Monday, May 20, 2024
Bausch Health's Q2 2023 Earnings Call Recap

Bausch Health’s Q2 2023 Earnings Call Recap

Bausch Health Companies Inc. announced their second-quarter 2023 earnings, beating expectations with reported earnings per share (EPS) of $0.82, compared to an expected EPS of $0.75. During the earnings call, CEO Thomas Appio highlighted the company’s strong performance and key strategic objectives. Revenues for Bausch Health, excluding Bausch & Lomb, were $1.13 billion, a 10% increase reported and 11% on an organic basis. The company received a favorable motion ruling in the Xifaxan litigation, strengthening their investment in the Salix growth strategy. They also implemented a balance sheet initiative to enhance liquidity, made progress in their research and development pipeline, and evaluated the optimal implementation of a potential Bausch & Lomb distribution. In terms of business performance, three out of four non Bausch & Lomb segments experienced double-digit revenue growth. Salix saw 11% growth in net sales, driven by increased investments in commercial activities and the launch of an AI customer engagement initiative. The international segment also experienced 11% revenue growth, while Solta Medical saw a 54% increase in revenues. The diversified segment had a modest decline, but showed improvement compared to previous quarters. Dentistry revenues grew by 4%, driven by Arestin. Overall, Bausch Health had a strong quarter and increased their revenue guidance for the year.

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