GE (NYSE:GE) shares ticked up today on second-quarter results that beat the consensus forecast.
The Boston-based company’s healthcare segment posted profits of $801 million, registering a bottom-line gain of 58.3% year-over-year on sales of $4.5 billion — a 14% increase on revenues from the previous year.
GE’s overall sales totaled $18.3 billion for the three months ended June 30, 2021, marking sales growth of 8.8%. Adjusted to exclude one-time items, earnings per share were 5¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $18.1 billion.
“The GE team delivered strong overall performance in the second quarter,” GE chairman & CEO H. Lawrence Culp Jr. said in a news release. “Orders and revenue returned to growth, our operating margins expanded across all segments, and we generated positive Industrial free cash flow. Momentum is building across our businesses, driven by healthcare and services overall … Based on our encouraging cash results, we are increasing our full-year free cash flow outlook.”
The company reiterated its expectation of logging full-year adjusted EPS of between 15¢ and 25¢, with projections of revenue growth in the low-single-digit range.
GE shares were up 1.1% at $13.06 per share in early-morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was slightly up, rising 0.2% this morning.
