Bausch Health (BHC) Q4 2018 Earnings Call

Bausch Health’s stock rises after Q4 revenue beats estimates
February 20, 2019

Bausch Health Companies Inc. (BHC) topped revenue estimates for the fourth quarter of 2018, sending shares climbing by 2.8% in morning hours on Wednesday.

Total revenues dropped 2% year-over-year to $2.12 billion, but came ahead of consensus estimates of $2.08 billion.

On a GAAP basis, the company reported a net loss of $344 million, or $0.98 per share, compared to a net income of $513 million, or $1.45 per share, in the prior-year quarter. Adjusted net income grew 6% to $368 million. The company did not state an adjusted EPS number.

During the quarter, revenues in the Bausch + Lomb/International and Salix segments remained relatively flat on a year-over-year basis. The Ortho Dermatologics and Diversified Products segments posted revenue declines of 2% and 11%, respectively, hurt by lower volumes and decreases due to loss of exclusivity for a number of products.