Laval, Quebec-based Bausch Health, which holds a majority stake in Bausch + Lomb, has upwardly revised its annual revenue forecast following a significant 9.4% rise in third-quarter earnings. The company now expects to post a higher revenue bracket of $8.59 billion to $8.71 billion for the year, surpassing its previous estimate of $8.45 billion to $8.65 billion.
The new projection was announced Today after the firm's Q3 revenue of $2.24 billion exceeded the FactSet analysts' projection of $2.12 billion. When excluding Bausch + Lomb's contribution, the projected revenue for the year is set between $4.55 billion and $4.63 billion.
In addition to the revenue forecast, Bausch Health also provided an outlook on its adjusted EBITDA for the year, which is expected to fall within $3.01 billion to $3.11 billion. The upward revision in both revenue and EBITDA forecasts indicates a strong financial performance by the company in the third quarter and highlights its positive outlook for the remainder of the fiscal year.
InvestingPro Insights
Bausch Health, despite its robust financial performance in Q3, operates under a significant debt burden, as suggested by one of the InvestingPro Tips. The company is also quickly burning through cash, which might be a concern for potential investors. However, analysts predict that the company will be profitable this year, which aligns with the company's positive outlook for the remainder of the fiscal year.
In terms of real-time data from InvestingPro, Bausch Health has a market cap of 2580M USD. The company had a revenue of 8350M USD in the last twelve months as of Q2 2023, showing a growth of 1.93%. This aligns with the company's upward revision of its annual revenue forecast. The company's P/E Ratio stands at -13.32, indicating that the company is not profitable over the last twelve months, which is also pointed out in the InvestingPro Tips.
InvestingPro offers more insights and tips for investors. For Bausch Health, there are additional 2 InvestingPro Tips available, which can provide more comprehensive insights to potential investors.
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