Alcon AG ALC reported Q4 FY21 sales of $2.13 billion, +11% Y/Y on a reported basis and +13% on a constant currency (cc) basis, beating the consensus of $2.04 billion.
- Eye care markets in the fourth quarter reflected the recovery in the U.S. and the continuing recovery internationally from the COVID-19 pandemic.
- It reported a core EPS of $0.56, surpassing the Wall Street estimate of $0.49, and higher than $0.41 a year ago.
- Related: Alcon Strengthens Surgical Glaucoma Portfolio With $475M Ivantis Deal.
- Surgical net sales increased 12% (14% cc) to $1.26 billion. Implantables growth reflected market improvements and ongoing adoption of advanced technology intraocular lenses, led by the launch of Vivity.
- Consumables growth primarily reflected market improvements. Growth in equipment/other was primarily driven by cataract equipment.
- Vision Care's net sales of $0.9 billion increased 10%, or 12% on a constant currency basis. Contact lens sales benefited from growth in silicone hydrogel (SiHy) contact lenses and continuing recovery in international markets.
- Dividend: The company's board proposed a CHF 0.20 per share dividend. The shareholders will vote on this proposal at the 2022 Annual General Meeting on April 27.
- Guidance FY22: Alcon forecasts FY22 sales of $8.7 billion - $8.9 billion, above the consensus of $8.63 billion.
- It expects FY22 core EPS of $2.35 - $2.45, better than the consensus of $2.41.
- Price Action: ALC shares are up 1.60% at $80.09 on the last check Wednesday.
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