GE (NYSE:GE) announced that its GE HealthCare subsidiary closed an offering of senior notes worth $8.5 billion. The company earlier this month announced the offering in connection with the planned spinoff of GE HealthCare. It anticipates the spinoff to go through in the first week of January 2023. According to a news release, GE’s offering […]
GE
GE offering $8.25 billion in notes to help finance GE HealthCare spinoff
GE (NYSE:GE) announced today that it is offering $8.25 billion in senior notes in connection with its planned spinoff of GE HealthCare. The spinoff remains on track to take place during the first week of January 2023. It’s common for companies spinning out of larger parents to start out with debt. For example, spine and […]
GE posts mixed-bag Q3 results as GE HealthCare spinoff remains on track
GE (NYSE: GE) this week posted third-quarter results that beat the revenue consensus on Wall Street but missed on earnings. GE HealthCare spinoff plans remain on track for an early January 2023 completion. The Boston-based company reported a loss of -21¢ per share for the three months ended Sept. 30, 2022, versus a profit of […]
GE beats The Street in Q1, stock falls as supply chain issues impact guidance
GE (NYSE:GE) shares took a hit today despite first-quarter results ahead of the consensus forecast. GE shares were down more than 11% at $79.44 apiece by afternoon trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 2.3% as the overall U.S. stock market dropped […]
GE cuts CEO compensation amid shareholder concern
GE (NYSE:GE) announced that CEO Larry Culp has agreed to reduce his annual equity incentive grant for 2022. Culp’s employment agreement had him receiving a $15 million equity incentive grant this year. He’ll instead receive $5 million, according to a company proxy statement filed yesterday. “Shareholders have been overwhelmingly supportive of Larry and the action […]
Three GE Healthcare leaders outline their vision for AI and the cloud in medtech
Set to spin off from parent company GE (NYSE:GE) next year, GE Healthcare leverages artificial intelligence (AI) to help providers improve efficiency, patient outcomes and access to care. The medtech giant’s offerings include AI-based imaging applications and its Edison Health Services platform. As part of the Medical Design & Outsourcing cloud conversation series with medtech […]
GE misses Q4 sales projections as supply chain issues cause healthcare revenues to dip
GE (NYSE:GE) shares took a dip today on fourth-quarter results that came up shy of the consensus revenue forecast amid supply chain problems. The Boston-based company posted losses of $3.9 billion, or $3.55 per share, on sales of $20.3 billion for the three months ended Dec. 31, 2021, for a massive bottom-line slide from profits […]
BREAKING: GE Healthcare to become stand-alone company in 2023
GE (NYSE:GE) announced plans today to split apart into three separate companies in coming years, including a stand-alone GE Healthcare. GE Healthcare brought in $17 billion in sales in 2020 and remains one of the 10 largest medtech businesses in the world, even after GE divested its Biopharma business to Danaher in early 2020. Boston-based […]
GE warns of supply chain strain well into 2022
Medical device makers and suppliers seeking relief from the global semiconductor shortage will have to hold on a while longer. GE (NYSE:GE) is warning investors that supply and labor shortages are squeezing its Healthcare business this quarter, and that the pressure won’t likely let up in 2021. GE Healthcare’s business “largely is a supply chain […]
GE beats The Street as healthcare segment thrives in Q2
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 […]
GE ticks up on mixed-bag Q4
General Electric (NYSE:GE) shares ticked up today on fourth-quarter results that were mixed compared the consensus forecast. The Boston-based company posted profits of $2.6 billion, or 27¢ per share, on sales of $21.9 billion for the three months ended Dec. 31, 2020, more than tripling its bottom line despite a sales decline of -16.4%. Adjusted to […]