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Bausch Health Lifts Outlook After 2Q Revenue Rises 13%

Dow Jones
Jul 30

Bausch Health raised its outlook for the year after second-quarter revenue rose at the highest rate in three years.

The Canadian pharmaceutical company on Wednesday posted a profit of $258 million, or 68 cents a share, compared with $148 million, or 40 cents a share, in the same quarter a year ago.

Adjusted earnings were $1.26 a share, topping the 99 cents a share expected by analysts polled by FactSet.

Revenue rose about 13% to $2.85 billion, ahead of the $2.61 billion expected by analysts. Chief Executive Thomas Appio said that marks the highest revenue growth rate in the past three years.

The growth was led by its Solta Medical segment, with revenue up 38%, while its Salix segment, which includes gastroenterology products, rose 21%. International sales rose 10%.

Bausch Health now expects total revenue between $10.79 billion and $11.04 billion, up from its prior view for $10.67 to $10.92 billion. It also raised its outlook for adjusted earnings before interest, taxes, depreciation and amortization to between $4.05 billion and $4.18 billion from its prior view for $3.89 billion and $4.01 billion.

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