Bausch Health Companies Announces Strong Second Quarter Results
Revenue Growth, Earnings Beat, and Raised Guidance
WEB Bausch Health Companies Inc. (BHC) has released its second quarter financial results, which exceeded expectations and prompted a raise in the company's full-year outlook. Consolidated revenues reached $2.40 billion, marking an 11% increase on a reported basis and 8% on a constant currency basis. Earnings per share came in at $0.98, surpassing analyst estimates.
Highlights:
- Full-year revenue growth in Salix, International, Solta, and Bausch Lomb segments
- Reaffirmed Adjusted EBITDA non-GAAP guidance range
- Raised full-year revenue outlook
- Anticipated roadmap for 2023 and beyond
The company attributes its strong performance to increased sales of key products, including VYZULTA, LUSTRUM, and Xiidra. The Salix segment also contributed significantly to revenue growth, driven by the acquisition of Allergan's gastroenterology portfolio. Bausch Lomb's performance was boosted by the launch of its new ULTRA contact lenses.
Based on the positive results, Bausch Health has raised its full-year revenue outlook. The company now expects revenue in the range of $9.6 billion to $10.0 billion, compared to the previous guidance of $9.4 billion to $9.8 billion. The Adjusted EBITDA non-GAAP guidance range remains unchanged.
Bausch Health's CEO, Joseph Papa, expressed optimism about the company's future prospects. "Our strong second quarter results demonstrate the momentum in our business and reinforce our belief in our strategy. We remain confident in our ability to continue driving growth and delivering value to our stakeholders."
Forward-looking statements included in this article are based on the company's current expectations and are subject to risks and uncertainties. Bausch Health assumes no obligation to update these statements in the future.
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