Business
Bausch Health Announces Third-Quarter 2022 Results
Revenues of $2.046 billion, down 3% reported, up 2% organic basis Third quarter sales ...
About this update from Bausch Health Companies Inc.
[{"type":"text","content":"Bausch Health Announces Third-Quarter 2022 ResultsRevenues of $2.046 billion, down 3% reported, up 2% organic basisThird quarter sales improved sequentially, notably Salix, International, and SoltaSuccessful debt exchange offer reduces debt by $2.5 billionCompany updates full year guidanceLAVAL, QC / ACCESSWIRE / November 3, 2022 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) (\"Bausch Health\" or the \"Company\" or \"we\" or \"our\") today announced its third-quarter 2022 financial results.\"We are encouraged with the top line improvement in the third quarter, with four out of five segments delivering growth on an organic basis 1 ,\" Thomas J. Appio, Chief Executive Officer, Bausch Health, said.\"The results this quarter demonstrate the resilient demand for our products in the current macro environment. Our recently completed debt exchange offer accelerated our debt reduction and we expect this will provide additional flexibility to invest, innovate and further improve our capital structure over time.\"Strategic Alternatives UpdateThe Company continues to evaluate numerous potential options to maximize stakeholder value. This includes ongoing focus on its balance sheet and liquidity. The Company believes that the distribution of Bausch + Lomb Corporation (\"Bausch + Lomb\") continues to make strategic sense and is thoughtfully evaluating all considerations related to the distribution of Bausch + Lomb.Third Quarter 2022 Revenue PerformanceTotal reported revenues were $2.046 billion for the third quarter of 2022, compared with $2.111 billion in the third quarter of 2021, a decrease of $65 million, or 3%. Excluding the unfavorable impact of foreign exchange of $82 million and the impact of divestitures and discontinuations of $26 million, primarily due to the divestiture of Amoun Pharmaceutical Company S.A.E. on July 26, 2021, revenue increased by 2% organically1 compared with the third quarter of 2021.Reported revenues by segment were as follows: Three Months Ended September 30, Reported Change Change at Constant Currency1(Non-GAAP) Change in Organic Revenue1(Non-GAAP) (in millions) 2022 2021 Amount Pct. Total Bausch Health Revenues $2,046 $2,111 $(65) (3%) 1% 2%Salix segment $544 $527 $17 3% 3% 3%International segment2 $250 $271 $(21) (8%) -% 10%Solta Medical segment2 $72 $74 $(2) (3%) 4% 4%Diversified Products segment2 $238...