GE HealthCare reported Q4 adjusted earnings of $1.44 per share, surpassing the consensus estimate of $1.40, while quarterly revenues reached $5.69 billion versus estimates of $5.61 billion. This 7.1% year-over-year revenue increase—including 4.8% organic growth—was driven by strong demand in North America and EMEA. Total orders rose 2.0% organically, yielding a book-to-bill ratio of 1.06, and full-year 2025 revenues climbed 4.8% to $20.6 billion with 3.5% organic growth.

Despite top-line strength, net income margin contracted 320 basis points to 10.3%, and adjusted EBIT margin declined 200 basis points to 16.7%. Tariff expenses and an unfavorable product mix weighed on profitability, partially offset by pricing discipline and volume gains. For the full year, adjusted EBIT margin fell 100 basis points to 15.3%, though excluding tariff impacts the margin would have expanded.

Imaging sales rose 6.6% year-over-year to $2.55 billion (5.3% organically), while Advanced Visualization Solutions delivered 5.9% growth to $1.53 billion (4.2% organically). Pharmaceutical Diagnostics led with 22.3% growth to $790 million (12.7% organic), reflecting strong uptake of new assays. Patient Care Solutions dipped 0.3% to $825 million, down 1.1% on an organic basis. Segment EBIT margins ranged from 9.0% in Patient Care Solutions to 29.6% in Pharmaceutical Diagnostics.

Looking ahead, GE HealthCare forecasts fiscal 2026 adjusted EPS of $4.95–$5.15 and expects 3.0–4.0% organic revenue growth. Adjusted EBIT margin is projected to expand 50–80 basis points to 15.8–16.1%, with tariff headwinds moderating versus 2025. Management plans to leverage a differentiated innovation pipeline, record backlog and continued investment in its proprietary Heartbeat system to drive profitable growth, strong cash flow and shareholder value.