- Bausch Health Companies Inc. (BHC) sees downward first financial quarter results
- Total reported revenues were $1.91 billion for the first quarter of 2022]
- Operating income is $285 million for this first quarter and operating loss was $221 million for 2021
- Net loss for the first quarter is $69 million, up from the $610 million for 202
- Adjusted EBITDA (non-GAAP) is $732 million for the quarter
- Bausch Health Companies Inc. (BHC) is down 24.08 per cent trading at $12.74 per share as of 12:45 p.m. ET.
Bausch Health Companies (BHC), a global specialty pharmaceutical and medical device company sees downward, but stable, first financial quarter results.
Bausch Health is a global specialty pharmaceutical, consumer health, and medical device company
Total reported revenues were $1.91 billion for the first quarter of 2022, a 5.00 per cent decrease year-over-year.
Salix segment organic revenues were $464 million for the first quarter of 2022, a 2.00 per cent decrease from 2021’s first quarter. The international segment reported revenues were $244 million for the quarter, a 20 per cent decrease from last year’s quarter.
Operating income is $285 million for the first quarter of 2022, whereas the operating loss was $221 million for 2021. Net loss for the first quarter is $69 million, which compares favourably to the $610 million for 2021.
Adjusted net income (non-GAAP) for the first quarter of 2022 is $263 million, versus $370 million for the first quarter of 2021, a decrease of $107 million.
The cash used by operations is $63 million in the first quarter, significantly lower than the $443 million used in the first quarter of 2021.
GAAP earnings per share (EPS) diluted for the first quarter of 2022 is $0.19, as compared to $1.71 for the first quarter of 2021. Adjusted EBITDA (non-GAAP) is $732 million for the quarter.
Bausch + Lomb segment reported revenues were $889 million for the first quarter of 2022, an increase of $8 million.
Bausch’s eye health business, Bausch + Lomb, launches its initial public offering and begins trading under the ticker BLCO last week.
Bausch expects to close the offering with $630 million in gross proceeds and will be used for the repayment of its long-term debt. Thomas J. Appio will assume the role of CEO of Bausch Health after the offering for Bausch + Lomb is closed. The company expects the offering to close today.
Bausch Health Companies Inc. (BHC) is down 24.08 per cent trading at $12.74 per share as of 12:45 p.m. ET.