Categories Earnings, Other Industries

Despite a drop, Bausch Health Q2 revenues beat estimates

Bausch Health Companies (BHC) reported a 5% decline in revenues to $2.12 billion for the second quarter of 2018 compared to the same period last year. Organic revenue grew 3%. The company managed to beat analyst expectations on revenue numbers. Shares rose over 2% premarket.

Net loss for the quarter was $873 million or $2.49 per share compared to $38 million or $0.11 per share in the prior-year period, impacted by a bigger operating loss and a higher provision for income taxes. Adjusted net income was $327 million.

Bausch Health second quarter 2018 earnings
Bausch Health Q2 2018 Earnings Infographic

Bausch maintained its revenue guidance for full-year 2018 while raising the outlook for adjusted EBITDA. The company expects revenues to be $8.15 billion to $8.35 billion. Adjusted EBITDA is now expected to come in at $3.20 billion to $3.35 billion in 2018 versus the prior range of $3.15 billion to $3.30 billion.

During the quarter, the company completed its name change to Bausch Health Companies Inc. and realigned into four reporting segments – Bausch + Lomb/International, Salix, Ortho Dermatologics and Diversified Products.

Bausch Health saw revenue declines across all its segments expect Salix. Revenues in Salix grew 14% mainly driven by higher sales of XIFAXAN, RELISTOR and other promoted products across the segment. XIFAXAN revenue grew 26% while RELISTOR franchise revenue rose 43% during the quarter. Revenue in the Global Solta business improved by 14% during Q2 2018.

The FDA accepted the New Drug Application for loteprednol etabonate ophthalmic gel with a PDUFA action date of February 25, 2019.

Related: Earnings Preview: Bausch Health looks for cure in Q3

Related: Q1 Earnings Infographic

Valeant first quarter 2018 earnings

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top