of its fastest-growing markets. The MR manganese-based contrast agent has the potential to address a nearly $1.2 billion market, and the combined phase 2 and phase 3 international trial is progressing.
Operational Simplification and Productivity Benefits
Heartbeat is being used to strengthen commercial and operational execution through standard work, daily management, and focus on safety, quality, delivery, cost, and innovation. Services expects standardized digital support to save approximately 10 thousand hours of field time across CT, MR, and X-ray in the United States, while AIS achieved incremental variable-cost reductions that partially offset inflation.
Margin Expansion Framework and Pricing Execution
Management said commercial execution and operational simplification are supporting margin expansion through strategic pricing, standardized product launches, new products at higher gross margins, product platforming, structural-cost optimization, and reduced rework. Pricing is being pursued selectively, with management describing a good pricing outcome as a 1% to 2% window.
Supply-Chain Resilience for Memory Chips
GE Healthcare entered multiyear strategic agreements with leading technology partners to secure memory chips amid cross-industry demand from data centers and AI. Management said the agreements are intended to improve supply and pricing access, including favored-nation status, and support delivery through the rest of the year and into 2027.
Strong Capital-Equipment Demand and Forward Pipeline
Management said imaging ranks at the top of customers' capital-budget priorities, with positive customer survey sentiment unchanged. The company has not seen a direct pullback in procedures through scan data or contrast-use data, described its funnel as stronger than ever, and said fourth-quarter orders booked look somewhat better than third-quarter orders.
Cash Returns to Shareholders
Free cash flow increased to $793 million in the third quarter, supported by lower net tariff impact, operational profitability, and collection timing. The company also increased its cash dividend by 14%.
Confidence in Medium-Term Targets and 2027 Setup
Management reaffirmed confidence in its medium-term targets through 2028, citing approximately 5% trailing-12-month growth, strong orders and backlog conversion, differentiated new products, cost productivity, and pricing. Management also said the momentum entering 2027 is supported by the orders funnel and backlog.
General Imaging Ultrasound Market Position
Management described general imaging ultrasound as a critical global platform and said GE Healthcare remains formidable in the space. The company is continuing to invest in the Logic brand and believes market opportunities may arise as competitors experience disruptions.
MX:GEHC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed