Q1 2025 Bausch + Lomb Corp Earnings Call Transcript
Key Points
- Bausch & Lomb Corp (BLCO) reported mid-single-digit constant currency revenue growth in the first quarter, aligning with industry growth expectations.
- The Vision Care segment saw a 5% revenue increase, driven by strong performance in both consumer and contact lenses, with Daily SiHy contact lenses growing by 42%.
- The Surgical segment experienced an 11% revenue increase, with premium IOLs contributing significantly to this growth.
- Miebo, a key product in the Pharmaceuticals segment, delivered $57 million in revenue, showing sequential growth of 8% and year-over-year growth of over 100%.
- The company successfully managed a voluntary recall of enVista IOLs, demonstrating strong operational resilience and a commitment to patient safety, with a quick return to market.
- The Pharmaceuticals segment faced challenges, with the US Generics business declining by 23% due to increased competition and lower inventory levels.
- Xiidra, despite strong prescription growth, faced headwinds from higher gross to net deductions, impacting its financial performance.
- The enVista IOL recall is expected to have a one-time negative impact of approximately $55 million on revenue and $65 million on adjusted EBITDA for 2025.
- Tariffs pose a potential headwind of approximately 120 basis points to adjusted EBITDA margin in 2025, with ongoing uncertainty around their impact.
- Currency fluctuations were a headwind, reducing revenue by approximately $19 million and adjusted EBITDA by $7 million in the first quarter.
Good morning, and welcome to Bausch + Lomb's first quarter 2025 earnings call. All participants will be in listen-only mode. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to George Gadkowski, Vice President of Investor Relations and Business Insights. Please go ahead.
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Thank you. Good morning, everyone, and welcome to our first quarter 2025 financial results conference call. Participating on today's call are Chairman and Chief Executive Officer, Mr. Brent Saunders; and Chief Financial Officer, Mr. Sam Eldessouky. In addition to this live webcast, a copy of today's slide presentation and a replay of this conference call will be available on our website under the Investor Relations section.
Before we begin, I would like to remind you that our presentation today contains forward-looking information. We would ask that you take a moment to read the forward
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