Why GE HealthCare Technologies (GEHC) Stock Is Tumbling Today - GE HealthCare Techs (NASDAQ:GEHC)

GE HealthCare Technologies Inc GEHC has reported Q1 FY23 sales of $4.71 billion, up 8% Y/Y and 12% on organic basis, beating the consensus of $4.63 billion.
Foreign exchange negatively impacted growth by 4%.
Net income attributable to GE HealthCare was $372 million versus $389 million for the prior year, and Adjusted EBIT was $664 million versus $599 million.
The company posted an adjusted EPS of $0.85, compared to $0.96 in the prior year.
Cash flow from operating activities was $468 million, flat year-over-year with working capital improvement.
GE HealthCare President and CEO Peter Arduini said, "We saw strong revenue growth across all of our business segments and regions as supply chain challenges eased."
Imaging revenues of $2.5 billion increased by 8% reported and 12% on an Organic basis.
Ultrasound revenues increased 5% Y/Y to $859 million (up 10% on an organic basis).
Patient Care Solutions revenues of $781 million increased by 9% (11% organic).
Pharmaceutical Diagnostics sales reached $558 million, up 15% reported (19% organic).
Dividend: The company initiated a quarterly dividend of $0.03.
Guidance: GE HealthCare reaffirmed FY23 organic revenue growth of 5%-7% year-over-year. It sees an adjusted EBIT margin of 15%-15.5%.
The company forecasts adjusted EPS of $3.60-$3.75 vs. $3.72 consensus.
Price Action: GEHC shares are down 8.77% at $80.09 on the last check Tuesday.

Why GE HealthCare Tech Stock Is Tumbling Today