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Bausch + Lomb raised its full-year outlook Wednesday after third-quarter revenue increased 7% to $1.375 billion and the eye-health company returned to a GAAP profit.
Net income attributable to the company was $32 million, or 9 cents a diluted share, compared with a $28 million loss, or 8 cents a share, a year earlier, according to its earnings release. Operating income rose to $155 million from $95 million.
Higher forecast
The company now expects 2026 revenue of $5.450 billion to $5.550 billion, up from its previous range of $5.440 billion to $5.540 billion. It increased its forecast for adjusted EBITDA excluding acquired in-process research and development to $1.090 billion to $1.140 billion, from $1.025 billion to $1.075 billion. That profit measure is non-GAAP.
Third-quarter adjusted net income was $123 million, or 34 cents a share, compared with $66 million, or 18 cents a share, a year earlier. Adjusted EBITDA was $325 million, up from $243 million. Those figures are non-GAAP and exclude costs included in GAAP results.
Growth across all three businesses
Vision Care revenue increased 5% to $774 million, led by contact lenses and consumer products. Surgical revenue rose 9% to $234 million, helped by premium intraocular lenses. Pharmaceuticals revenue increased 11% to $367 million, with growth in MIEBO and international pharmaceuticals.
MIEBO revenue increased 42% to $119 million, the company said. Revenue growth excluding currency effects was about 8% overall, a non-GAAP comparison.
Operating cash flow rose to $233 million from $137 million. Cash, cash equivalents and restricted cash totaled $515 million at September 30.
The guidance is a forecast, not a guaranteed result. Bausch + Lomb says it cannot reconcile its forward-looking non-GAAP profit guidance to GAAP without unreasonable effort because some required amounts cannot be reliably forecast. Its release includes reconciliations for historical non-GAAP measures.
JBizNews Desk | Vaughan, Ontario
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