Earnings Preview: What To Expect To When Eye Health Company Bausch + Lomb Reports Q4 Performance Later This Month
Portfolio Pulse from Vandana Singh
Bausch + Lomb Corp (BLCO) is set to report its Q4 and full-year 2023 financial results on February 21, 2024, with expected sales of $1.107 billion and EPS of $0.17. RBC Capital predicts Q4 revenue of $1.159 billion and adjusted EBITDA of $224 million, slightly below consensus. The company anticipates improved EBITDA margins in 2024, following the Xiidra acquisition. RBC forecasts FY 2024 sales of $4.72 billion, a 14% increase year-over-year. Alcon Inc (ALC) announced Phase 3 data for its dry-eye product, planning a New Drug Application in mid-2024, highlighting a competitive market for dry-eye products in 2025. RBC lowered BLCO's price target from $20 to $19 but maintained an Outperform rating.
February 09, 2024 | 7:24 pm
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NEUTRAL IMPACT
Alcon Inc announced Phase 3 data for its dry-eye product, planning a New Drug Application in mid-2024. This indicates a competitive market for prescription dry-eye products in 2025.
While the announcement of Phase 3 data is positive, the impact on Alcon's stock price in the short term is uncertain due to the competitive nature of the market and the timeline for the New Drug Application.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bausch + Lomb is expected to report Q4 sales of $1.107 billion and EPS of $0.17, with RBC Capital forecasting slightly higher revenue. The company anticipates improved EBITDA margins in 2024, following the Xiidra acquisition.
The positive outlook on revenue and EBITDA margins, along with RBC Capital's forecast exceeding consensus, suggests a potential short-term positive impact on BLCO's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100