Bausch Health Companies Inc (NYSE: BHC) reported Q1 FY23 revenues of $1.94 billion, up 1% Y/Y, up 4% organic basis, missing the consensus estimate of $1.97 billion.
Revenues for Bausch Health (excl. B+L) was $1.01 billion, down 2%.
Bausch + Lomb segment reported revenues were $931 million, +5%.
Salix segment revenues were $496 million for Q1, compared with $464 million a year ago. Xifaxan, Relistor, and Trulance drove sales growth.
The company reported an EPS loss of $(0.55), compared with $(0.19) a year ago. Adjusted net income attributable to Bausch Health was $191 million, compared with $263 million a year ago, primarily due to higher operating expenses and foreign exchange headwinds.
View more earnings on BHC
Adjusted EPS came in at $0.52, missing the consensus of $0.72.
Adjusted EBITDA fell to $588 million from $732 million.
Guidance: The company confirmed its FY23 guidance for Bausch Health (excl. B+L) and is providing full-year consolidated sales guidance of $8.35 – $8.55 billion, compared to the consensus of $8.35 billion.
It forecasts FY23 adjusted EBITDA of $3.00 – $3.15 billion.
Price Action: BHC shares are down 18.6% at $6.02 on the last check Thursday.
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Source: https://finance.yahoo.com/news/why-bausch-health-stock-tumbling-192441936.html