Bausch + Lomb (NYSE:BLCO) Issues Earnings Results

Key Points

• Quarterly results were mixed: Bausch + Lomb reported EPS of $0.15, slightly below the $0.16 consensus, while revenue rose 9.1% year over year to $981.15 million.
• Management raised full-year guidance: Revenue is now expected at $5.440-$5.540 billion and adjusted EBITDA at $1.025-$1.075 billion, supported by broad-based growth and improved margins.
• Surgical and pharmaceutical businesses drove momentum: Surgical revenue grew 16%, led by implantables and premium IOLs, while pharmaceutical revenue increased 14%, including strong growth from MIEBO.

Bausch + Lomb (NYSE:BLCO - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01), FiscalAI reports. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 4.21%.The company had revenue of $981.15 million for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned ($0.18) earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year.

Here are the key takeaways from Bausch + Lomb's conference call:

• Strong Q2 execution: Revenue rose 8% on a constant-currency basis to $1.394 billion, while adjusted EBITDA increased 28% to $246 million and margin expanded to 17.6%. Adjusted operating cash flow reached $161 million, supporting a one-turn reduction in leverage since Investor Day to approximately 4.7x.
• Full-year guidance was raised: Revenue guidance increased by $20 million to $5.440-$5.540 billion, and adjusted EBITDA guidance rose by $15 million to $1.025-$1.075 billion. Management now expects approximately 5.8%-7.7% constant-currency revenue growth and an adjusted EBITDA margin of about 19.1% at the midpoint.
• Surgical momentum accelerated: Surgical revenue grew 16% year over year and 17% versus the pre-recall second quarter of 2024, led by 64% growth in implantables and 175% growth in premium IOLs. Premium products represented 13% of surgical revenue in Q2, up from 9% in 2025, improving mix and margins.
• Pharmaceutical growth remained a key driver: Pharma revenue increased 14%, with MIEBO revenue up 44% to $91 million and XIIDRA up 6% to $87 million. Management cited rising MIEBO prescriptions and Medicare coverage increasing to 88% as sources of continued opportunity in dry eye.
• Pipeline activity is advancing, but remains execution-dependent: The company submitted ELIOS, its implant-free MIGS laser, to the FDA and expects second-half readouts for its dual-action dry-eye and ocular-surface-pain candidates. EnVista Beyond remains on track for submission by year-end and potential approval by the end of 2027, subject to ongoing data review and regulatory processes.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO traded up $0.20 on Wednesday, reaching $16.81. 212,048 shares of the company's stock were exchanged, compared to its average volume of 430,833. Bausch + Lomb has a twelve month low of $13.09 and a twelve month high of $18.92. The company has a fifty day moving average of $15.90 and a 200-day moving average of $16.43. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -27.11, a PEG ratio of 0.50 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.

Bausch + Lomb News Roundup

Here are the key news stories impacting Bausch + Lomb this week:

• Positive Sentiment: Broad-based growth and raised guidance: Bausch + Lomb reported broad-based second-quarter growth and raised its fiscal 2026 outlook. The company now expects full-year revenue of approximately $5.44 billion to $5.54 billion, compared with a FactSet consensus estimate of $5.47 billion. Bausch + Lomb Delivers Broad-Based Second-Quarter Growth, Raises Full-Year 2026 Guidance
• Positive Sentiment: Earnings improved year over year: Quarterly adjusted earnings were reported at $0.16 per share, matching the Zacks consensus estimate and rising from $0.07 a year earlier. The earnings improvement supports the company’s profitability recovery narrative. Bausch + Lomb Q2 Earnings Meet Estimates
• Positive Sentiment: UBS upgrade: UBS upgraded BLCO to “strong-buy” and assigned a $21 price target, implying substantial upside from the reported trading level. The endorsement may increase investor confidence in the company’s growth and execution prospects. UBS Upgrade Report
• Neutral Sentiment: Mixed earnings-data reports: One report listed EPS at $0.15, slightly below consensus, while another reported $0.16 in line with estimates. Reported revenue figures also appear inconsistent, so investors may focus on the company’s official release and conference call for clarification. Bausch + Lomb Earnings Report and Conference Call

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. acquired a new position in Bausch + Lomb in the 4th quarter valued at $178,000. Twinbeech Capital LP bought a new position in shares of Bausch + Lomb in the fourth quarter worth $280,000. Oaktree Capital Management LP raised its stake in Bausch + Lomb by 4.2% in the fourth quarter. Oaktree Capital Management LP now owns 3,382,739 shares of the company's stock valued at $57,777,000 after purchasing an additional 137,300 shares in the last quarter. Millennium Management LLC bought a new stake in Bausch + Lomb during the fourth quarter worth about $1,367,000. Finally, Balyasny Asset Management L.P. bought a new stake in Bausch + Lomb during the fourth quarter worth about $1,589,000. Institutional investors own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

BLCO has been the subject of a number of research reports. UBS Group began coverage on shares of Bausch + Lomb in a research note on Tuesday. They set a "buy" rating and a $21.00 target price for the company. Evercore set a $17.00 price target on shares of Bausch + Lomb in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a research report on Thursday, April 30th. Citigroup upped their target price on Bausch + Lomb from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Bausch + Lomb from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.23.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.

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