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Bausch Health Companies Inc (NYSE:BHC) reported Q1 FY23 revenues of $1.94 billion, up 1% Y/Y, up 4% organic basis, missing the consensus estimate of $1.97 billion.
Revenues for Bausch Health (excl. B+L) was $1.01 billion, down 2%.
Bausch + Lomb segment reported revenues were $931 million, +5%.
Salix segment revenues were $496 million for Q1, compared with $464 million a year ago. Xifaxan, Relistor, and Trulance drove sales growth.
The company reported an EPS loss of $(0.55), compared with $(0.19) a year ago. Adjusted net income attributable to Bausch Health was $191 million, compared with $263 million a year ago, primarily due to higher operating expenses and foreign exchange headwinds.
Adjusted EPS came in at $0.52, missing the consensus of $0.72.
Adjusted EBITDA fell to $588 million from $732 million.
Guidance: The company confirmed its FY23 guidance for Bausch Health (excl. B+L) and is providing full-year consolidated sales guidance of $8.35 - $8.55 billion, compared to the consensus of $8.35 billion.
It forecasts FY23 adjusted EBITDA of $3.00 - $3.15 billion.
Price Action: BHC shares are down 18.6% at $6.02 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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