General Electric Co.’s healthcare spinoff on Wednesday gave investors a peek at its balance sheet just days ahead of becoming a stand-alone public company, listing revenue of more than $13 billion in the first nine months of the year.GE GE announced plans to split itself into three... General Electric Co.
GE Healthcare, to be renamed GE HealthCare Technologies Inc., said it earned $1.309 billion in the nine months ended in September, compared with earnings of $1.159 billion in the comparable period a year ago. Revenue fell to $13.4 billion from a year-earlier $17.59 billion. GE’s board formally authorized the split in late November. The new company is slated to trade on the Nasdaq under the symbol “GEHC.”
In Wednesday’s prospectus, GE said it had reached the decision to split after concluding that the spinoff is “the most attractive alternative for enhancing stockholder value.” Shares of GE were flat in the extended session after ending the regular trading day down 1.6%. The stock has fallen 14% this year, slightly less than the 16% decline of the S&P 500 index SPX .