Jun 2026 (Q2 FY26) — Jul 29, 2026
Bausch + Lomb Q2 FY26 — Strong Broad-Based Growth and Margin Expansion Drive Raised Outlook
Read the full callBausch + Lomb (BLCO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Bausch + Lomb earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,394 | +9.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 6.0 | +6.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -14.0 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
17 of 19 judged targets kept · 40 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clinical trial initiation for combination dry eye therapy | Enter clinicals | Jun 2025 | readouts for our dual-action dry eye candidate and ocular surface pain candidate are expected in the second half of this year. | Achieved |
| Adjusted EBITDA | $1.01 billion to $1.06 billion | Mar 2026 | We are also raising full year adjusted EBITDA guidance by $15 million to a range of $1.025 billion to $1.075 billion. | Revised Up |
| Adjusted gross margin | approximately 62% | Mar 2026 | We continue to expect adjusted gross margin to be approximately 62% and investments in R&D to be in the range of 7.5% to 8% of revenue. | On Track |
2 of Bausch & Lomb Corp's 59 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 56 more targets are in the full ledger.
Claimed
- Constant currency revenue grew 8%, reflecting consistent performance across all segments.
- Adjusted EBITDA increased 28% year-over-year to $246 million, with margin expanding 260 basis points to 17.6%.
- Adjusted cash flow from operations more than tripled to $161 million in Q2, with year-to-date conversion at 46%.
- Net leverage reduced by a full turn year-over-year to 4.7x, demonstrating strong balance sheet progress.
- Full-year revenue guidance raised by $20 million to $5.440 billion - $5.540 billion, and Adjusted EBITDA guidance raised by $15 million to $1.025 billion - $1.075 billion.
Qualified
Price
$16.66 +3.87% · +$0.62
Performance +10.1% 1Y
1Y: $15.13 on 14 Oct 2025 → $16.66. High $18.6 (25 Feb 2026), low $14.56 (20 Nov 2025).
- Previous close
- $16.04
- 52-week range
- $14.56 – $18.6
- One year
- +11.29%
Overview
- Symbol
- BLCO
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
17 of 19 judged targets kept · 40 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clinical trial initiation for combination dry eye therapy | Enter clinicals | Jun 2025 | readouts for our dual-action dry eye candidate and ocular surface pain candidate are expected in the second half of this year. | Achieved |
| Adjusted EBITDA | $1.01 billion to $1.06 billion | Mar 2026 | We are also raising full year adjusted EBITDA guidance by $15 million to a range of $1.025 billion to $1.075 billion. | Revised Up |
| Adjusted gross margin | approximately 62% | Mar 2026 | We continue to expect adjusted gross margin to be approximately 62% and investments in R&D to be in the range of 7.5% to 8% of revenue. | On Track |
Claimed
- Constant currency revenue grew 8%, reflecting consistent performance across all segments.
- Adjusted EBITDA increased 28% year-over-year to $246 million, with margin expanding 260 basis points to 17.6%.
- Adjusted cash flow from operations more than tripled to $161 million in Q2, with year-to-date conversion at 46%.
- Net leverage reduced by a full turn year-over-year to 4.7x, demonstrating strong balance sheet progress.
- Full-year revenue guidance raised by $20 million to $5.440 billion - $5.540 billion, and Adjusted EBITDA guidance raised by $15 million to $1.025 billion - $1.075 billion.
Qualified
The full ledger
Open Bausch & Lomb Corp’s full ledger
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Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Bausch + Lomb Q1 FY26 — Strong Revenue Growth and Significant Adjusted EBITDA Expansion
Read the full callEvery analysed call
Bausch + Lomb earnings calls (BLCO)
Financials
What the filings say
Net profit, year on year: +77% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,196 | 1,280 | 1,137 | 1,278 | 1,281 | 1,405 | 1,244 | 1,394 |
| Expenses | 1,153 | 1,193 | 1,220 | 1,289 | 1,186 | 1,293 | 1,211 | 1,311 |
| Operating profit | 43 | 87 | -83 | -11 | 95 | 112 | 33 | 83 |
| Operating margin | 3.6% | 6.8% | −7.3% | −0.9% | 7.4% | 8.0% | 2.6% | 6.0% |
| Profit before tax | -58 | -10 | -180 | -147 | -3 | 13 | -64 | -11 |
| Tax rate | 113.8% | 80.0% | −17.2% | 60.5% | −733.3% | 546.1% | −9.4% | 9.1% |
| Net profit | 4 | -3 | -212 | -62 | -28 | -58 | -71 | -14 |
| EPS ($ per share) | 0.01 | — | -0.60 | -0.18 | -0.08 | — | -0.20 | -0.04 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Equity capital | — | 0 | 0 | 0 | 0 | 0 |
| Reserves | — | 0 | 6 | -254 | -571 | -931 |
| Total liabilities | — | 1,421 | 4,043 | 6,522 | 6,925 | 7,503 |
| Fixed assets | — | 1,225 | 1,300 | 1,390 | 1,485 | 1,762 |
| Total assets | — | 10,823 | 11,144 | 13,442 | 13,469 | 14,022 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | 522 | 873 | 345 | -17 | 232 | 283 |
| Cash from investing | -256 | -214 | -215 | -2,109 | -412 | -455 |
| Cash from financing | -232 | -712 | 81 | 2,078 | 178 | 225 |
| Net cash flow | 46 | -61 | 203 | -46 | -18 | 81 |
| Capital expenditure | -253 | -193 | -175 | -181 | -291 | -349 |
| Free cash flow | 269 | 680 | 170 | -198 | -59 | -66 |
BLCO revenue by segment
Surgical grew from 17% to 18% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Vision Care | 57% | 56% | 58% | 59% | 57% | 55% | 57% | 56% | +4.1% |
| Pharmaceuticals | 26% | 25% | 23% | 24% | 26% | 27% | 25% | 25% | +14.6% |
| Surgical | 17% | 18% | 19% | 17% | 17% | 18% | 18% | 18% | +18.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q4 FY2024 · share of revenue
- Other Countries 19% ↑ 4 pt
- CN 8%
- FR 4% ↓ 1 pt
- JP 4%
- GB 3%
- CA 3%
- DE 3% ↓ 1 pt
- RU 3%
- ES 2%
- IT 2%
- MX 2%
- PL 1%
As BLCO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
89 filings between Nov 14, 2025 and Aug 12, 2026.
Open market
decisions to buy or sellPurchases
$1.22M
9 purchases by 9 insiders
Sales
$1.19M
3 sales by 2 insiders
Compensation
not trading decisions- 49
- Award — granted as compensation
- 28
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Munsch Frederick | — | $887.7K | Aug 10, 2026 |
| VON ESCHENBACH ANDREW C. | $79.9K | $306.7K | Aug 7, 2026 |
| COLLIS STEVEN H | $267.1K | — | Feb 23, 2026 |
| SAUNDERS BRENT L | $252.0K | — | Mar 6, 2026 |
| Bailey A Robert D | $250.3K | — | Mar 6, 2026 |
| Ross Thomas W. Sr. | $79.6K | — | Mar 3, 2026 |
| ROBERTSON RUSSEL C | $78.8K | — | Feb 20, 2026 |
| Alfonso Eduardo | $77.0K | — | Mar 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 12, 2026 | Trebbi Barbara Director | Award | 11,776 | $0 |
| Aug 12, 2026 | Chersi Robert J Director | Award | 11,776 | $0 |
| Aug 12, 2026 | PAUL LAURENCE E Director | Award | 11,776 | $0 |
| Aug 10, 2026 | Munsch Frederick SVP, Controller and CAO | Sale | 52,900 | $887.7K |
| Aug 7, 2026 | VON ESCHENBACH ANDREW C. Director | Sale | 6,059 | $100.5K |
| Aug 6, 2026 | VON ESCHENBACH ANDREW C. Director | Sale | 12,500 | $206.3K |
| Aug 5, 2026 | Stewart Andrew J. President, GPIC | Award | 16,778 | $0 |
| Aug 5, 2026 | SAUNDERS BRENT L Chairman of the Board and CEO | Tax withheld | 4,231 | $70.9K |
| Aug 5, 2026 | Bonnefoy Luc President, Surgical | Award | 16,778 | $0 |
| Aug 5, 2026 | Eldessouky Sam EVP and CFO | Award | 50,335 | $0 |
| Aug 5, 2026 | Bailey A Robert D EVP & Chief Legal Officer | Award | 33,557 | $0 |
| Aug 5, 2026 | SAUNDERS BRENT L Chairman of the Board and CEO | Award | 281,879 | $0 |
| Aug 5, 2026 | Munsch Frederick SVP, Controller and CAO | Award | 9,091 | $0 |
| Aug 5, 2026 | Hashad Yehia EVP of R&D and CMO | Award | 20,973 | $0 |
| Jun 12, 2026 | Bonnefoy Luc President, Surgical | Tax withheld | 1,008 | $15.2K |
| May 26, 2026 | Alfonso Eduardo Director | Award | 15,842 | $250.0K |
| May 26, 2026 | VON ESCHENBACH ANDREW C. Director | Award | 15,842 | $250.0K |
| May 26, 2026 | ROBERTSON RUSSEL C Director | Award | 15,842 | $250.0K |
| May 26, 2026 | Paulson John Director | Award | 15,842 | $250.0K |
| May 26, 2026 | Ling Karen Director | Award | 15,842 | $250.0K |
| May 26, 2026 | KAVANAGH SARAH B Director | Award | 15,842 | $250.0K |
| May 26, 2026 | Ross Thomas W. Sr. Director | Award | 15,842 | $250.0K |
| May 26, 2026 | Bernier Nathalie D. Director | Award | 15,842 | $250.0K |
| May 26, 2026 | COLLIS STEVEN H Director | Award | 15,842 | $250.0K |
| May 22, 2026 | SAUNDERS BRENT L Chairman of the Board and CEO | Tax withheld | 2,886 | $45.9K |
| May 5, 2026 | Munsch Frederick SVP, Controller and CAO | Tax withheld | 8,673 | $138.8K |
| May 5, 2026 | Eldessouky Sam EVP and CFO | Tax withheld | 63,938 | $1.02M |
| May 5, 2026 | Bonnefoy Luc President, Surgical | Tax withheld | 11,970 | $191.5K |
| May 5, 2026 | Hashad Yehia EVP of R&D and CMO | Tax withheld | 13,664 | $218.6K |
| Apr 30, 2026 | COLLIS STEVEN H Director | Award | 1,415 | $22.5K |
| Apr 30, 2026 | Alfonso Eduardo Director | Award | 1,375 | $21.9K |
| Apr 30, 2026 | ROBERTSON RUSSEL C Director | Award | 1,611 | $25.6K |
| Apr 30, 2026 | Paulson John Director | Award | 1,375 | $21.9K |
| Apr 24, 2026 | Stewart Andrew J. President, GPIC | Tax withheld | 4,216 | $66.7K |
| Apr 24, 2026 | Bailey A Robert D EVP & Chief Legal Officer | Tax withheld | 15,806 | $250.1K |
| Mar 6, 2026 | SAUNDERS BRENT L CEO and Chairman of the Board | Purchase | 14,700 | $252.0K |
| Mar 6, 2026 | Bailey A Robert D EVP & Chief Legal Officer | Award | 14,600 | $0 |
| Mar 6, 2026 | Bailey A Robert D EVP & Chief Legal Officer | Purchase | 14,600 | $250.3K |
| Mar 6, 2026 | SAUNDERS BRENT L CEO and Chairman of the Board | Award | 14,700 | $0 |
| Mar 6, 2026 | Eldessouky Sam EVP and CFO | Award | 4,000 | $0 |
| Mar 6, 2026 | Eldessouky Sam EVP and CFO | Purchase | 4,000 | $68.5K |
| Mar 3, 2026 | Ross Thomas W. Sr. Director | Award | 4,500 | $0 |
| Mar 3, 2026 | Ross Thomas W. Sr. Director | Purchase | 4,500 | $79.6K |
| Mar 2, 2026 | Alfonso Eduardo Director | Award | 4,300 | $0 |
| Mar 2, 2026 | Alfonso Eduardo Director | Purchase | 4,300 | $77.0K |
| Feb 27, 2026 | VON ESCHENBACH ANDREW C. Director | Purchase | 4,364 | $79.9K |
| Feb 27, 2026 | VON ESCHENBACH ANDREW C. Director | Award | 4,364 | $0 |
| Feb 27, 2026 | SAUNDERS BRENT L CEO and Chairman of the Board | Tax withheld | 24,649 | $451.1K |
| Feb 27, 2026 | Eldessouky Sam EVP and CFO | Tax withheld | 15,507 | $283.8K |
| Feb 27, 2026 | Eldessouky Sam EVP and CFO | Tax withheld | 51,470 | $941.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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