GE HealthCare Technologies Inc
For the period ended Sep 30, 2024. Filed Oct 30, 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.
Sep 30, 2024 · Filed Oct 30, 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 September 30 | For the nine months ended September 30 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | % of segment revenues | 2023 | % of segment revenues | % change | 2024 | % of segment revenues | 2023 | % of segment revenues | % change | |
| Segment EBIT(1) | ||||||||||
| Imaging | $287 | 12.9% | $243 | 10.9% | 18% | $660 | 10.2% | $566 | 8.6% | 17% |
| AVS | 232 | 19.0% | 254 | 20.9% | (9)% | 744 | 20.2% | 798 | 21.5% | (7)% |
| PCS | 82 | 10.6% | 80 | 10.5% | 3% | 241 | 10.5% | 273 | 11.8% | (12)% |
| PDx | 193 | 30.9% | 166 | 28.2% | 16% | 571 | 30.6% | 473 | 27.6% | 21% |
(1)For additional details regarding Segment EBIT, see Note 3, “Segment Information.”
Imaging Segment EBIT was $287 million, an increase of $44 million due to cost productivity, favorable mix, and an increase in price, partially offset by cost inflation;
AVS Segment EBIT was $232 million, a decrease of $22 million due to unfavorable mix, with cost productivity offsetting inflation;
PCS Segment EBIT was $82 million, an increase of $2 million with cost productivity offsetting inflation; and
PDx Segment EBIT was $193 million, an increase of $27 million due to an increase in price, growth in sales volume, and cost productivity.
Imaging Segment EBIT was $660 million, an increase of $94 million due to cost productivity and an increase in price, partially offset by cost inflation;
AVS Segment EBIT was $744 million, a decrease of $54 million due to cost inflation and unfavorable mix, partially offset by cost productivity;
PCS Segment EBIT was $241 million, a decrease of $32 million due to cost inflation and a decrease in sales volume, partially offset by cost productivity; and
PDx Segment EBIT was $571 million, an increase of $98 million due to an increase in price, growth in sales volume, and cost productivity, partially offset by investments and cost inflation.
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