Bausch + Lomb Corp
TSX:BLCO
Bausch + Lomb Corp
Founded in 1853, Bausch + Lomb Corp. began as a small optical goods store in Rochester, New York, eventually blossoming into a multinational eye health business. Over its long history, the company has established itself as a cornerstone in the realm of vision care, leveraging its deep expertise to innovate and expand its product offerings. Today, Bausch + Lomb operates through three primary business segments: Vision Care, Ophthalmic Pharmaceuticals, and Surgical. In the Vision Care segment, it provides contact lenses, lens care products, and other related items, making it a trusted choice for consumers around the globe. The Ophthalmic Pharmaceuticals division addresses a broad spectrum of eye health needs, producing prescription and over-the-counter pharmaceuticals that target various eye conditions. Meanwhile, the Surgical segment offers a suite of ophthalmic surgical devices, designed for procedures ranging from cataract extraction to vitreoretinal surgery.
Bausch + Lomb generates revenue through a mix of consumer products and medical equipment. Their extensive contact lens product line caters to diverse needs – from daily disposables to specialized lenses for specific eye conditions, thereby capturing a significant portion of the eye care market. The company's pharmaceuticals and surgical tools not only complement its vision care products but also tap into the lucrative medical market, providing solutions for both medical professionals and their patients. By maintaining a robust portfolio that spans consumer goods and professional-grade equipment, Bausch + Lomb effectively positions itself as both a retail and medical partner, ensuring steady revenue streams from a global customer base. With a blend of research-driven innovation and strategic market positioning, Bausch + Lomb continues to cement its legacy as a leader in eye health.
Revenue Beat & Guidance Raised: Bausch + Lomb delivered Q2 revenue of $1.278 billion, up 3% year-over-year, and raised its full-year revenue guidance by $50 million to a new range of $5.05–$5.15 billion.
enVista Recall Recovery: The company continues to ramp up enVista intraocular lens production after a recall, with Surgical segment revenue up 1% (would have been 15% excluding recall impact). Full recovery and momentum are expected by Q1 2026.
Strong Dry Eye Growth: Dry eye portfolio revenue grew 16% in constant currency, with standout brands like Artelac (up 34%) and Blink (up 13%).
Contact Lenses Outperform: Contact lens revenue was up 7%, with Daily SiHy growing 36% and broad-based geographic gains.
Pharma Mixed, Generics Weak: Pharma segment declined 1% due to a 29% drop in U.S. generics, but branded Rx grew 8% with strong Miebo and Xiidra performance.
Margins Under Pressure: Adjusted gross margin fell by 130 bps to 60.6%, mainly from the enVista recall and product mix.
Tariffs Managed: Tariff headwinds are now expected to be about 40 bps in 2025 and are fully absorbed in current guidance.
Pipeline Strength: Management expressed strong optimism about the R&D pipeline, especially in dry eye and contact lenses, with more details coming at the November Investor Day.
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