By Connor Hart

GE HealthCare Technologies cut its profit outlook for the year after prices for memory chips, oil and freight jumped during the recent quarter.

The medical-technology company said Wednesday it now expects adjusted earnings of $4.80 to $5 a share for the year, down from a prior outlook of $4.95 to $5.15 a share. Analysts polled by FactSet are looking for adjusted earnings of $5.06 a share.

The company backed its forecast for organic revenue growth of 3% to 4% for the year.

"We are taking a prudent approach," Chief Executive Peter Arduini said about the lowered earnings outlook. He added that the company expects to offset more than half of the inflation impact with price and cost actions.

"Importantly, we are making meaningful progress executing on our new wave of innovation to accelerate future revenue and margin growth," he said.

Shares fell 5.2%, to $64.95, in premarket trading.

For the first quarter, GE HealthCare posted a profit of $389 million, or 85 cents a share, compared with $564 million, or $1.23 a share, a year earlier.

Stripping out one-time items, earnings were 99 cents a share. Analysts were looking for adjusted earnings of $1.05 a share.

Total revenues climbed 7.4% to $5.13 billion, ahead of Wall Street models for $5.03 billion.

Arduini said top-line growth came in at the high end of GE HealthCare's expectations, driven by strong commercial execution across its pharmaceutical diagnostics, advanced visualization solutions and imaging businesses.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 29, 2026 06:43 ET (10:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.