Bausch + Lomb (BLCO) shares ended the last trading session 14.5% higher at $17.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.8% loss over the past four weeks. Bausch + Lomb scored a strong price increase on investors' optimism surrounding a Financial Times report stating that the company is contemplating a sale to address challenges related to its spin-off from the parent company Bausch Health. Private equi ...

The highly indebted healthcare stock rose on rumors it may be selling itself. Shares of Bausch + Lomb (BLCO 15.63%) rallied 15.7% as of 3:07 p.m. ET today. The stock is surging today on news the company is considering selling itself. Of note, Bausch + Lomb is the eye-care subsidiary of Bausch Health Companies, which was formerly known as Valeant Pharmaceuticals. Bausch Health prefers cash, not shares Valeant got into trouble nearly a decade ago after using debt to buy up several pharmaceutical companies, th ...

Key Takeaways Bausch + Lomb is discussing a possible sale that would separate it from its parent company, Bausch Health Cos. Bausch Health is saddled with debt of $21 billion, nearly $10 billion of which is set to mature in 2027. In July, Bausch Health pushed back against a research firm's report that said it was mulling bankruptcy options. Bausch + Lomb (BLCO) shares popped Monday following a report that the eyecare company is considering a sale. The contact lens producer is working with Goldman Sachs (GS) ...

Product Portfolio and Development - Bausch + Lomb reported a comprehensive portfolio of approximately 400 products in eye health, marketed in around 100 countries [161]. - The company has over 60 projects in its global pipeline, including new contact lenses and next-generation cataract equipment [166]. - The acquisition of XIIDRA in September 2023 enhances the company's dry eye franchise, being the first non-steroid eye drop approved for dry eye disease [171]. - The company launched Blink NutriTears in June 2024, targeting root causes of dry eyes and promoting healthy tear production [168]. - Bausch + Lomb's Vision Care segment includes leading products like Biotrue ONEday daily disposables and Biotrue multi-purpose solution [163]. - The Surgical segment includes key brands such as Akreos and VICTUS femtosecond laser, focusing on cataract and retinal conditions [164]. - The company acquired AcuFocus in January 2023, enhancing its surgical portfolio with the IC-8 Apthera IOL [171]. - The company plans to launch enVista Aspire and enVista Envy in the U.S. and Europe in 2024 and 2025, respectively [169]. - The company has received FDA approval for Lumify Preservative Free, expected to launch in Q1 2025 [167]. Financial Performance - Product sales for the three months ended June 30, 2024, were $1,213 million, an increase of $182 million (approximately 17.6%) compared to $1,031 million for the same period in 2023 [190]. - Total revenues for the six months ended June 30, 2024, were $2,315 million, up $349 million (approximately 17.8%) from $1,966 million for the same period in 2023 [190]. - Operating income for the three months ended June 30, 2024, was $26 million, a decrease of $17 million (approximately 39.5%) compared to $43 million for the same period in 2023 [190]. - Net loss attributable to Bausch + Lomb Corporation for the three months ended June 30, 2024, was $151 million, an increase of $119 million compared to a net loss of $32 million for the same period in 2023 [190]. - The cost of goods sold for the three months ended June 30, 2024, was $482 million, an increase of $65 million (approximately 15.6%) compared to $417 million for the same period in 2023 [190]. - Selling, general, and administrative expenses for the three months ended June 30, 2024, were $535 million, an increase of $118 million (approximately 28.3%) compared to $417 million for the same period in 2023 [190]. - Revenues for the three months ended June 30, 2024, were $1,216 million, an increase of $181 million, or 17%, compared to $1,035 million in 2023 [192]. - Vision Care segment revenue increased by $51 million, or 8%, to $697 million, driven by sales from the dry eye portfolio and contact lenses, despite a $20 million unfavorable impact from foreign currencies [198]. - Pharmaceuticals segment revenue rose by $116 million, or 60%, to $310 million, primarily due to the XIIDRA acquisition and the launch of MIEBO, with incremental sales from XIIDRA contributing $89 million [199]. - Surgical segment revenue increased by $14 million, or 7%, to $209 million, driven by increased system sales and demand for consumables [199]. Cost and Expense Management - Cost of goods sold increased by $65 million, or 16%, to $482 million, primarily due to costs associated with recent acquisitions [204]. - SG&A expenses rose by $118 million, or 28%, to $535 million, mainly due to higher selling and advertising costs related to XIIDRA and MIEBO [205]. - R&D expenses decreased slightly by $1 million, or 1%, to $84 million, reflecting ongoing investment in product development [207]. - Amortization of intangible assets increased by $18 million, or 32%, to $74 million, primarily due to acquisitions [208]. - Operating income decreased by $17 million to $26 million, reflecting increased SG&A and amortization expenses [210]. - Total provisions to reduce gross product sales to net product sales were 35.4% for Q2 2024, up from 29.1% in Q2 2023, primarily due to increased rebates [202]. Segment Performance - Vision Care segment profit increased to $192 million in Q2 2024, up 15% from $167 million in Q2 2023, driven by higher volume and pricing [214]. - Pharmaceuticals segment profit rose to $78 million in Q2 2024, a 15% increase from $68 million in Q2 2023, primarily due to increased contributions from XIIDRA and MIEBO [214]. - Surgical segment profit decreased to $4 million in Q2 2024, down 56% from $9 million in Q2 2023, attributed to higher costs and selling expenses [215]. - Total revenues for the six months ended June 30, 2024, were $2,315 million, an 18% increase from $1,966 million in 2023, driven by acquisitions and increased volumes [221]. - Vision Care segment revenue was $1,332 million for the six months ended June 30, 2024, an 8% increase from $1,233 million in 2023, primarily from dry eye products and contact lenses [225]. - Pharmaceuticals segment revenue surged to $577 million in the first half of 2024, a 63% increase from $355 million in 2023, mainly due to the XIIDRA acquisition and MIEBO launch [228]. Challenges and Risks - The ongoing Russia-Ukraine war has impacted the company's distribution capabilities, but necessary licenses have been obtained to sell products in those regions [175]. - Revenues attributable to Russia, Ukraine, and Belarus accounted for approximately 3% of total revenues for both the six months ended June 30, 2024, and the year ended December 31, 2023 [177]. - Revenues attributable to Israel and Iran were less than 1% of total revenues for the six months ended June 30, 2024, and the year ended December 31, 2023 [178]. - The company has implemented actions to mitigate supply chain challenges, resulting in higher inventory costs that have pressured margins, particularly in the surgical business [179]. - The company is facing challenges related to its initial public offering and the complexities of managing an independent business [285]. - The company is navigating challenges related to international operations, including compliance with varying regulatory regimes and geopolitical risks [290]. - The company faces challenges in obtaining components and raw materials, which may lead to manufacturing and supply difficulties [292]. - Economic factors such as historically high domestic and global inflation, interest rates, and foreign currency rates could impact revenues and margins [292]. - The company is exposed to interest rate risks associated with floating rate debt borrowings [292]. - There are uncertainties regarding the successful improvement and modification of existing products and the development of new products, which may require significant expenditures [292]. - The company is subject to compliance risks related to extensive regulations in marketing and business practices, including health care fraud laws and anti-bribery laws [293]. - Potential impacts from health care reforms and changes in legislation could affect the company's operations and pricing strategies [294]. - The company has identified risks related to illegal distribution or sale of counterfeit products, which could harm its market position [294]. - The company cautions that the list of factors affecting future results is not exhaustive and should be carefully considered by investors [295]. Debt and Interest Management - Interest expense rose to $102 million in Q2 2024, an increase of $44 million from $58 million in Q2 2023, mainly due to new debt instruments [217]. - Net loss attributable to Bausch + Lomb Corporation was $151 million in Q2 2024, a significant increase from a loss of $32 million in Q2 2023, driven by higher taxes and interest expenses [220]. - SG&A expenses increased by $204 million, or 24%, to $1,039 million for the six months ended June 30, 2024, primarily due to higher selling and advertising costs [233]. - R&D expenses rose by $4 million, or 2%, to $166 million for the same period, driven by ongoing product development [233]. - Amortization of intangible assets increased by $35 million, or 31%, to $148 million, mainly due to acquisitions [234]. - Operating income decreased by $9 million, or 22%, to $32 million, reflecting higher SG&A and amortization expenses [236]. - Interest expense surged by $93 million to $201 million, attributed to various debt facilities [241]. - Provision for income taxes increased by $102 million to $145 million, influenced by changes in earnings jurisdiction and discrete tax effects [243]. - Net cash provided by operating activities was $56 million, an increase of $136 million compared to a net cash used of $80 million in the prior year [246]. - As of June 30, 2024, the interest rate for borrowings under the Revolving Credit Facility ranges from 8.18% to 8.19% per annum [259]. - The stated interest rate under the May 2027 Term Facility at June 30, 2024 was 8.69% per annum [261]. - The stated interest rate under the September 2028 Term Facility at June 30, 2024 was 9.34% per annum [262]. - Bausch + Lomb issued $1,400 million aggregate principal amount of 8.375% Senior Secured Notes due October 2028 [265]. - The Company expects to make interest payments of approximately $200 million and mandatory debt amortization payments of $15 million for the period July 1, 2024 through December 31, 2024 [273]. - The remaining mandatory quarterly amortization payments for the May 2027 Term Facility were $69 million through March 2027 [264]. - The remaining mandatory quarterly amortization payments for the September 2028 Term Facility were $20 million through June 2028 [264]. - As of July 24, 2024, Bausch + Lomb had 351,895,407 issued and outstanding common shares [280]. - The weighted average stated rate of interest for the Company's outstanding debt obligations as of June 30, 2024 was 8.63% [269]. - Bausch + Lomb acquired AcuFocus, Inc. for an up-front purchase price of $35 million, with $31 million paid in January 2023 [274]. - The company anticipates continued improvement in operational efficiency and plans to manage cash and working capital requirements for the remainder of 2024 and beyond [285].

BAUSCH#LOMB 2Q24 Financial Results Forward-Looking Statements; Non-GAAP Information 1 This presentation contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements regarding future prospects and performance of Bausch + Lomb Corporation ("Bausch + Lomb", the "Company", "we", "us", or "B+L") (including the Company's 2024 full-year guidance), our anticipated roadmap to accelerate gr ...

Bausch + Lomb Corporation (NYSE:BLCO) Q2 2024 Earnings Call July 31, 2024 8:00 AM ET Company Participants George Gadkowski - Vice President, Investor Relations Brent Saunders - Chairman and Chief Executive Officer Sam Eldessouky - Chief Financial Officer Conference Call Participants Xuyang Li - Jefferies Patrick Wood - Morgan Stanley Craig Bijou - Bank of America Robbie Marcus - JPMorgan Douglas Miehm - RBC Capital Markets Matt Miksic - Barclays Operator Good morning, and welcome to Bausch + Lomb’s Second Q ...

While Bausch + Lomb has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? This company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of -27.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. A quarter ago, it was expected that this company would post earnings of $0.09 per share when it actually produced earnings of $0.07, ...

Financial Performance - Total revenue for Q2 2024 was $1.216 billion, a 17% increase from $1.035 billion in Q2 2023, with a 20% increase on a constant currency basis[4] - Adjusted EBITDA (non-GAAP) for Q2 2024 was $209 million, up from $179 million in Q2 2023, reflecting a $30 million increase primarily due to higher sales[20] - The company raised its full-year 2024 revenue guidance to $4.700 - $4.800 billion, expecting approximately 16% - 18% constant currency growth[21] - Cash flow from operations improved to $15 million in Q2 2024, compared to a cash outflow of $24 million in Q2 2023, an increase of $39 million[19] - Adjusted net income (non-GAAP) for Q2 2024 was $45 million, down from $65 million in Q2 2023, a decrease of $20 million[18] - Adjusted EPS (non-GAAP) for Q2 2024 was $0.13, down from $0.18 in Q2 2023, representing a decline of 27.78%[45] - Operating income for Q2 2024 was $26 million, down from $43 million in Q2 2023, indicating a decrease of 39.53%[44] - The company reported a net loss of $151 million for Q2 2024, compared to a net loss of $32 million in Q2 2023, reflecting a significant increase in losses[44] Segment Performance - The Pharmaceuticals segment saw a revenue increase of 60%, reaching $310 million compared to $194 million in Q2 2023, driven by the XIIDRA® acquisition and strong launch of MIEBO®[11] - Vision Care segment revenue increased by 8% to $697 million, driven by sales from the dry eye portfolio and daily SiHy lenses[9] - Surgical segment revenue grew by 7% to $209 million, primarily due to increased demand for equipment and consumables[10] Costs and Expenses - The cost of goods sold for Q2 2024 was $482 million, an increase of 15.59% from $417 million in Q2 2023[44] - Research and development expenses for Q2 2024 were $84 million, slightly down from $85 million in Q2 2023[44] - Selling, general and administrative expenses for the three months ended June 30, 2024, were $535 million, up from $417 million in the same period of 2023, representing a 28.3% increase[50] - Interest expense for Q2 2024 was $102 million, significantly higher than $58 million in Q2 2023, reflecting increased borrowing costs[44] Non-GAAP Measures - Adjusted EBITDA (non-GAAP) is used to assess financial performance, focusing on underlying operational results and business performance[33] - The company excludes certain costs from non-GAAP measures, including asset impairments and restructuring costs, to provide a clearer view of operational sustainability[35] - Adjusted net income (non-GAAP) excludes amortization of intangible assets and acquisition-related costs to reflect more accurately the company's financial performance[36] - The company emphasizes the importance of non-GAAP measures for investors, as they provide insights into operating performance and valuation[29] Future Outlook and Risks - Future economic conditions, including inflation and interest rates, are expected to impact revenue, expenses, and margins[25] - Risks associated with the proposed spinoff from Bausch Health Companies Inc. include potential delays and the need for shareholder approvals, which could impact the transaction's completion[25] - The acquisition of XIIDRA® and other ophthalmology assets may not yield expected benefits in a timely manner, and could increase debt levels due to financing[25] - The company expects continued revenue growth driven by new product launches and market expansion strategies[53] - The company is preparing for post-separation operations with transformation initiatives that may lead to restructuring actions and associated costs[35]

Zacks Consensus Estimate The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 31. On the other hand, if they miss, the stock may move lower. This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -27.8%. Estimate Revisions Trend Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revision ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Bausch + Lomb Corporation (Exact name of registrant as specified in its charter) 520 Applewood Crescent, Vaughan, Ontario, Canada L4K 4B4 (Address of Principal Ex ...