Bausch Health Co. Inc. (NYSE: BHC) reported Q3 EPS of $, versus $1.04 reported last year. Revenue for the quarter came in at $2.14 billion versus the consensus estimate of $2.02 billion.

• Third-Quarter 2020 Financial Results
  • Revenues of $2.138 Billion
  • GAAP Net Income of $71 Million
  • Adjusted EBITDA (non-GAAP) 1 of $948 Million
  • GAAP Cash Generated from Operations of $256 Million
• Reaffirmed 2020 Full-Year Revenue and Adjusted EBITDA (non-GAAP) Guidance Ranges

"Bausch Health's third-quarter 2020 results clearly demonstrate our recovery from the COVID-19 pandemic is in progress. In the third quarter, total company reported revenue grew 28% sequentially from the second quarter. Many of our durable brands are well-positioned to grow market share and return to growth, however, some of our prescription products are taking longer to return to pre-pandemic levels," said Joseph C. Papa, chairman and CEO, Bausch Health. "Throughout the pandemic, we have carefully managed our expenses, have prioritized our resources strategically, such as enhancing our e-commerce capabilities, and have maintained ample supply of our health care products for our customers and patients, and we will continue to do what's right for all our stakeholders."

"We are also making good progress on our intention to separate our eye health business into an independent public company. As we look toward the future, we are excited about several new pipeline opportunities we are pursuing in areas of critical unmet medical need within eye health, including myopia, dry eye disease and age-related macular degeneration," continued Mr. Papa.

GUIDANCE:

Bausch Health Co. Inc. sees FY2020 revenue of $7.8-8 billion, versus the consensus of $7.89 billion.

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