In This Story
GE HealthCare Technologies Inc. (GEHC-1.08%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $19,672 million, a slight increase from $19,552 million in the previous year. The growth in revenues was primarily driven by an increase in sales of services.
Operating income for the year was $2,625 million, up from $2,435 million in the prior year. This increase was attributed to cost productivity and an increase in pricing, partially offset by cost inflation.
Net income attributable to GE HealthCare was $1,993 million, compared to $1,568 million in the previous year. The improvement in net income was largely due to a decrease in interest and other financial charges.
GE HealthCare reported cash from operating activities of $1,955 million, a decrease from $2,101 million in the prior year. Free cash flow was $1,554 million, down from $1,715 million.
Segment revenues were mixed, with Imaging revenues decreasing by 1% to $8,855 million, while Pharmaceutical Diagnostics (PDx) revenues increased by 9% to $2,508 million. Advanced Visualization Solutions (AVS) and Patient Care Solutions (PCS) segments showed slight changes in revenue.
GE HealthCare's total debt was reported at $8,951 million as of December 31, 2024, down from $9,442 million at the end of 2023. The decrease was primarily due to repayments of the Term Loan Facility.
The filing also details the company's acquisition of MIM Software Inc. for approximately $259 million, net of cash acquired, with potential contingent payments.
GE HealthCare continues to face challenges from global economic conditions, including geopolitical instability and inflationary pressures, which could impact future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GE HealthCare Technologies Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.