Q3 2024 Alcon AG Earnings Call Transcript
Key Points
- Alcon Inc (ALC) reported a solid quarter with sales of $2.4 billion, reflecting a 6% growth.
- Core diluted earnings per share increased by 25% to $0.81, with a core operating margin of 20.6%.
- The company generated a record $1.3 billion in free cash flow in the first nine months of the year.
- Alcon Inc (ALC) is preparing for a series of product launches, including Precision7 contact lenses and Systane Pro Preservative Free eye drops, which are expected to drive future growth.
- The international uptake of advanced technology intraocular lenses (AT-IOLs) is strong, with high single-digit or double-digit growth in most regions.
- Alcon Inc (ALC) experienced slower market conditions in the United States, impacting implantable sales.
- The company had to adjust its full-year revenue guidance due to softness in the US surgical market.
- There is competitive pressure in the US market, with new products from competitors affecting sales.
- The company faces challenges in maintaining its market share in the US IOL market due to competitive sampling.
- Alcon Inc (ALC) expects normal seasonal pressure on gross margins in the fourth quarter due to annual preventative maintenance at its plants.
Greetings, and welcome to the Alcon third-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Dan Cravens, Vice President, Investor Relations. Thank you, sir. You may begin.
Welcome to Alcon's third-quarter 2024 earnings conference call. Yesterday, Alcon was alerted that our third quarter earnings press release and interim financial report were inadvertently posted early to our investor website. We immediately accelerated our disclosure process. The NYSE briefly halted trading pending the issuance of the release. Trading was resumed on the NYSE shortly after the release crossed the newswire.
In addition, earlier today, we also posted a supplemental slide presentation on our website to enhance today's call. You can find all of these documents in the Investor Relations section of our website at alcon.com. Joining me on today's call are David Endicott, our Chief Executive Officer; and Tim
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