Bausch Health reports US$145 million loss in the second quarter, lowers guidance

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LAVAL, Que. — Bausch Health Companies Inc. reported a loss of US$145 million in its latest quarter compared with a loss of US$595 million a year earlier.

The company, which keeps its books in U.S. dollars, says the loss amounted to earnings per share of 40 cents for the quarter ended June 30, compared to US$1.66 last year.

Revenue for the quarter totalled US$1.97 billion, down from US$2.1 billion last year.

Bausch Health says its adjusted net income for the second quarter of 2022 was US$201 million, down from US$352 million for the second quarter of 2021.

Bausch Health updated its consolidated guidance for 2022, adjusting full-year revenue expectations to between US$8.05 billion and US$8.22 billion compared to prior guidance of US$8.25 billion to US$8.40 billion.

Bausch Health says it remains committed to spinning off its eye health business Bausch + Lomb, which reported revenues of US$941 million for the second quarter, compared to US$934 million in 2021.

This report by The Canadian Press was first published Aug. 9, 2022.

Companies in this story: (TSX:BHC)

The Canadian Press