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Mar 31, 2024
Bausch + Lomb Q1 2024 Earnings Report
Reported revenue of $1.099 billion, a GAAP net loss of $167 million, and an adjusted EBITDA of $180 million.
Key Takeaways
Bausch + Lomb reported strong first-quarter 2024 results, with revenue reaching $1.099 billion, an 18% increase as reported and a 20% increase on a constant currency basis compared to the first quarter of 2023. This growth was driven by outperformance across all business segments and geographies. The company is raising its full-year 2024 constant currency revenue growth guidance.
Revenue of $1.099 Billion
GAAP Net Loss Attributable to Bausch + Lomb Corporation of $167 Million
Adjusted EBITDA (non-GAAP) of $180 Million
Revenue Grew 18% as Reported and 20% on a Constant Currency Basis Compared to the First Quarter of 2023, Driven by Growth Across All Business Segments
Revenue by Segment
Forward Guidance
Bausch + Lomb is raising full-year 2024 constant currency revenue growth guidance from 12-14% to 13-15%. Full-year revenue is expected to be in the range of $4.600 – $4.700 billion. Full-year Adjusted EBITDA (non-GAAP) is expected to be in the range of $840 – $890 million. Foreign exchange revenue headwinds are now expected to be approximately $90 million for the full-year.
Positive Outlook
- Raising full-year 2024 constant currency revenue growth guidance from 12-14% to 13-15%
- Full-year revenue range of $4.600 – $4.700 billion
- Full-year Adjusted EBITDA (non-GAAP) range of $840 – $890 million
Challenges Ahead
- Foreign exchange revenue headwinds now expected to be approximately $90 million for the full-year, previously approximately $40 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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