GE Healthcare Technologies Inc (GEHC.N): GEHC 2Q26 First Look: Generally Good, Guidance Maintained

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GE Healthcare Technologies Inc (GEHC.N): GEHC 2Q26 First Look: Generally Good, Guidance Maintained

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29 Jul 2026 07:37:50 ET │ 11 pages

GE Healthcare Technologies Inc (GEHC.N)

GEHC 2Q26 First Look: Generally Good, Guidance Maintained

CITI'S TAKE

Neutral GEHC delivered 2Q26 revenue of $5.30B (up 3.5% y/y organic), in-line

with FactSet consensus, carried by PDx sales of $843M (up 14.6%, Catalyst Watch: Upside, expires 06-OCT-26

beating FactSet consensus’s $796M) and Advanced Imaging Solutions Price (28 Jul 26 16:00) US$64.16

sales of $3.77B (up 5.0% y/y organic, versus $3.70B), while Patient Care Target price US$69.00

Solutions of $675M missed (down 13.5%, versus $766M). Organic orders Expected share price return 7.5%

increased 11.1% y/y, with book-to-bill increasing to 1.15x from 1.07x q/q Expected dividend yield 0.0%

and from 1.09x y/y. Operating margins contracted to 14.2% from 14.6% Expected total return 7.5%

y/y, with EPS of $1.13 (up 7%) beating consensus’s $1.04, including tariff

Market Cap US$29,186M and tax benefits. Management maintained 2026 organic revenue growth

guidance of 3-4%, operating margins of 15.4-15.7%, and EPS of $4.80-

$5.00 (versus consensus’s $4.88), inclusive of $250M of cost inflation

(unchanged). With expectations low heading into the quarter, today’s Joanne WuenschAC

print should clear the bar, but we expect much attention on the 2H26E +1-212-816-9606

outlook. We rate GEHC Neutral. joanne.wuensch@citi.com

Anthony Occhiogrosso

Peeling the Onion — 1) Advanced Imaging Solutions posted sales of $3.77B (up +1-212-816-7579

5.0% y/y organic, versus consensus’s $3.70B), driven by strength in Cardiovascular anthony.occhiogrosso@citi.com

and Interventional Solutions, CT and Molecular Imaging; 2) Patient Care Solutions

Jane-Marie Lai