BLCO
Bausch + Lomb Corporation16.98
-0.11-0.64%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Confident on comps, Xiidra pricing boost
Q&A reinforced the execution theme from prepared remarks, with management confidently addressing competition across pharma, contacts, and surgical—claiming outperformance via Miebo/Xiidra dominance, Daily SiHy momentum, and enVista recovery despite IOL entrants. Xiidra eyes mid-single-digit 2026 revenue growth from improved net pricing (low-70s gross-to-net) offsetting slower scripts post-CVS shift. Contact lens material study delivered clean safety data and 98.5% clear vision in 130 patients, lifting 2028 launch confidence. enVista fully recovered ahead of plan, save monofocal contract hangovers. EBITDA margin hits 19% via 100bps gross/SG&A gains offsetting R&D uptick. Competition poses no threat. Watch Xiidra traction, margin pull-through.
Key Stats
Market Cap
6.01BP/E (TTM)
-Basic EPS (TTM)
-0.86Dividend Yield
0%Recent Filings
10-K
FY2025 results
Bausch + Lomb posted FY2025 revenues of $5.1B, up 6% reported (5% constant currency), fueled by 7% Vision Care growth from Lumify and SiHy dailies while Pharma and Surgical each rose 6% on MIEBO momentum and premium IOLs. Q4 accelerated topline momentum across segments yet margins compressed from enVista IOL recall costs and tariffs, dragging Surgical profit 59%. Contribution climbed $129M on volume gains, but debt servicing hit $421M amid June refinancing. BHC retains 88% ownership; liquidity solid with $664M revolver capacity. enVista sales rebounded to pre-recall levels by Q4. Tariffs threaten quarterly supply costs.
8-K
Q4 revenue surges 10%
Bausch + Lomb posted Q4 revenue of $1.405B, up 10% reported (7% constant currency) from 2024, with Adjusted EBITDA of $326M showing strong margin expansion and operating leverage. Full-year revenue hit $5.101B, up 6%, driven by Pharmaceuticals (MIEBO $112M Q4) and Vision Care growth, yet GAAP net loss widened to $360M amid higher taxes and refinancing fees. Momentum builds. Guides 2026 revenue $5.375B-$5.475B, Adjusted EBITDA ex-IPR&D $1.000B-$1.050B.
8-K
BLCO refinances $2.8B term loans
8-K
Two new board appointments
Bausch + Lomb appointed Eduardo C. Alfonso, MD, renowned ophthalmologist and Bascom Palmer Eye Institute director, and Steven H. Collis, ex-CEO of Cencora who tripled revenue, to its board effective January 1, 2026, replacing Brett Icahn and Gary Hu who departed in August 2025. Both are independent directors under NYSE/TSX rules. New blood sharpens strategy focus. They join standard compensation and indemnification terms.
8-K
Refinances $2.8B term loans
Bausch + Lomb allocated $2,802,125,000 in Replacement Term Loans on December 12, 2025, to refinance its term B loans due 2031 and 2028, slashing margins by 0.50% and 0.25% respectively while extending the latter to January 15, 2031. Rates will hit 3.75% over term SOFR or 2.75% over base. Closure awaits Q1 2026. No completion guarantees.
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