Earnings summaries and quarterly performance for Bausch & Lomb.
Executive leadership at Bausch & Lomb.
Brenton L. Saunders
Detailed
Chief Executive Officer
CEO
AR
A. Robert D. Bailey
Detailed
Executive Vice President and Chief Legal Officer
AJ
Andrew J. Stewart
Detailed
President, Global Pharmaceuticals and International Consumer
LB
Luc Bonnefoy
Detailed
President, Surgical
SA
Sam A. Eldessouky
Detailed
Executive Vice President and Chief Financial Officer
YH
Yehia Hashad, M.D.
Detailed
Executive Vice President of Research & Development and Chief Medical Officer
Board of directors at Bausch & Lomb.
Research analysts who have asked questions during Bausch & Lomb earnings calls.
DM
Douglas Miehm
RBC Capital Markets
8 questions for BLCO
Also covers: ACB, AUPH, BHC +2 more
Joanne Wuensch
Citigroup Inc.
7 questions for BLCO
Also covers: ABT, BAX, BDX +19 more
Patrick Wood
Morgan Stanley
7 questions for BLCO
Also covers: ALC, BDX, BSX +20 more
YL
Young Li
Jefferies
6 questions for BLCO
Also covers: ALC, ARAY, ATEC +8 more
DR
David Roman
Goldman Sachs Group Inc.
4 questions for BLCO
Also covers: ABT, BAX, BBNX +21 more
Gary Nachman
Raymond James
3 questions for BLCO
Also covers: ABBV, ACHV, ADMA +9 more
LB
Larry Biegelsen
Wells Fargo & Company
3 questions for BLCO
Also covers: ABT, ALC, AXNX +25 more
Matthew Miksic
Barclays PLC
3 questions for BLCO
Also covers: ABT, ATEC, BAX +15 more
MM
Matt Miksich
Barclays
3 questions for BLCO
Also covers: GMED, MDT
LL
Lily Lazada
JPMorgan Chase & Co.
2 questions for BLCO
Matt Miksic
Barclays Investment Bank
2 questions for BLCO
Also covers: ABT, ALC, ATEC +16 more
PC
Pito Chickering
Deutsche Bank
2 questions for BLCO
Also covers: ACHC, AHCO, AVAH +18 more
RM
Robert Marcus
JPMorgan Chase & Co.
2 questions for BLCO
Also covers: ABT, BAX, BDX +21 more
Tom Stephan
Stifel
2 questions for BLCO
Also covers: ALC, OFIX, RXST
CB
Craig Bijou
Bank of America Securities
1 question for BLCO
Also covers: COO, FNA, GEHC +9 more
DR
Dennis Resnick
Raymond James
1 question for BLCO
L
Lee
Wells Fargo
1 question for BLCO
Also covers: NVCR
L
Leigh
Wells Fargo
1 question for BLCO
LL
Lei Ling
Wells Fargo
1 question for BLCO
L
Lillian
JPMorgan Chase & Co.
1 question for BLCO
L
Lily
JPMorgan Chase & Co.
1 question for BLCO
Also covers: CBLL
RM
Robbie Marcus
JPMorgan Chase & Co.
1 question for BLCO
Also covers: ABT, BAX, BDX +15 more
XL
Xuyang Li
Jefferies
1 question for BLCO
Also covers: HYPR, SIBN
Recent press releases and 8-K filings for BLCO.
Bausch + Lomb Reports Record Q4 2025 Results and Provides Strong 2026 Guidance
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bausch + Lomb achieved record Q4 2025 revenue of $1.405 billion, a 7% increase in constant currency, and record Adjusted EBITDA of $330 million, marking a 27% year-over-year growth with a 23.5% Adjusted EBITDA margin.
- For the full year 2025, the company reported $5.101 billion in revenue, up 5% (or 6% excluding the enVista recall), and $891 million in Adjusted EBITDA.
- MIEBO demonstrated strong performance, generating $112 million in Q4 revenue (up 111% year-over-year) and $316 million for the full year 2025 (up 84%), with expectations to exceed previous peak sales estimates.
- The company issued 2026 full-year guidance, projecting revenue between $5.375 billion and $5.475 billion (representing 5%-7% constant currency growth) and Adjusted EBITDA between $1 billion and $1.05 billion (approximately 15% growth year-over-year), reflecting continued margin expansion to approximately 19% at the midpoint.
Feb 18, 2026, 1:00 PM
Bausch + Lomb Reports Record Q4 and Full Year 2025 Results, Provides 2026 Guidance
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bausch + Lomb reported record Q4 2025 revenue of $1.405 billion, an increase of 7% on a constant currency basis, and Adjusted EBITDA of $330 million, up 27%. For the full year 2025, revenue was $5.101 billion, up 5% (or 6% excluding the enVista recall), with Adjusted EBITDA of $891 million.
- The company issued full year 2026 revenue guidance in the range of $5.375 billion to $5.475 billion, which represents 5%-7% constant currency growth, and anticipates continued margin expansion.
- MIEBO generated $112 million in Q4 2025 revenue and $316 million for the full year, with its peak sales potential now expected to exceed $600 million, an increase from the previous estimate of $500 million.
- The strong financial performance is attributed to disciplined execution of the Vision 2027 program, resulting in structural improvements in the P&L and significant operating leverage.
Feb 18, 2026, 1:00 PM
Bausch + Lomb Reports Record Q4 and Full Year 2025 Results, Provides Strong 2026 Guidance
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bausch + Lomb reported record Q4 2025 revenue of $1.405 billion, an increase of 7% on a constant currency basis, and record Adjusted EBITDA of $330 million, up 27%, achieving an Adjusted EBITDA margin of 23.5%.
- For the full year 2025, revenue reached $5.101 billion, growing 6% constant currency excluding the enVista recall, with Adjusted EBITDA of $891 million.
- Notable product performances include MIEBO revenue of $112 million in Q4 2025, an increase of 111% year-over-year, and Lumify revenue of $63 million, up 24%. The company now projects MIEBO peak sales could exceed $600 million.
- The company issued 2026 full-year guidance, forecasting revenue between $5.375 billion and $5.475 billion (constant currency growth of 5%-7%) and Adjusted EBITDA between $1 billion and $1.05 billion (approximately 15% year-over-year growth). This reflects an anticipated Adjusted EBITDA margin of approximately 19% at the midpoint of guidance.
Feb 18, 2026, 1:00 PM
Bausch + Lomb Announces Fourth Quarter and Full-Year 2025 Results
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bausch + Lomb reported full-year 2025 revenue of $5,101 million, an increase of 6% from 2024, and Q4 2025 revenue of $1,405 million, up 10% compared to Q4 2024.
- The company recorded a full-year 2025 GAAP net loss of $360 million and a Q4 2025 GAAP net loss of $58 million.
- Adjusted EBITDA (non-GAAP) for full-year 2025 was $858 million, while Q4 2025 Adjusted EBITDA (non-GAAP) increased to $326 million from $259 million in Q4 2024.
- Cash flow from operations for full-year 2025 was $283 million, an increase of $51 million from $232 million in 2024.
- For full-year 2026, Bausch + Lomb provided revenue guidance of $5.375 billion to $5.475 billion and Adjusted EBITDA Excluding Acquired IPR&D (non-GAAP) guidance of $1.000 billion to $1.050 billion.
Feb 18, 2026, 12:01 PM
Bausch + Lomb Announces Fourth-Quarter and Full-Year 2025 Results and Provides 2026 Guidance
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bausch + Lomb reported fourth-quarter 2025 revenue of $1.405 billion, a 10% increase as reported, and a GAAP net loss of $58 million.
- For the full year 2025, revenue reached $5.101 billion, up 6% as reported, with a GAAP net loss of $360 million.
- The company's Adjusted EBITDA was $326 million for Q4 2025 and $858 million for the full year 2025.
- Bausch + Lomb provided full-year 2026 guidance, projecting revenue between $5.375 billion and $5.475 billion and Adjusted EBITDA Excluding Acquired IPR&D between $1.000 billion and $1.050 billion.
Feb 18, 2026, 11:58 AM
Bausch + Lomb (BLCO) Discusses Strategic Growth and Financial Targets
BLCO
Product Launch
New Projects/Investments
Guidance Update
- Bausch + Lomb is focused on innovation and pipeline development across its consumer, surgical, contact lens, and pharmaceutical segments, with anticipated launches like Blink Triple Care (first half of 2026), PreserVision AREDS 3 (next few months), and a bioactive contact lens (2028).
- The company targets financial excellence, aiming to increase its EBITDA margin from approximately 17% to 23% by 2028 (a 600 basis point expansion) through product mix, manufacturing efficiency, and SG&A reduction.
- Management expects double-digit annual EPS growth and improved free cash flow, with adjusted cash flow to adjusted EBITDA conversion targeted at 50% plus by 2028.
- Capital allocation priorities include strengthening the balance sheet to a 3.5x leverage target, investing in the business, and pursuing opportunistic, accretive M&A.
Jan 12, 2026, 9:30 PM
Bausch + Lomb Outlines Growth and Margin Expansion Strategy at J.P. Morgan Healthcare Conference
BLCO
Guidance Update
Product Launch
New Projects/Investments
- Bausch + Lomb targets an EBITDA margin of 23% by 2028, representing a 600 basis point increase from approximately 17%, driven by 250 basis points from gross margin and 400 basis points from SG&A. Double-digit annual EPS growth is also anticipated.
- The company's pipeline includes several key product launches: Blink Triple Care preservative-free drops (H1 2026), PreserVision AREDS 3 (early 2026), and Lumify Luxe (H1 2027) in consumer. The Project Halo bioactive contact lens is expected in 2028, with other contact lenses potentially adding $1.25 billion in peak sales.
- The pharmaceutical pipeline has a $3.9 billion peak sales opportunity, featuring a dual-action dry eye drop (Phase 2B data H2 2026) and a glaucoma neuroprotection product (data end of 2026). Surgical pipeline benefits are expected from H2 2026, including anticipated U.S. approval for ELIOS later in 2026.
- Significant margin improvement is expected in the surgical business, currently in single digits, through a shift to higher-margin premium IOLs and manufacturing efficiencies, with real improvements projected by mid-year or end of 2026.
- Capital allocation priorities include strengthening the balance sheet by reducing leverage to a 3.5x target, with CapEx expected to decrease to 4-4.5% of revenue from approximately 6%. Interest expense is also projected to be below 8% in 2026.
Jan 12, 2026, 9:30 PM
Bausch + Lomb Outlines Growth and Margin Expansion Strategy
BLCO
Guidance Update
Product Launch
New Projects/Investments
- Bausch + Lomb anticipates 600 basis points of EBITDA margin expansion to reach 23% by 2028, driven by 250 basis points from gross margin improvements (product mix and manufacturing efficiencies) and 400 basis points from SG&A reduction.
- The company expects double-digit annual EPS growth and improved free cash flow, with a target of over 50% conversion of adjusted cash flow to adjusted EBITDA by 2028.
- Key product launches in 2026 include PreserVision AREDS 3 (consumer) and Elios (surgical, anticipated U.S. approval).
- The pipeline features significant future growth drivers such as Project Halo (bioactive contact lens) launching in 2028, with expected peak sales from new contact lenses totaling $1.25 billion, and a pharmaceutical pipeline with approximately $3.9 billion in peak sales opportunity.
- Capital allocation priorities include strengthening the balance sheet to achieve a 3.5x leverage target, investing in the business, and opportunistic, accretive M&A.
Jan 12, 2026, 9:30 PM
Bausch + Lomb Completes Refinancing of Term B Loans
BLCO
Debt Issuance
- Bausch + Lomb (BLCO) completed the refinancing of its outstanding Term B Loans by entering into a fourth amendment to its existing credit agreement.
- The company secured $2,802,125,000 in new Replacement Term Loans, which were used to refinance existing Term B loans due in 2031 and 2028.
- This refinancing resulted in a 0.50% per annum reduction in the applicable margin for the Third Amendment Term Loans and a 0.25% per annum reduction for the First Incremental Term Loans.
- The Replacement Term Loans will mature on January 15, 2031, effectively extending the maturity date for the First Incremental Term Loans from September 29, 2028.
- The amortization rate for the Replacement Term Loans is 1.00% per annum, with the first installment payable on June 30, 2026.
Jan 2, 2026, 9:30 PM
Bausch + Lomb Completes Refinancing of Term B Loans
BLCO
Debt Issuance
- Bausch + Lomb Corporation completed the refinancing of its outstanding Term B Loans on January 2, 2026.
- The company entered into a fourth amendment to its existing credit agreement, providing $2,802,125,000 in new Replacement Term Loans.
- The proceeds from these Replacement Term Loans were used to refinance all outstanding Term B loans due 2031 and Term B loans due 2028.
- This refinancing resulted in a 0.50% per annum reduction in the applicable margin for the Third Amendment Term Loans and a 0.25% per annum reduction for the First Incremental Term Loans.
- The Replacement Term Loans will mature on January 15, 2031, which extends the maturity of the First Incremental Term Loans from September 29, 2028.
Jan 2, 2026, 9:10 PM
Quarterly earnings call transcripts for Bausch & Lomb.
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