ALCON (ALC) Company Report

Analyst Coverage

Research analysts who have asked questions during ALCON earnings calls.

Anthony Petrone

Mizuho Group

4 questions for ALC

Also covers: ADMA, BSX, COO +22 more

David Saxon

Needham & Company

4 questions for ALC

Also covers: ALGN, ATEC, AZTA +11 more

Jack Reynolds-Clark

RBC Capital Markets

4 questions for ALC

Also covers: SNN

Jeffrey Johnson

Robert W. Baird & Co. Inc.

4 questions for ALC

Also covers: ALGN, BBNX, COO +11 more

Ryan Zimmerman

BTIG

4 questions for ALC

Also covers: GEHC, GKOS, GMED +23 more

Brett Fishbin

KeyBanc Capital Markets

3 questions for ALC

Also covers: COO, ICUI, INSP +6 more

David Adlington

JPMorgan Chase & Co.

3 questions for ALC

Also covers: FMS, PHG, SNN

Graham Doyle

UBS Group

3 questions for ALC

Also covers: FMS, PHG, SNN

Issie Kirby

Redburn Atlantic

3 questions for ALC

Also covers: COO, DXCM, PODD +1 more

Larry Biegelsen

Wells Fargo & Company

3 questions for ALC

Also covers: ABT, AXNX, BAX +24 more

Patrick Wood

Morgan Stanley

3 questions for ALC

Also covers: BDX, BLCO, BSX +17 more

Thomas Stephan

Stifel

3 questions for ALC

Also covers: GKOS, RXST, SGHT +1 more

Veronika Dubajova

Citigroup

3 questions for ALC

Also covers: FMS, GNNDY, PHG +1 more

Michael Sarcone

Jefferies

2 questions for ALC

Also covers: AXGN, CTSO, EDAP +11 more

Richard Felton

Goldman Sachs

2 questions for ALC

Also covers: FMS, PHG, SNN

Chris Pasquale

Nephron Research LLC

1 question for ALC

Also covers: AXGN, BSX, COO +7 more

Christopher Pasquale

Nephron Research

1 question for ALC

Also covers: AXGN, BSX, COO +12 more

Harry Shrives

Citigroup Inc.

1 question for ALC

Jeff Johnson

Robert W. Baird & Co.

1 question for ALC

Also covers: COO, HSIC, PDCO +1 more

Julien Ouaddour

Bank of America

1 question for ALC

Also covers: GNNDY, PHG, SHTPY

Kavya Deshpande

UBS

1 question for ALC

Lawrence Biegelsen

Wells Fargo

1 question for ALC

Also covers: ABT, BAX, BDX +16 more

Steven Lichtman

Oppenheimer & Co. Inc.

1 question for ALC

Also covers: ANGO, COO, DXCM +12 more

Susannah Ludwig

Bernstein

1 question for ALC

Also covers: GNNDY

Tom Stephan

Stifel

1 question for ALC

Also covers: BLCO

Young Li

Jefferies

1 question for ALC

Also covers: ARAY, ATEC, BLCO +8 more

Latest news

Recent press releases and 8-K filings for ALC.

Alcon Discusses Product Innovation and Market Outlook at J.P. Morgan Healthcare Conference

ALC

Product Launch

New Projects/Investments

Guidance Update

Alcon, an eye care specialist, plans to launch 10 to 15 new products over the next couple of years, including the international rollout of PanOptix Pro in 2026 and the launch of TruePlus in Q2.
The company's new Unity platform is designed to enhance efficiency in cataract surgery, with Unity 4D phaco demonstrating 48% faster performance and 41% less energy delivered compared to existing technology.
Alcon anticipates continued solid market growth of 4%-5% in its surgical business and 4%-6% in vision care, driven by strong underlying demand and new product flow.
Alcon is the largest investor in eye care development, spending approximately $1 billion annually, and expects to expand margins while generating around $2 billion in free cash flow each year, with organic investment as its primary capital allocation focus.

7 days ago

Transcript

Alcon Discusses Innovation, Market Growth, and Financial Outlook at J.P. Morgan Conference

ALC

Product Launch

New Projects/Investments

M&A

Alcon, an eye care specialist, is the largest investor in developing eye care, spending approximately $1 billion annually , and anticipates durable, resilient market growth with underlying demand continuing to run hot.
The company is experiencing a period of unique innovation productivity, planning to launch 10 to 15 new products in the next couple of years. About 10 products introduced last year are expected to have a full-year effect this year, with more coming, leading to a double-digit number of products contributing to growth by next year.
Key product developments include the Unity platform for cataract surgery, which will pilot late this year and launch next year , and the successful launch of TripTier for dry eye, a novel TRPM8 receptor agonist, with full reimbursement anticipated by mid-next year.
Alcon expects to generate around $2 billion in free cash flow annually and historically achieves 150-200 basis points of margin expansion. However, approximately 40 basis points of pressure on margins is expected next year due to Aurion investment and $50-$100 million in tariff pressure.
The company's M&A strategy focuses on acquiring single-product companies that struggle to scale, leveraging Alcon's global footprint, as seen in the recent, though unsuccessful, attempt to acquire Star.

7 days ago

Transcript

Alcon Discusses Product Innovation, Market Conditions, and Financial Outlook at J.P. Morgan Conference

ALC

Product Launch

New Projects/Investments

M&A

Alcon is driving growth with significant product innovation, including the UNITY 4D Phaco system, which is 48% faster than previous technology, and upgraded PanOptix IOLs set for international launch in 2026. New products like TRUEplus Monofocal Plus (Q2 2026) and TOTAL30 Multifocal Toric contact lenses (Q1 2026) are also being introduced.
The company expects to introduce a double-digit number of products contributing to growth by next year, with approximately 10 products from last year having a full-year effect in the current year.
For the upcoming year (2026), Alcon anticipates approximately 40 basis points of margin pressure due to investments in Aurion and $50 million-$100 million in tariff pressure, while historically maintaining 150-200 basis points of margin expansion.
Alcon projects annual free cash flow of around $2 billion and maintains a disciplined capital allocation strategy, prioritizing organic investment and evaluating M&A opportunities, as demonstrated by its decision not to proceed with the STAAR acquisition.

7 days ago

Transcript

ALC: Intraocular Lens Market Projected to Reach USD 9.85 Billion by 2033

ALC

M&A

Product Launch

The global Intraocular Lens Market was valued at USD 5.97 billion in 2025 and is projected to reach USD 9.85 billion by 2033, growing at a CAGR of 6.48% during the forecast period of 2026–2033.
The U.S. Intraocular Lens Market was valued at USD 1.60 billion in 2025 and is expected to reach USD 2.59 billion by 2033, expanding at a CAGR of 6.20% over the forecast period of 2026–2033.
Market growth is primarily driven by the rising global geriatric population, increasing incidence of age-related cataracts, and technological advancements, while high costs and limited reimbursement coverage restrict broader market penetration.
In 2025, North America dominated the Intraocular Lens Market, accounting for 38.61% of revenue share, and Asia Pacific is expected to witness the fastest growth with a projected CAGR of 7.03% from 2026-2033.
Recent developments include Alcon's acquisition of STAAR Surgical Company in August 2025 and Johnson & Johnson Vision's launch of the TECNIS PureSee™ intraocular lens in India in February 2025.

Jan 9, 2026, 9:43 AM

Press Release

Alcon Terminates Agreement to Acquire STAAR Surgical

ALC

M&A

Product Launch

Alcon (SIX/NYSE: ALC) terminated its definitive merger agreement with STAAR Surgical Company (NASDAQ: STAA) on January 6, 2026.
The merger agreement, which was originally announced on August 5, 2025, was terminated as Alcon remained disciplined with its views on price and risk.
Alcon's refractive strategy is unchanged, with a continued focus on its new wavelight® plus offering for LASIK.
The company plans global launches of more than 10 major products in both its surgical and vision care franchises during the year.

Jan 7, 2026, 1:19 AM

6-K

Alcon Amends Offer to Acquire Staar Surgical

ALC

M&A

Takeover Bid

New Projects/Investments

Alcon has amended its merger agreement to acquire Staar Surgical Company for $30.75 per share in cash, increasing the total equity value of the deal to approximately $1.6 billion.
The revised offer represents a significant premium of 74% over Staar's 90-day volume weighted average price and 66% over its August 4, 2025 closing price.
The "go-shop" period ended without any alternative proposals, and the acquisition is expected to close in early 2026.
Alcon plans to finance the transaction through new credit facilities and anticipates a positive impact on earnings starting in the second year post-merger.
Alcon possesses strong financial health, including a current ratio of 2.6 and a debt-to-equity ratio of 0.24, supporting its ability to finance the acquisition.

Dec 8, 2025, 2:23 PM

Morningstar

Alcon Reports Q3 2025 Results, Reaffirms Full-Year Guidance

ALC

Earnings

Guidance Update

Product Launch

Alcon reported Q3 2025 sales of $2.6 billion, an increase of 5% year over year, and core diluted earnings per share of $0.79. The company reaffirmed its full-year 2025 guidance, projecting sales between $10.3 billion and $10.4 billion and core diluted EPS in the range of $3.05 to $3.15.
Growth was primarily driven by the surgical equipment franchise, with sales increasing 13% due to the launch of Unity VCS, and ocular health, which grew 6% led by the SUSTAIN family and initial sales of Tripteer.
Core gross margin decreased 50 basis points to 62.9%, mainly due to incremental tariffs, which are anticipated to impact cost of sales by approximately $100 million for the full year.

Nov 12, 2025, 1:00 PM

Transcript

Alcon Reports Q3 2025 Results and Reaffirms Full-Year Guidance

ALC

Earnings

Product Launch

Guidance Update

Alcon reported Q3 2025 sales of $2.6 billion, a 5% increase year-over-year, driven by 5% growth in both the Surgical franchise ($1.4 billion) and Vision Care ($1.2 billion).
Growth was notably supported by new product momentum, with Equipment sales increasing 13% to $243 million due to the Unity VCS launch, and Ocular Health sales growing 6% to $462 million led by the Systane family and initial sales of Tryptyr.
The company reaffirmed its full-year 2025 guidance, projecting sales between $10.3 billion and $10.4 billion and core diluted EPS in the range of $3.05 to $3.15.
Alcon generated $1.2 billion in free cash flow during the first nine months of 2025 and returned $550 million to shareholders through share repurchases and dividends. The company also anticipates an incremental tariff impact of $50 million to $100 million in 2026.

Nov 12, 2025, 1:00 PM

Transcript

Alcon Reports Solid Third-Quarter 2025 Results and Announces Strategic Acquisitions

ALC

Earnings

M&A

Guidance Update

Alcon reported third-quarter 2025 sales of $2.6 billion, an increase of 6% on a reported basis, and diluted earnings per share of $0.48. For the first nine months of 2025, net sales were $7.6 billion, up 4%.
The company maintained its full-year 2025 guidance and generated $1.6 billion in cash from operations and $1.2 billion in free cash flow during the first nine months of 2025.
Alcon entered into a definitive agreement to acquire STAAR Surgical Company for approximately $1.5 billion and executed a $1.9 billion bridge loan agreement to fund this and other potential acquisitions, which remained undrawn as of September 30, 2025. Additionally, Alcon closed on the acquisition of a majority interest in Aurion Biotech, Inc. for approximately $522 million and LumiThera, Inc. for $125 million in cash paid at closing.
Additional tariffs incurred in the third quarter of 2025 amounted to $30 million, with an estimated gross impact to increase 2025 Cost of net sales by approximately $100 million, which the company expects to offset.

Nov 12, 2025, 11:18 AM

6-K

Alcon Reports Solid Third-Quarter 2025 Results and Maintains Full-Year Guidance

ALC

Earnings

Guidance Update

Share Buyback

Alcon reported third-quarter 2025 sales of $2.6 billion, an increase of 6% on a reported basis, and diluted earnings per share of $0.48.
For the first nine months of 2025, the company generated $1.6 billion cash from operations and $1.2 billion free cash flow, returning $550 million to shareholders through repurchases and dividends.
The company maintained its full-year 2025 guidance, projecting net sales between $10.3 billion and $10.4 billion and core diluted EPS between $3.05 and $3.15.
Third-quarter growth was driven by accelerated performance in Equipment and Ocular Health, with momentum from products like Unity VCS and PanOptix Pro.