Bausch + Lomb Corporation ( (BLCO) ) has realeased its Q3 earnings. Here is a breakdown of the information Bausch + Lomb Corporation presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Bausch + Lomb Corporation, a global leader in eye health, offers a wide range of products including contact lenses, eye care products, and surgical devices, with a presence in nearly 100 countries. In its third-quarter 2024 earnings report, the company reported a revenue of $1.196 billion, marking a 19% increase compared to the same quarter last year. This growth was attributed to strong performance across all business segments, particularly in pharmaceuticals, which saw a 76% increase in revenue due to acquisitions and new product launches.
The company’s Vision Care and Surgical segments also experienced revenue growth of 6% and 11%, respectively. Bausch + Lomb’s net income for the quarter improved significantly to $4 million from a net loss of $84 million in the previous year. Adjusted EBITDA increased to $212 million, driven by higher sales despite increased investments in product launches. Additionally, the company raised its full-year 2024 revenue guidance, reflecting confidence in sustained growth.
The solid performance of new products such as MIEBO and XIIDRA, along with the expansion of their premium product lines, contributed to the company’s positive financial results. Cash flow from operations also improved significantly, highlighting the company’s effective management of working capital and operational efficiencies.
Looking ahead, Bausch + Lomb remains optimistic about its growth prospects, supported by ongoing product launches and strategic initiatives aimed at enhancing its market position. The company continues to focus on executing its multi-dimensional launch cycles globally, expecting to maintain momentum in the coming quarters.
