Loading...
Loading...
- Bausch Health Companies Inc BHC reported a deeper first-quarter loss of $610 million compared with a loss of US$152 million a year earlier, impacted by a $469 million goodwill impairment charge in its Ortho Dermatologics business and a $71-million impairment charge related to a product line in Ortho Dermatologics.
- On an adjusted basis, Bausch Health earned $370 million for the quarter, up from an adjusted profit of $316 million a year ago.
- Q1 revenue of $2.03 billion slightly missed the consensus of $2.06 billion and remained unchanged from sales in Q1 2020. Revenue was negatively impacted by approximately $100 million in the first quarter of 2021 due to the COVID-19 pandemic.
- Excluding the $33 million favorable impact of foreign exchange and the $10 million impact of divestitures and discontinuations, revenue fell $8 million compared with a year ago.
- BHC generated $443 million of cash from operations compared to $261 million a year ago.
- Adjusted EBITDA increased around 5% to $852 million primarily due to profit protection measures taken to manage and reduce operating expenses and preserve cash during the COVID-19 pandemic.
- Guidance: Bausch Health reiterated guidance for FY21 with a revenue range of $8.60 – $8.80 billion and adjusted EBITDA of $3.40 – $3.55 billion.
- Based on an earlier report, Bausch is exploring potential divestiture of Eyecare units.
- Price Action: BHC shares are down 2.9% at $30.51 in the premarket trading on the last check Tuesday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in