GE Healthcare’s Q4 profit and revenue top estimates, offsetting soft EPS guidance

GE HealthCare Technologies Inc.’s stock
GEHC,
-0.68%
rose 0.9% early Tuesday, after the company posted better-than-expected profit and revenue for the fourth quarter, offsetting soft guidance for 2024. GE HealthCare, which was spun out of General Electric Co. in January of 2023 and houses its medical device business, posted net income of $403 million, or 88 cents a share, for the quarter, down from $554 million, or $1.21 a share, in the year-earlier period. Adjusted per-share earnings came to $1.18, ahead of the $1.07 FactSet consensus. Revenue rose 5% to $5.2 billion, also ahead of the $5.1 billion FactSet consensus. The company is now expecting 2024 adjusted EPS of $4.20 to $4.35, while FactSet is expecting $5.74. The stock has gained 2% in the last 12 months, while the S&P 500
SPX,
-0.32%
has gained 20%.