Headline results for the second quarter:
Revenue |
$2.2 billion (matching forecasts) |
+1% |
Loss |
$171 million |
Versus $873 million |
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
"Delivering a second consecutive quarter of reported and organic revenue growth, our second quarter 2019 results demonstrate that Bausch Health is clearly pivoting to growth," commented CEO Joseph Papa. The executive added "Bausch + Lomb/International delivered its eleventh consecutive quarter of organic revenue growth…and Salix reported more than $500 million in total quarterly revenue for the first time."
Meanwhile, the company attributed its smaller net loss to an increase in operating revenue, while expenses fell 20% to $1.9 billion and loss on extinguishment of debt declined.
Other results:
Looking ahead:
Bausch Health now anticipates full-year revenue in the range of $8.40 billion to $8.60 billion, lifted from prior guidance of $8.35 billion to $8.55 billion. The company also expects adjusted earnings of $3.43 billion to $3.58 billion, versus a prior forecast in the range of $3.40 billion to $3.55 billion.
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