GE HealthCare earnings fell from a year ago but top estimates

GE HealthCare Technologies Inc.
GEHC,
-0.52%
beat consensus estimates for the second quarter and raised its full-year guidance. The company, which was spun out of General Electric Co. in January, posted net income of $418 million, or 91 cents a share, for the quarter, down from $485 million, or $1.04 a share, in the year-earlier period. Adjusted per-share earnings came to 92 cents, ahead of the 87 cent FactSet consensus. Revenue rose to $4.817 billion from $4.484 billion a year ago, also ahead of the $4.792 billion FactSet consensus. Chief Executive Peter Arduini said the numbers reflected strong global demand that allowed for revenue growth across the company’s business segments. The company raised its full-year guidance and said it now expects adjusted EPS of $3.70 to $3.85, up from prior guidance of $3.60 to $3.75. It expects organic revenue growth of 6% to 8%, up from prior guidance of 5% to 7%. The stock has gained 38% in the year to date, while the S&P 500
SPX,
+0.28%
has gained 18.6%.