Bausch + Lomb Announces Third-Quarter 2024 Results

In This Article:

  • Revenue of $1.196 Billion

  • GAAP Net Income Attributable to Bausch + Lomb Corporation of $4 Million

  • Adjusted EBITDA (non-GAAP)1 of $212 Million; Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)1 of $227 Million

  • Revenue Grew 19% as Reported and 19% on a Constant Currency1 Basis Compared to the Third Quarter of 2023, Driven by Solid Execution and Growth Across All Segments

  • Raising Full-Year 2024 Revenue Guidance

VAUGHAN, Ontario, October 30, 2024--(BUSINESS WIRE)--Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced its third-quarter 2024 financial results.

"Our focus on execution continues to drive growth, with significant opportunity ahead," said Brent Saunders, chairman and CEO, Bausch + Lomb. "We’re in the middle of multi-dimensional launch cycles around the world, covering all our businesses and targeting all our audiences."

Select Third-Quarter Company Highlights

  • Execution story continues with broad-based growth across all segments and geographies

  • Strengthened leadership in dry eye with solid performance from MIEBO®, XIIDRA® and OTC dry eye portfolio

  • Expanded high-margin premium IOL portfolio with launch of enVista® Envy™ in Canada and U.S. Food and Drug Administration approval

Third-Quarter 2024 Revenue Performance
Total reported revenue was $1.196 billion for the third quarter of 2024, as compared to $1.007 billion in the third quarter of 2023, an increase of $189 million, or 19%. Excluding the unfavorable impact of foreign exchange of $5 million, revenue increased by approximately 19% on a constant currency1 basis compared to the third quarter of 2023.

Revenue by segment was as follows:

Third-Quarter 2024

(in millions)

 

Three Months Ended

September 30

 

Reported

Change

 

Reported

Change

 

Change at

Constant Currency1

(non-GAAP)

 

2024

2023

 

Total Bausch + Lomb Revenue

 

$1,196

 

$1,007

 

$189

 

19%

 

19%

 

 

 

 

 

 

 

 

 

 

 

 

 

Vision Care

 

$684

 

$648

 

$36

 

6%

 

6%

 

Surgical

 

$206

 

$185

 

$21

 

11%

 

12%

 

Pharmaceuticals

 

$306

 

$174

 

$132

 

76%

 

76%

 

Vision Care Segment
Vision Care segment revenue was $684 million for the third quarter of 2024, as compared to $648 million for the third quarter of 2023, an increase of $36 million, or 6%. Excluding the unfavorable impact of foreign exchange of $4 million, segment revenue increased on a constant currency1 basis by approximately 6% compared to the third quarter of 2023, primarily due to sales from the dry eye portfolio within the consumer business and SiHy Daily lenses within the contact lens business.

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