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GE HealthCare shares rise after strong Q2 with record backlog

GE HealthCare reported about 11% organic order growth year over year and a post-spin-off record book-to-bill ratio of roughly 1.15x.

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GE HealthCare Technologies shares climbed after the company posted strong second-quarter earnings, with demand signals pointing to an accelerating cycle of hospital equipment spending, according to MarketBeat Ratings.

The company reported organic order growth of roughly 11% year over year and said its book-to-bill ratio hit a post-spin-off record of about 1.15x, indicating new orders arriving faster than fulfillment and billing.

GE HealthCare also raised its total backlog to $23.9 billion, up around $2.6 billion from the prior year. The report tied the momentum to two growth engines, including Pharmaceutical Diagnostics, which delivered 14.6% organic revenue growth in the quarter.

MarketBeat Ratings also noted that GE HealthCare was reviewing a possible sale of its underperforming Patient Care Solutions segment.

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