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    Eye Care Leader Bausch + Lomb Experiences Stock Surge


Bausch + Lomb Reports Strong Fourth Quarter Results

Bausch + Lomb Corp BLCO reported the fourth quarter of 2023 sales of $1.173 billion, marking an 18% year-on-year (Y/Y) increase, surpassing the consensus of $1.02 billion.

Excluding the unfavorable impact of foreign exchange totaling $9 million, revenue increased by approximately 19% on a constant currency basis, propelled by growth across all segments.

Strong Revenue Growth Amidst Wider Losses

The company reported adjusted EPS of $0.24. Net loss attributable to Bausch + Lomb reached $54 million, surging from a loss of $1 million a year ago.

Despite the spike in losses, Bausch + Lomb witnessed adjusted EBITDA of $231 million, surpassing the $181 million recorded a year ago.

Striking Growth Across Various Segments

Vision Care segment revenue observed a 6% upsurge, reaching $662 million for the fourth quarter of 2023. Additionally, Surgical segment revenue marked a 9% year-on-year increase, amounting to $204 million. Furthermore, Pharmaceuticals segment revenue scaled remarkable heights, recording a 67% growth compared to the previous year, reaching $307 million.

Positive 2024 Guidance Sets the Tone

“Revenue growth in 2023, and the fourth quarter in particular, exceeded our expectations and set the tone for 2024,” said Brent Saunders, chairman and CEO of Bausch + Lomb.

Guidance: Bausch + Lomb forecasts fiscal year 2024 sales of $4.6 billion-$4.7 billion versus the consensus of $4.56 billion, with constant currency growth projected to be around 12%-14%. The company also expects adjusted EBITDA of $840 million-$890 million for 2024, surpassing the fiscal year 2023 adjusted EBITDA of $738 million.

Stock Responds Positively to Annual Guidance

Price Action: BLCO shares are up 10.70% at $16.15 on the last check Wednesday.

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