Bausch + Lomb Beats on Q3, Raises 2026 Revenue and EBITDA Guidance
BLCO sits 26% above its 52-week low of $14.44.
Summary
Bausch + Lomb posted Q3 revenue of $1.375B (+7%) and $325M adjusted EBITDA, then raised full-year 2026 revenue and EBITDA guidance — the first quarter reported under interim CEO Thomas Appio.
Key Events · Earnings and Guidance · BLCO
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Q3 Revenue Up 7% to $1.375B
Revenue rose $94M from $1.281B a year ago, or 8% on a constant currency basis, with growth in all three segments: Vision Care $774M (+5%), Surgical $234M (+9%) and Pharmaceuticals $367M (+11%).
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Profitability Jumped Sharply
Operating income was $155M versus $95M, GAAP net income was $32M versus a $28M loss, and adjusted EBITDA rose $82M to $325M. Adjusted EPS was $0.34 versus $0.18.
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Full-Year Guidance Raised
Revenue guidance moved to $5.450B-$5.550B from $5.440B-$5.540B, and Adjusted EBITDA excluding Acquired IPR&D to $1.090B-$1.140B from $1.025B-$1.075B — a $65M midpoint increase.
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Cash Generation Strengthened
Cash flow from operations was $233M versus $137M a year ago, with cash and restricted cash of $515M at September 30, 2026.
Analysis · BLCO · Industrial Applications And Services
Q3 revenue of $1.375B grew 7% (8% constant currency), operating income rose $60M to $155M, and adjusted EBITDA climbed $82M to $325M — the fourth straight quarter of delivery against Investor Day targets. Management raised full-year Adjusted EBITDA excluding Acquired IPR&D guidance by $65M at the midpoint ($1.090B-$1.140B vs $1.025B-$1.075B) and nudged revenue guidance up $10M. That matters because the company is still working toward the debt-leverage thresholds tied to the planned separation from Bausch Health. The results land two weeks after CEO Brent Saunders' abrupt departure and the appointment of chairman Thomas Appio as interim CEO, so they are the first hard evidence that the operating momentum survived the leadership change.
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At the time of this filing, BLCO was trading at $18.25 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $14.44 to $18.92. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.