Bausch Health reports $49M Q3 loss, raises full-year financial guidance

 

The headquarters of Bausch Health Solutions, formerly known as Valeant Inc., is seen on February 20, 2019 in Laval, Que. Bausch Health Companies Inc. raised its profit and revenue guidance as it reported a US$49-million loss in its latest quarter. The drug company, which keeps its books in U.S. dollar, says it now expects full-year revenue in a range from $8.40 billion to $8.60 billion, up from earlier expectations for revenue between $8.475 and $8.625 billion. THE CANADIAN PRESS/Ryan Remiorz

LAVAL, Que. — Bausch Health Companies Inc. raised its profit and revenue guidance as it reported a US$49-million loss in its latest quarter.

The drug company, which keeps its books in U.S. dollars, says it now expects full-year revenue in a range from $8.475 and $8.625 billion, up from earlier expectations for revenue between $8.40 billion to $8.60 billion.

Full-year adjusted earnings before interest, taxes, depreciation and amortization are expected to be in a range from $3.50 billion to $3.60 billion compared with earlier guidance for between $3.425 billion to $3.575 billion.

The company says the loss amounted to 14 cents per share for the quarter compared with a loss of $350 million or $1.00 per share in the same quarter last year.

On an adjusted basis, Bausch earned net income of $425 million in the quarter compared with $403 million for the third quarter of 2018.

Revenue totalled nearly $2.21 billion, up from nearly $2.14 billion a year ago.

This report by The Canadian Press was first published Nov. 4, 2019.

Companies in this story: (TSX:BHC)

 

 

The Canadian Press

Note to readers: This is a corrected story. An earlier version incorrectly stated the company’s revised guidance.

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