The 5 Most Interesting Analyst Questions From GE HealthCare's Q3 Earnings Call

GE HealthCare’s third quarter saw revenue and adjusted profit come in slightly above Wall Street’s expectations, but the market reacted negatively, reflecting concerns about margin pressures. Management pointed to strong demand across imaging and pharmaceutical diagnostics as primary drivers, with robust orders growth and new enterprise deals contributing to a healthy backlog. However, increased tariffs and a product hold in Patient Care Solutions weighed on profitability. CEO Peter Arduini noted, “We delivered robust orders growth of 6% with growth across all segments,” while CFO Jay Saccaro highlighted that tariff impacts reduced adjusted EBIT margin by 180 basis points, partially offset by volume and pricing gains.

Is now the time to buy GEHC? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From GE HealthCare’s Q3 Earnings Call

• Lawrence Biegelsen (Wells Fargo) asked about GE HealthCare’s outlook for China and how its recovery affects medium-term growth. CEO Peter Arduini replied that while China has been challenged, there are no structural barriers to growth, and the business remains optimistic about long-term prospects.
• Travis Steed (Bank of America Securities) questioned the decision not to raise full-year revenue guidance despite quarterly strength. Arduini explained that the company’s Q4 outlook assumes typical sequential step-ups and a cautious approach given product shipment timing.
• Joanne Wuensch (Citibank) inquired about the timing of Photon Counting product launches and the recovery path for Patient Care Solutions. Arduini affirmed that Photon Counting is on track for major industry events, while CFO Jay Saccaro noted meaningful sales and margin recovery is expected now that the product hold is resolved.
• David Roman (Goldman Sachs) sought clarity on margin dynamics amid R&D cost reclassifications and the impact of new launches. Saccaro detailed that as more products move from R&D to commercialization, margin expansion should resume, especially as the tariff burden lessens.
• Vijay Kumar (Evercore ISI) asked about the rollout of Flyrcado with distribution partner CDL and potential for ramping volume. Arduini indicated that GE HealthCare will be short of the $30 million Flyrcado target in 2025, emphasizing the deliberate, phased approach to ensure a positive customer experience before accelerating the rollout in 2026.

Catalysts in Upcoming Quarters

In the coming quarters, our team will closely watch (1) the launch and adoption rates of new AI-driven products, especially those introduced at RSNA; (2) margin recovery in Patient Care Solutions following the product hold; and (3) progress on tariff mitigation and supply chain adjustments. Additional signals include the pace of recurring revenue growth from radiopharmaceuticals and digital solutions.

GE HealthCare currently trades at $74.83, down from $79.44 just before the earnings. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it’s free for active Edge members).

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