Bausch Health Posts Q3 Profit Despite Lower Sales, Trims FY22 Outlook

Bausch Health Companies Inc (NYSE:BHC) reported Q3 revenues of $2.05 billion, down 3% Y/Y, up 2% organic basis, below the consensus estimate of $2.8 billion.
"We are encouraged with the top line improvement in the third quarter, with four out of five segments delivering growth on an organic basis," Thomas Appio, CEO, said.
"The results this quarter demonstrate the resilient demand for our products in the current macro environment.
Adjusted net income declined to $277 million from $417 million a year ago, primarily due to foreign exchange headwinds and higher operating expenses.
Bausch Health reported an EPS of $1.10, up from $0.52 a year ago.
Guidance: For FY22, Bausch Health expects revenue of $8.0-$8.17 billion, down from previous guidance of $8.05 - $8.22 billion and the consensus of $8.34 billion.
The company forecasts adjusted EBITDA of $2.99-$3.09 billion, compared to the previous guidance of $3.23–$3.38 billion.
Price Action: BHC shares are up 1.15% at $6.61 on the last check Thursday.