GE HealthCare Technologies Inc. · GEHC · FY2025 Q1 · Calendar Q2 2025

GE HealthCare: Strong Orders, Lower Guidance on Tariff Costs

The call supports a constructive operating picture through strong orders, backlog, U.S. imaging demand, and product launches, but the lowered guidance shows that tariff costs and execution risks currently temper the case for sustained earnings growth.

Reported Before market openNASDAQHealthcare $29.69B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.91
EPS surprise — Reported versus consensus
Reported revenue — Consensus $4.66B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +3.3% Event window
SPY move +0.0% Same window
Abnormal move +3.3% Stock minus SPY
Volume 1.9× Versus trailing sessions
Subsequent drift +1.7% Up to 20 sessions
GEHCSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, the tone remained confident but the outlook became less supportive: tariff exposure led to lower adjusted EPS and free cash flow guidance. Management added tariff-mitigation actions, highlighted Flyrcado reimbursement and rollout progress, and reported continued order momentum.

Guidance delta

Guidance was lowered, with tariff exposure reducing adjusted EPS guidance by $0.85 per share and free cash flow guidance also reduced.

Key takeaways

  • Management described double-digit order growth and 4% organic revenue growth, led by U.S. imaging demand.
  • A record backlog and a 1.09 book-to-bill ratio support near-term revenue visibility.
  • Tariffs lowered adjusted EPS guidance, while mitigation and supply-chain actions are intended to reduce exposure.
  • Flyrcado rollout and the photon-counting CT pipeline remain important execution priorities.

Management priorities

  • Expand Flyrcado across U.S. sites and increase contract-manufacturing capacity.
  • Advance photon-counting CT toward FDA submission and a planned 2026 commercial launch.
  • Use local-for-local sourcing, dual sourcing, targeted M&A, and the announced share-repurchase program to support execution.

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Earnings History

Estimate Beat Miss Match
GEHC EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $0.91 Q1 '24 actual $0.90, match Q2 '24 estimate $0.98 Q2 '24 actual $1.00, beat Q3 '24 estimate $1.05 Q3 '24 actual $1.14, beat Q2 '25 estimate $0.92 Q2 '25 actual $1.06, beat Q3 '25 estimate $1.05 Q3 '25 actual $1.07, beat Q4 '25 estimate $1.40 Q4 '25 actual $1.44, beat Q1 '26 estimate $1.04 Q1 '26 actual $0.99, miss Q2 '26 estimate $1.04 Q2 '26 actual $1.13, beat Q3 '26 estimate $1.21 Q4 '26 estimate $1.62 Q1 '27 estimate $1.13
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Analyst Consensus ?

ConsensusBuy19 ratings
Bullish1157.9%
Neutral842.1%
Bearish00.0%

Analyst 52W Price Targets

$65.74Current
$65Low
$86.23Average
$110High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 11, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Needham Buy BuyMaintainOct 5, 2026
Citigroup Neutral NeutralMaintainOct 5, 2026
BTIG Buy BuyMaintainSep 17, 2026
UBS Neutral NeutralMaintainJul 31, 2026
Wells Fargo Overweight OverweightMaintainJul 30, 2026
Evercore ISI Group Outperform OutperformMaintainJul 30, 2026
JP Morgan Neutral NeutralMaintainApr 30, 2026
Goldman Sachs Neutral BuyDowngradeApr 30, 2026
Barclays Equal Weight Equal WeightMaintainApr 30, 2026
Piper Sandler Overweight OverweightMaintainApr 17, 2026
Mizuho Outperform OutperformMaintainApr 13, 2026
Stifel Buy BuyMaintainFeb 5, 2026
Morgan Stanley Equal Weight Equal WeightMaintainFeb 5, 2026
B of A Securities Neutral NeutralMaintainJan 5, 2026
Jefferies Buy BuyMaintainDec 11, 2025
Argus Research Buy BuyMaintainApr 1, 2024
Oppenheimer Outperform OutperformMaintainMay 16, 2023
Redburn Partners Buy BuyMaintainJan 19, 2023
Edward Jones Hold HoldMaintainJan 4, 2023
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Named analyst price targets

Upside is calculated against the persisted current price $65.74. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BarclaysAnalyst unavailable$85$64.77 +29.3%Oct 6, 2026
NeedhamAnalyst unavailable$93$64.81 +41.5%Sep 22, 2026
Evercore ISIAnalyst unavailable$84$69.06 +27.8%Jul 30, 2026
BTIGAnalyst unavailable$79$71.54 +20.2%Jul 29, 2026
UBSAnalyst unavailable$67$64.23 +1.9%Jul 16, 2026
BTIGRyan Zimmerman$75$64.7 +14.1%Jul 13, 2026
BMO CapitalAnalyst unavailable$70$64.68 +6.5%Jul 8, 2026
RBC CapitalAnalyst unavailable$80$60.64 +21.7%Jun 23, 2026
UBSGraham Doyle$69$64.26 +5.0%May 21, 2026
Evercore ISIAnalyst unavailable$80$59.81 +21.7%Apr 30, 2026
OppenheimerSuraj Kalia$85$60.04 +29.3%Apr 30, 2026
BarclaysMatt Miksic$78$59.48 +18.6%Apr 30, 2026
Goldman SachsDavid Roman$65$59.48 -1.1%Apr 30, 2026
Stifel NicolausAnalyst unavailable$80$60.06 +21.7%Apr 29, 2026
Piper SandlerAnalyst unavailable$88$73.2 +33.9%Apr 17, 2026
Mizuho SecuritiesAnalyst unavailable$90$72.69 +36.9%Apr 13, 2026
BarclaysAnalyst unavailable$87$82.31 +32.3%Feb 6, 2026
Stifel NicolausRick Wise$98$82.63 +49.1%Feb 4, 2026
Morgan StanleyAnalyst unavailable$85$82.63 +29.3%Feb 4, 2026
BTIGRyan Zimmerman$91$83.7 +38.4%Feb 4, 2026
Piper SandlerAnalyst unavailable$94$78.78 +43.0%Jan 30, 2026
UBSAnalyst unavailable$77$85.3 +17.1%Jan 15, 2026
Goldman SachsAnalyst unavailable$98$88.16 +49.1%Jan 9, 2026
Stifel NicolausAnalyst unavailable$95$86.73 +44.5%Jan 7, 2026
Evercore ISIAnalyst unavailable$95$84.2 +44.5%Jan 5, 2026
JefferiesAnalyst unavailable$105$85.54 +59.7%Dec 11, 2025
Stifel NicolausRick Wise$90$76.29 +36.9%Nov 21, 2025
Wells FargoLarry Biegelsen$87$77.38 +32.3%Oct 30, 2025
BTIGAnalyst unavailable$87$77.38 +32.3%Oct 29, 2025
BTIGRyan Zimmerman$89$71.01 +35.4%Oct 13, 2025
BarclaysAnalyst unavailable$86$71.01 +30.8%Oct 13, 2025
Morgan StanleyAnalyst unavailable$74$74 +12.6%Sep 18, 2025
UBSGraham Doyle$73$69.37 +11.0%May 5, 2025
BTIGRyan Zimmerman$95$64.39 +44.5%Apr 14, 2025
Piper SandlerJason Bednar$97$82.08 +47.6%Nov 15, 2024
UBSGraham Doyle$74$93.01 +12.6%Sep 26, 2024
Bank of America SecuritiesCraig Bijou$97$90.62 +47.6%Sep 20, 2024
BTIGRyan Zimmerman$100$86.79 +52.1%Sep 18, 2024
Goldman SachsDavid Roman$87$78.45 +32.3%May 30, 2024
Piper SandlerJason Bednar$92$81.5 +39.9%May 21, 2024
Mizuho SecuritiesAnthony Petrone$105$77.74 +59.7%May 1, 2024
Evercore ISIVijay Kumar$96$76.24 +46.0%Apr 30, 2024
Mizuho SecuritiesAnthony Petrone$110$85.39 +67.3%Apr 11, 2024
Argus ResearchDavid Toung$110$90.91 +67.3%Apr 1, 2024
UBSGraham Doyle$88$83.17 +33.9%Feb 12, 2024
Morgan StanleyPatrick Wood$76$77.17 +15.6%Jun 27, 2023
OppenheimerSuraj Kalia$97$77 +47.6%May 16, 2023
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Company context

Snapshot as of publication

GE HealthCare Technologies Inc. is a global medical technology company that creates, manufactures, and markets a diverse range of medical devices, services, and integrated digital solutions. These offerings are designed to assist in the diagnosis, treatment, and ongoing monitoring of patients. The company boasts an extensive international presence, serving markets across the United States, Canada, Europe, the Middle East, Africa, China, Taiwan, Mongolia, and Hong Kong, among other regions. Its operations are structured across four primary business divisions: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics. The Imaging division specializes in advanced diagnostic imaging technologies, including systems for molecular imaging, Computed Tomography (CT) scans, Magnetic Resonance (MR) imaging, image-guided therapy, and X-ray, alongside specialized women's health products.…

Historical context

All GEHC earnings

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-23T03:38:32.114269+00:00
  3. Polygon adjusted daily market bars · 2026-10-11T21:40:44.924776+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-11T21:40:44.922578+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-11. For educational purposes only; not investment advice.