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.
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.”
The market mayhem could not have come at a worse time for Bed Bath & Beyond Inc. (NASDAQ: BBBY). For long, the home furnishing retailer has been struggling, with a
Walgreens Boots Alliance (NASDAQ: WBA) reported third quarter 2020 earnings results today. Sales increased 0.1% year-over-year to $34.6 billion. Sales growth was 1.2% on a constant currency basis, led by
Amid the COVID-19 pandemic, several retailers were forced to close their stores but in turn witnessed a pickup in their digital business. Levi Strauss & Co. (NYSE: LEVI) is the