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
6 questions for BLCO
Also covers: ACB, AUPH, BHC +2 more
Joanne Wuensch
Citigroup Inc.
5 questions for BLCO
Also covers: ABT, BAX, BDX +18 more
Patrick Wood
Morgan Stanley
5 questions for BLCO
Also covers: ALC, BDX, BSX +17 more
YL
Young Li
Jefferies
4 questions for BLCO
Also covers: ALC, ARAY, ATEC +8 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 +24 more
Matthew Miksic
Barclays PLC
3 questions for BLCO
Also covers: ABT, ATEC, BAX +15 more
DR
David Roman
Goldman Sachs Group Inc.
2 questions for BLCO
Also covers: ABT, BAX, BDX +18 more
LL
Lily Lazada
JPMorgan Chase & Co.
2 questions for BLCO
MM
Matt Miksich
Barclays
2 questions for BLCO
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
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
LL
Lei Ling
Wells Fargo
1 question for BLCO
Matt Miksic
Barclays Investment Bank
1 question for BLCO
Also covers: ABT, ATEC, BAX +14 more
RM
Robbie Marcus
JPMorgan Chase & Co.
1 question for BLCO
Also covers: ABT, BAX, BDX +9 more
XL
Xuyang Li
Jefferies
1 question for BLCO
Also covers: HYPR, SIBN
Recent press releases and 8-K filings for BLCO.
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.
3 days ago
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.
3 days ago
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.
3 days ago
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
Bausch + Lomb Outlines Strategic Vision 27 and Three-Year Growth Plan
BLCO
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Bausch + Lomb initiated its Vision 27 program at the beginning of 2025, aiming to improve operating expenses, gross margin, and EBITDA margins, with a goal to achieve EBITDA margins comparable to or better than competitors.
- The company announced a three-year plan at its Analyst Day, projecting 5%-7% sales growth faster than the market, consistent margin improvement of approximately 200 basis points annually, and a target of 3.5x net leverage by 2028. This plan is based on organic growth and contemplates no M&A.
- A significant innovation, Project Halo, involves a novel bioactive contact lens material designed to address end-of-day dryness, with clinical data expected by mid-2026 and a planned launch in 2028 or potentially earlier. This product is expected to be high-margin due to production on existing manufacturing lines.
- The R&D pipeline is quantified at over $7 billion in potential revenue, with an expanding budget focused on shifting allocation towards programs that lead to new products.
Dec 3, 2025, 2:00 PM
Bausch + Lomb Details Three-Year Financial Plan and Product Pipeline
BLCO
Guidance Update
New Projects/Investments
Product Launch
- Bausch + Lomb announced a three-year plan targeting 5%-7% revenue growth and a 600 basis point margin improvement by 2028, aiming for 3.5x net leverage by 2028.
- The company is undergoing a "revival" with the Vision 27 program, initiated at the beginning of 2025, focusing on operational excellence, gross margin improvement, and EBITDA margins, with the goal of achieving sales growth faster than the market and deep innovation.
- Key product pipeline developments include the Project Halo bioactive contact lens platform expected to launch in 2028, Lumify Luxe launching in about a year, and a glaucoma product with phase 2 data expected in the back half of 2026.
- R&D investment is increasing from approximately 7% to 7.5%-8% of revenue to fund these innovation programs.
Dec 3, 2025, 2:00 PM
BLCO Outlines 2028 Financial Targets and R&D Pipeline
BLCO
Guidance Update
Product Launch
New Projects/Investments
- BLCO targets a 5%-7% revenue CAGR and an adjusted EBITDA margin of 23% by 2028, reflecting a 600 basis point improvement from its 2025 guidance midpoint.
- The company anticipates double-digit EPS growth, cash flow conversion exceeding 50%, and net leverage improving to 3.5 times by the end of 2028.
- BLCO's R&D pipeline is expected to generate meaningful value beyond 2028, with a potential for $7 billion in peak sales from breakthrough products.
- Key product innovations include a new bioactive contact lens (Project Halo) available in 2028, a dual-action fixed-dose combination eye drop for dry eye, and surgical technologies like C-Lira, which is expected to receive EU approval in H2 2026.
- Margin expansion is primarily driven by a 250 basis point contribution from manufacturing and product mix and 400 basis points from SG&A efficiencies, with these targets not relying on significant R&D risk or products launching beyond 2028.
Nov 13, 2025, 1:30 PM
4D Molecular Therapeutics Reports Q3 2025 Financial Results and Operational Highlights
BLCO
Earnings
Guidance Update
New Projects/Investments
- 4D Molecular Therapeutics reported $372 million in cash, cash equivalents, and marketable securities as of September 30, 2025, with an expected cash runway into the second half of 2028.
- The company entered a strategic partnership with Otsuka Pharmaceutical Co., Ltd. for 4D-150 in the APAC region, receiving $85 million in upfront cash and expecting at least $50 million from cost sharing.
- An equity offering provided ~$93 million in net proceeds, and an equity investment of up to $11 million was secured from the Cystic Fibrosis Foundation to accelerate 4D-710 development.
- Positive long-term safety and efficacy data for 4D-150 in wet AMD was announced from the Phase 1/2 PRISM clinical trial, with Phase 3 trials on track for enrollment completion in Q1 2026 and H2 2026.
- For the third quarter of 2025, the company reported a net loss of $56.9 million.
Nov 10, 2025, 1:00 PM
BLCO Reports Strong Q3 2025 Results and Updates Full-Year Guidance
BLCO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- BLCO reported Q3 2025 total revenue of $1.281 billion, a 6% year-over-year increase, with adjusted EBITDA of $243 million, up 7% year over year, and adjusted EPS of $0.18.
- MIEBO revenue significantly grew to $84 million in Q3 2025, representing a 33% sequential increase and 71% year-over-year increase.
- The company maintained its full-year 2025 revenue guidance at $5.05 billion to $5.15 billion and updated its adjusted EBITDA guidance to $870 million to $910 million, raising the lower end of the range.
- BLCO introduced a fourth strategic pillar, "Financial Excellence," focused on disciplined execution and margin expansion, contributing to a Q3 adjusted EBITDA margin of 19%, a 400 basis point sequential increase.
Oct 29, 2025, 12:00 PM
Quarterly earnings call transcripts for Bausch & Lomb.
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