Bausch + Lomb Corp (BLCO) experienced a significant surge in its stock value, rising by 15.8%, despite facing deeper losses, as it provided optimistic annual guidance for the upcoming year.<\/p>\n\n\n\n
In the fourth quarter of 2023, Bausch + Lomb reported sales totaling $1.173 billion, marking an 18% increase compared to the previous year and surpassing the anticipated $1.02 billion consensus.<\/p>\n\n\n\n
Excluding the negative impact of foreign exchange amounting to $9 million, the company witnessed a nearly 19% rise in revenue on a constant currency basis, propelled by growth across all its segments.<\/p>\n\n\n\n
The company disclosed an adjusted EPS of $0.24, while the net loss attributed to Bausch + Lomb escalated to $54 million from $1 million in the preceding year.<\/p>\n\n\n\n
Adjusted EBITDA climbed to $231 million, a notable increase from $181 million recorded a year earlier.<\/p>\n\n\n\n
Within its Vision Care segment, fourth-quarter revenue reached $662 million, indicating a 6% rise year-on-year and an 8% increase on a constant currency basis. This growth was chiefly driven by heightened sales of various products including Lumify, Eye Vitamins, and SiHy Daily lenses.<\/p>\n\n\n\n
Surgical segment revenue stood at $204 million, marking a 9% increase year-on-year and a 7% rise on a constant currency basis, primarily due to elevated sales of consumables and premium intraocular lenses.<\/p>\n\n\n\n
The Pharmaceuticals segment reported revenue of $307 million, representing a substantial 67% increase year-on-year and approximately 66% on a constant currency basis, driven by the acquisition of Xiidra and heightened sales of Vyzulta.<\/p>\n\n\n\n
Chairman and CEO of Bausch + Lomb, Brent Saunders, expressed confidence in the company’s performance, stating that the revenue growth in 2023 surpassed expectations, setting a positive trajectory for 2024.<\/p>\n\n\n\n
Looking ahead, Bausch + Lomb forecasts sales for fiscal year 2024 to range between $4.6 billion and $4.7 billion, with a constant currency growth projection of approximately 12%-14%. Additionally, the company anticipates adjusted EBITDA for 2024 to reach $840 million-$890 million, surpassing the previous fiscal year’s figure of $738 million.<\/p>\n\n\n\n
Despite the losses incurred, BLCO shares exhibited a robust performance, rising by 10.70% to $16.15 on the last check Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bausch + Lomb Corp (BLCO) experienced a significant surge in its stock value, rising by 15.8%, despite facing deeper losses, as it provided optimistic annual guidance for the upcoming year. In the fourth quarter of 2023, Bausch + Lomb reported sales totaling $1.173 billion, marking an 18% increase compared to the previous year and surpassing […]<\/p>\n","protected":false},"author":1,"featured_media":1139,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"single-left","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[308,360],"tags":[],"coauthors":[453],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1300"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=1300"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1300\/revisions"}],"predecessor-version":[{"id":1301,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1300\/revisions\/1301"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1139"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=1300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=1300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=1300"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=1300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}