GEHC GE HealthCare (GEHC) Q1 FY26 earnings call
GE HealthCare opened FY26 with demand-led top-line strength and a record backlog, yet a mid-quarter spike in memory-chip, freight and commodity costs forced a rare profit and cash-flow guide cut even as revenue guidance held. Management frames 2026 as a pivotal innovation year — Photon Counting CT, next-gen MR and a radiopharma ramp seeding 2027 acceleration — while price and cost actions backload the earnings recovery to the second half.
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GEHC operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Book-to-bill | 1.09 ratioOrder dollars continued to outpace sales, helping us deliver strong total company book-to-bill of 1.09x, our highest since the spin.Source: earnings call transcript | 1.09 ratioBook-to-bill in the quarter was strong at 1.09x.Source: earnings call transcript | 1.07 ratioBook-to-bill for the quarter was strong at 1.07x, and we exited the quarter with a record backlog of $21.3 billion.Source: earnings call transcript | 1.06 ratioWe delivered strong book-to-bill at 1.06x, and we exited the quarter with a solid backlog at $21.2 billion.Source: earnings call transcript | 1.06 ratioWe exited the quarter with a record backlog of $21.8 billion, which grew $2 billion year-over-year and $600 million sequentially, and we delivered a book-to-bill ratio of 1.06x.Source: earnings call transcript | 1.07 ratioWe delivered a solid book-to-bill at 1.07x, and we exited the quarter with a record backlog of $21.8 billion, up $1.2 billion year-over-year.Source: earnings call transcript | 1.15 ratioOrders increased 11% and with strong backlog, which grew $2.6 billion year-over-year and book-to-bill of 1.15x, all of which were at record levels.Source: earnings call transcript | +7.5% |
| Backlog | $19.8BWe exited the fourth quarter with a record backlog of $19.8 billion, up $700 million year-over-year and up $200 million sequentially.Source: earnings call transcript | $20.6BWe also exited the quarter with a record backlog of $20.6 billion, up $1.9 billion year-over-year and also up $800 million sequentially.Source: earnings call transcript | $21.3BBook-to-bill for the quarter was strong at 1.07x, and we exited the quarter with a record backlog of $21.3 billion.Source: earnings call transcript | $21.2BWe delivered strong book-to-bill at 1.06x, and we exited the quarter with a solid backlog at $21.2 billion.Source: earnings call transcript | $21.8BWe exited the quarter with a record backlog of $21.8 billion, which grew $2 billion year-over-year and $600 million sequentially, and we delivered a book-to-bill ratio of 1.06x.Source: earnings call transcript | $21.8BWe delivered a solid book-to-bill at 1.07x, and we exited the quarter with a record backlog of $21.8 billion, up $1.2 billion year-over-year.Source: earnings call transcript | $23.9BBook-to-bill was 1.15x, also our highest since the spend, and we exited the quarter with a record backlog of $23.9 billion, up $2.6 billion year-over-year and $2.1 billion sequentially.Source: earnings call transcript | +9.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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