GE HealthCare reported 1% growth in organic revenues and a slight increase in profitability in its second quarter of 2024.
For the period (end-June 30), GE HealthCare had total revenues of $4.839 billion, flat compared with $4.817 billion in the in the same period last year. However, organic revenues reached $4.881 billion, up 1%, from $4.817 billion in the second quarter of last year. The company cited delayed China stimulus due to the country’s ongoing anticorruption campaign for modest growth.
Second-quarter net income attributed to GE HealthCare was $428 million versus $418 million for the prior year. Adjusted earnings before interest and taxes (EBIT) was $742 million versus $711 million, with an increase in margin from 14.8% last year to 15.3% in the second quarter this year.
On an individual segment basis, GE HealthCare's Imaging segment had revenues of $2.596 billion, down 1% from $2.62 billion in the second quarter last year. However, organic imaging revenue was $2.62 billion, representing flat revenue growth. Imaging EBIT increased by 3% to reach $286 million.
Meanwhile, the Ultrasound segment generated revenues of $823 million, down 1% on an organic basis over the same period a year ago. Segment EBIT was $178 million, down 7% from the second quarter of 2023.
The company’s Pharmaceutical Diagnostics segment generated $639 million in second-quarter revenues, a 14% increase on an organic basis over last year, GE HealthCare reported. Pharmaceutical Diagnostics segment EBIT was $200 million, up 31% over last year.
![Pittsburgh Compound B (PiB) PET distribution volume ratio (DVR) images were projected onto fsaverage surfaces from FreeSurfer and surface smoothed, with PiB (amyloid) slope maps created using ordinary least squares regression (time as only factor) and mixed effects models for 154 participants run at each vertex (P < .01; model: longitudinal Geriatric Depression Scale score estimated by amyloid slope × time + [sex + education + age] × time). This map visualizes the results of the linear mixed-effects models (t score of the main variable, amyloid slope × time) such that regions with a greater t score (red) represent areas in which greater depressive symptoms are associated with greater amyloid accumulation (amyloid slope). Anatomical landmarks are provided: L refers to the left hemisphere, R refers to the right hemisphere, and additional labels indicate the anterior and posterior ends of the brain. Images available for republishing under Creative Commons license (CC BY 4.0 DEED, Attribution 4.0 International) and courtesy of JAMA Open Network.](https://img.auntminnie.com/files/base/smg/all/image/2024/08/PET_depression.66cf997f7e441.png?auto=format%2Ccompress&dpr=2&fit=crop&h=167&q=70&w=250)
