Q3 2024 Bausch + Lomb Corp Earnings Call Transcript
Key Points
- Bausch & Lomb Corp (BLCO) reported a strong revenue growth of 19% on a constant currency basis and 10% on an organic basis for the third quarter.
- The company's vision care segment saw a 6% increase in revenue, driven by growth in both consumer and contact lens portfolios.
- The surgical business experienced a 12% constant currency revenue growth, with significant contributions from consumables and premium IOLs.
- BLCO's pharmaceutical segment achieved a 76% constant currency revenue growth, with Miebo and Xiidra playing key roles.
- The company is investing in digital capabilities, such as the Opal e-commerce marketplace, to enhance customer experience and streamline operations.
- Currency fluctuations posed a $5 million headwind to revenue in the third quarter.
- The eye vitamins franchise experienced a 9% decline due to disruptions in the US drugstore channel and retailer inventory rebalancing.
- The Inflation Reduction Act and rebate discussions are anticipated to be headwinds for Xiidra sales in 2025.
- Despite strong revenue growth, adjusted EBITDA guidance has remained steady, indicating that topline strength has not fully translated to the P&L.
- The company is in a significant investment phase, which may impact short-term profitability as it focuses on launching new products.
Good morning and welcome to Bausch and Lomb's third-quarter 2024 earnings call. All participants will be in listen-only mode. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to George Gadkowski, Vice President of Investor Relations and Business Insights. Please go ahead.
Thank you. Good morning, everyone, and welcome to our third-quarter 2024 financial results conference call. Participating on today's call are Chairman and Chief Executive Officer, Mr. Brent Saunders; and Chief Financial Officer, Mr. Sam Eldessouky. In addition to this live webcast, a copy of today's slide presentation and a replay of this conference call will be available on our website under the Investor Relations section.
Before we begin, I would like to remind you that our presentation today contains forward-looking information. We would ask that you take a moment to read the forward-looking legend at the
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