Jun 2026 (Q2 FY26) — Jul 29, 2026
GE HealthCare Q2 FY26 — Record Orders and Strong Innovation Pipeline Drive Performance
Read the full callGE HealthCare (GEHC) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
GE HealthCare earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5,131 | +7.4% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 10.0 | −3.1 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 389 | −31.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
26 of 30 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Recast financials for the new Advanced Imaging Solutions segment | provided with second quarter 2026 reporting | Mar 2026 | As a reminder, this is our first quarter reporting the combined business that were formerly known as imaging and advanced visualization solutions and we are providing a recast of prior period financials on our website. | Achieved |
| First-quarter adjusted EPS growth | mid-single-digit adjusted EPS growth year-over-year | Dec 2025 | However, we were disappointed by profit performance in the first quarter, which was impacted by a recall associated with a PDx supplier that has since been resolved. | Missed |
| Full-year foreign exchange impact on revenue | approximately 150 basis point benefit | Dec 2025 | we currently anticipate an approximate 100 basis point benefit to revenues this year. | Revised Down |
4 of GE HealthCare Technologies Inc.'s 64 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 61 more targets are in the full ledger.
Claimed
- Organic orders grew 11.1% year-over-year, reaching record levels.
- Backlog increased by $2.6 billion year-over-year to a record $23.9 billion.
- Book-to-bill ratio was 1.15x, the highest since the spin.
- Pharmaceutical Diagnostics organic revenue grew 14.6%, driven by contrast media and radiopharmaceuticals.
- Advanced Imaging Solutions organic revenue grew 5%, with EBIT margin up 90 bps.
Qualified
- Patient Care Solutions (PCS) organic revenue declined 13.5% and segment EBIT was negative due to operational fulfillment challenges.
- Adjusted EBIT margin declined 40 basis points year-over-year to 14.2%, impacted by PCS performance and inflationary costs.
- Inflationary costs (memory chips, oil, freight) were a 120 basis point headwind in the quarter.
Price
$69.76 +0.27% · +$0.19
Performance −5.8% 1Y
1Y: $74.05 on 17 Oct 2025 → $69.76. High $88.16 (8 Jan 2026), low $59.49 (29 Apr 2026).
- Previous close
- $69.57
- 52-week range
- $59.49 – $88.16
- One year
- −7.58%
Overview
- Symbol
- GEHC
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
26 of 30 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Recast financials for the new Advanced Imaging Solutions segment | provided with second quarter 2026 reporting | Mar 2026 | As a reminder, this is our first quarter reporting the combined business that were formerly known as imaging and advanced visualization solutions and we are providing a recast of prior period financials on our website. | Achieved |
| First-quarter adjusted EPS growth | mid-single-digit adjusted EPS growth year-over-year | Dec 2025 | However, we were disappointed by profit performance in the first quarter, which was impacted by a recall associated with a PDx supplier that has since been resolved. | Missed |
| Full-year foreign exchange impact on revenue | approximately 150 basis point benefit | Dec 2025 | we currently anticipate an approximate 100 basis point benefit to revenues this year. | Revised Down |
Claimed
- Organic orders grew 11.1% year-over-year, reaching record levels.
- Backlog increased by $2.6 billion year-over-year to a record $23.9 billion.
- Book-to-bill ratio was 1.15x, the highest since the spin.
- Pharmaceutical Diagnostics organic revenue grew 14.6%, driven by contrast media and radiopharmaceuticals.
- Advanced Imaging Solutions organic revenue grew 5%, with EBIT margin up 90 bps.
Qualified
- Patient Care Solutions (PCS) organic revenue declined 13.5% and segment EBIT was negative due to operational fulfillment challenges.
- Adjusted EBIT margin declined 40 basis points year-over-year to 14.2%, impacted by PCS performance and inflationary costs.
- Inflationary costs (memory chips, oil, freight) were a 120 basis point headwind in the quarter.
The full ledger
Open GE HealthCare Technologies Inc.’s full ledger
A free account opens 5 company ledgers a month. All 64 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
GE HealthCare Q1 FY26 — Top-line at the high end, but input-cost inflation forces a profit and cash-flow guide cut
Read the full callDec 2025 (Q4 FY25) — Feb 4, 2026
GE HealthCare Q4 FY25 — Strong Q4 Performance Driven by Innovation and Backlog Growth
Read the full callEvery analysed call
GE HealthCare earnings calls (GEHC)
Financials
What the filings say
Net profit, year on year: −31% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,839 | 4,863 | 5,320 | 4,777 | 5,007 | 5,143 | 5,698 | 5,131 |
| Operating profit | 608 | 676 | 801 | 629 | 654 | 653 | 827 | 515 |
| Operating margin | 12.6% | 13.9% | 15.1% | 13.2% | 13.1% | 12.7% | 14.5% | 10.0% |
| Profit before tax | 578 | 658 | 833 | 692 | 613 | 643 | 820 | 505 |
| Tax rate | 24.7% | 25.5% | 11.5% | 15.0% | 18.4% | 27.8% | 26.6% | 18.6% |
| Net profit | 428 | 470 | 721 | 564 | 486 | 446 | 588 | 389 |
| EPS ($ per share) | 0.94 | 1.03 | — | 1.23 | 1.06 | 0.98 | — | 0.85 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Equity capital | — | 0 | 5 | 5 | 5 |
| Reserves | — | 0 | 1,326 | 3,262 | 5,281 |
| Total liabilities | — | 17,947 | 25,144 | 24,437 | 26,307 |
| Fixed assets | — | 2,001 | 2,144 | — | — |
| Total assets | — | 27,539 | 32,454 | 33,089 | 36,906 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | 1,607 | 2,134 | 2,101 | 1,955 | 1,987 |
| Cash from investing | -1,761 | -398 | -558 | -914 | -1,047 |
| Cash from financing | -263 | -822 | -478 | -573 | 617 |
| Net cash flow | -451 | 890 | 1,055 | 387 | 1,623 |
| Capital expenditure | -248 | -310 | -387 | -401 | -482 |
| Free cash flow | 1,359 | 1,824 | 1,714 | 1,554 | 1,505 |
GEHC revenue by segment
PCS shrank from 16% to 13% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| AIS | — | — | — | — | — | — | — | 71% | — |
| P Dx | 13% | 12% | 13% | 15% | 15% | 14% | 15% | 16% | +15.6% |
| PCS | 16% | 16% | 16% | 16% | 14% | 14% | 14% | 13% | -13.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
GEHC operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Book-to-bill | 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 | $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.
Insider filings
77 filings between Feb 1, 2026 and Sep 14, 2026.
Open market
decisions to buy or sellPurchases
$6.42M
8 purchases by 8 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 32
- Award — granted as compensation
- 37
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| CULP H LAWRENCE JR | $5.00M | — | May 6, 2026 |
| Lobo Kevin | $641.8K | — | May 22, 2026 |
| Arduini Peter J | $249.8K | — | Apr 30, 2026 |
| SACCARO JAMES | $200.6K | — | May 1, 2026 |
| Jimenez Frank R | $105.8K | — | Apr 30, 2026 |
| Hochman Rodney F | $100.4K | — | May 12, 2026 |
| Yang Watkin Phoebe L. | $63.0K | — | May 8, 2026 |
| Stromberg William J | $61.7K | — | May 6, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 14, 2026 | Grogan William K Chief Financial Officer | Award | 62,256 | $0 |
| Sep 14, 2026 | Grogan William K Chief Financial Officer | Award | 12,840 | $0 |
| Sep 3, 2026 | Estrampes Catherine Chief Commer. & Growth Officer | Tax withheld | 508 | $35.8K |
| Sep 3, 2026 | O'Neill Kevin Michael CEO, PDx | Tax withheld | 718 | $50.7K |
| Sep 3, 2026 | Arduini Peter J President and CEO | Tax withheld | 6,303 | $444.7K |
| Sep 3, 2026 | Rackliffe Philip CEO, AIS | Tax withheld | 798 | $56.3K |
| Sep 3, 2026 | Jimenez Frank R GC & Corporate Secretary | Tax withheld | 1,480 | $104.4K |
| Sep 3, 2026 | Holton Adam Y Chief People Officer | Tax withheld | 673 | $47.5K |
| Sep 3, 2026 | Kass-Hout Taha Chief Technology Officer | Tax withheld | 1,502 | $106.0K |
| Sep 3, 2026 | Newcomb George A. Chief Accounting Officer | Tax withheld | 112 | $7.9K |
| Sep 1, 2026 | Arduini Peter J President and CEO | Tax withheld | 6,043 | $430.4K |
| Sep 1, 2026 | Rackliffe Philip CEO, AIS | Tax withheld | 226 | $16.1K |
| Sep 1, 2026 | Holton Adam Y Chief People Officer | Tax withheld | 659 | $46.9K |
| Sep 1, 2026 | Rackliffe Philip CEO, AIS | Tax withheld | 340 | $24.2K |
| Sep 1, 2026 | Kass-Hout Taha Chief Technology Officer | Tax withheld | 1,296 | $92.3K |
| Sep 1, 2026 | Bankes Jeannette CEO, Patient Care Solutions | Tax withheld | 1,064 | $75.8K |
| Sep 1, 2026 | Jimenez Frank R GC & Corporate Secretary | Tax withheld | 1,751 | $124.7K |
| Sep 1, 2026 | Jimenez Frank R GC & Corporate Secretary | Tax withheld | 1,380 | $98.3K |
| Sep 1, 2026 | Rackliffe Philip CEO, AIS | Tax withheld | 290 | $20.7K |
| Sep 1, 2026 | Arduini Peter J President and CEO | Tax withheld | 5,472 | $389.8K |
| Sep 1, 2026 | Kass-Hout Taha Chief Technology Officer | Tax withheld | 1,644 | $117.1K |
| Aug 15, 2026 | Holton Adam Y Chief People Officer | Tax withheld | 1,360 | $100.2K |
| May 22, 2026 | Lobo Kevin Director | Purchase | 10,000 | $641.8K |
| May 15, 2026 | Rackliffe Philip CEO, AIS | Award | 16,458 | $0 |
| May 15, 2026 | Bankes Jeannette CEO, Patient Care Solutions | Tax withheld | 5,535 | $346.9K |
| May 12, 2026 | Hochman Rodney F Director | Purchase | 1,618 | $100.4K |
| May 8, 2026 | Yang Watkin Phoebe L. Director | Purchase | 1,000 | $63.0K |
| May 7, 2026 | Yang Watkin Phoebe L. Director | Award | 3,586 | $0 |
| May 7, 2026 | Madden Anne T Director | Award | 2,282 | $0 |
| May 7, 2026 | Madden Anne T Director | Award | 3,586 | $0 |
| May 7, 2026 | Lobo Kevin Director | Award | 3,586 | $0 |
| May 7, 2026 | CULP H LAWRENCE JR Director | Award | 4,157 | $0 |
| May 7, 2026 | Hochman Rodney F Director | Award | 2,689 | $0 |
| May 7, 2026 | Hochman Rodney F Director | Award | 3,586 | $0 |
| May 7, 2026 | LESJAK CATHERINE A Director | Award | 3,586 | $0 |
| May 7, 2026 | CULP H LAWRENCE JR Director | Award | 3,586 | $0 |
| May 7, 2026 | Stromberg William J Director | Award | 3,586 | $0 |
| May 6, 2026 | CULP H LAWRENCE JR Director | Purchase | 80,805 | $5.00M |
| May 6, 2026 | Stromberg William J Director | Purchase | 1,000 | $61.7K |
| May 1, 2026 | SACCARO JAMES Chief Financial Officer | Purchase | 3,310 | $200.6K |
| Apr 30, 2026 | Jimenez Frank R GC & Corporate Secretary | Purchase | 1,750 | $105.8K |
| Apr 30, 2026 | Arduini Peter J President and CEO | Purchase | 4,169 | $249.8K |
| Mar 13, 2026 | Lobo Kevin Director | Award | 777 | $0 |
| Mar 2, 2026 | Kass-Hout Taha Chief Technology Officer | Award | 13,254 | $0 |
| Mar 2, 2026 | Rott Roland CEO, Imaging | Award | 8,576 | $0 |
| Mar 2, 2026 | Newcomb George A. Chief Accounting Officer | Award | 1,309 | $0 |
| Mar 2, 2026 | O'Neill Kevin Michael CEO, PDx | Award | 6,549 | $0 |
| Mar 2, 2026 | Bankes Jeannette CEO, Patient Care Solutions | Award | 6,861 | $0 |
| Mar 2, 2026 | Holton Adam Y Chief People Officer | Award | 5,457 | $0 |
| Mar 2, 2026 | Jimenez Frank R GC & Corporate Secretary | Award | 10,915 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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