GE HealthCare Technologies Inc
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
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Results of Operations – Segments
We exclude from Segment EBIT certain corporate-related expenses and certain transactions or adjustments that our Chief Operating Decision Maker (which is our Chief Executive Officer) considers to be non-operational, such as Interest and other financial charges – net, Benefit (provision) for income taxes, restructuring costs, acquisition and disposition-related benefits (charges), Spin-Off and separation costs, Non-operating benefit (income) costs, gain (loss) on business and asset dispositions, amortization of acquisition-related intangible assets, Net (income) loss attributable to noncontrolling interests, Income (loss) from discontinued operations, net of taxes, and investment revaluation gain (loss). See “Results of Operations” section above for discussion on segment revenue performance.
| Segment EBIT | For the three months ended June 30 | For the six months ended June 30 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | % of segment revenues | 2023 | % of segment revenues | % change | 2024 | % of segment revenues | 2023 | % of segment revenues | % change | |
| Segment EBIT(1) | ||||||||||
| Imaging | $286 | 11.0% | $278 | 10.6% | 3% | $526 | 10.4% | $469 | 9.2% | 12% |
| Ultrasound | 178 | 21.6% | 191 | 22.8% | (7)% | 360 | 21.9% | 398 | 23.4% | (10)% |
| PCS | 78 | 10.1% | 84 | 10.9% | (8)% | 159 | 10.5% | 193 | 12.4% | (18)% |
| PDx | 200 | 31.2% | 152 | 26.8% | 31% | 378 | 30.5% | 307 | 27.3% | 23% |
(1)For additional details regarding Segment EBIT, see Note 3, “Segment Information.”
Imaging Segment EBIT was $286 million, an increase of $8 million due to cost productivity and an increase in price, partially offset by cost inflation;
Ultrasound Segment EBIT was $178 million, a decrease of $13 million primarily due to lower sales in China and cost inflation, partially offset by cost productivity;
PCS Segment EBIT was $78 million, a decrease of $6 million due to product mix, with cost productivity offsetting inflation; and
PDx Segment EBIT was $200 million, an increase of $48 million due to a growth in sales volume, cost productivity, and an increase in price, partially offset by cost inflation.
Imaging Segment EBIT was $526 million, an increase of $57 million due to cost productivity and an increase in price, partially offset by cost inflation;
Ultrasound Segment EBIT was $360 million, a decrease of $38 million due to cost inflation and a decrease in sales volume, particularly in China, partially offset by cost productivity;
PCS Segment EBIT was $159 million, a decrease of $34 million due to cost inflation and a decrease in sales volume, partially offset by cost productivity; and
PDx Segment EBIT was $378 million, an increase of $71 million due to growth in sales volume, an increase in price, and cost productivity, partially offset by cost inflation and investments.
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