Bausch Health stock rises on guidance hike

Bausch Health Companies Inc. (NYSE: BHC) said its revenues for the second quarter edged up 1% to $2.15 billion, in line with the average analysts’ estimate. Revenues at its biggest Bausch + Lomb/International segment was flat year-over-year.  

GAAP net loss narrowed to 49 cents per share, compared to $2.49 per share in the same period last year, driven by lower interest expense and lower loss on extinguishment of debt. On an adjusted basis, net income missed street view by a cent.

BHC stock gained 2.9% following the earnings announcement. BHC shares have been trading sidewise in the trailing 12 months, and is currently up 3%.

The Canadian pharma giant also raised its revenue and its adjusted EBITDA guidance range for the full-year. It currently expects full-year revenues of $8.40 billion – $8.60 billion, compared to the earlier estimate of $8.35 billion – $8.55 billion.

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Outlook on adjusted EBITDA was raised to $3.425 billion – $3.575 billion, from the prior estimate of $3.40 billion – $3.55 billion.

CEO Joseph C. Papa said, “Looking to the second half of 2019, we expect a number of catalysts to drive growth across our core business segments as we continue to reduce debt, increase R&D and further grow our newly launched products.”   

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