Alcon (NYSE: ALC) reported second-quarter 2026 net sales of $2.78 billion, an increase of 8% on a reported basis and 7% on a constant currency basis compared to the same period in 2025, according to a company press release.

Diluted earnings per share were $0.00 for the quarter, down from $0.35 in the prior year period, primarily due to a post-tax, non-cash charge of approximately $287 million related to the company's decision to discontinue intraocular lens programs acquired from PowerVision, Inc. The discontinuation followed analysis of clinical study data showing persistent unpredictable post-surgical visual outcomes. Core diluted earnings per share, a non-IFRS measure, were $0.84, up 11% from $0.76 in the prior year period.

The surgical segment posted net sales of $1.57 billion, up 8% on a reported basis. Equipment and other sales rose 26%, driven by the Unity platform launch. Vision Care net sales were $1.21 billion, up 8%, with ocular health sales rising 13% to $486 million, led by dry eye products including Tryptyr and Systane.

Core operating income was $574 million, up 17% versus the prior year period. Core operating margin was 20.6%, compared to 19.1% in the second quarter of 2025. Reported operating income fell to $11 million from $247 million, reflecting the PowerVision charge.

For the first half of 2026, net sales were $5.47 billion, up 9% on a reported basis. Free cash flow for the six-month period was $693 million, compared to $681 million in the prior year period. The company returned $538 million to shareholders year-to-date through dividends and share repurchases.

Alcon updated its full-year 2026 outlook, raising its core operating margin improvement guidance to 90–190 basis points on a constant currency basis from a prior range of 70–170 basis points, and raising core diluted EPS growth guidance to 12%–15% from 10%–13%, both on a constant currency basis. Net sales growth guidance on a constant currency basis was maintained at 5%–7%. The company expects a full-year tariff impact, net of mitigating actions, of approximately $40 million to $90 million.