Business
Bausch Health Announces Third Quarter 2024 Results
Sixth consecutive quarter of year-over-year growth in both Revenue and Adjusted EBITDA (non-GAAP)...
About this update from Bausch Health Companies Inc.
[{"type":"text","content":"Bausch Health Announces Third Quarter 2024 ResultsSixth consecutive quarter of year-over-year growth in both Revenue and Adjusted EBITDA (non-GAAP)1Third quarter consolidated revenues of $2.51 billion, up 12% on a Reported basis and 9% on an Organic (non-GAAP)1 basis, with growth in all segmentsConsolidated GAAP Net Loss Attributable to Bausch Health Companies Inc. of $85 millionConsolidated Adjusted EBITDA Attributable to Bausch Health Companies Inc. (non-GAAP)1 of $909 million, up 10%Raising full-year 2024 guidance LAVAL, QC / ACCESSWIRE / October 30, 2024 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) (\"Bausch Health\" or the \"Company\" or \"we\" or \"our\") today announced its third quarter 2024 financial results and other key updates from the quarter.\"Our team at Bausch Health continued to execute against our commitments in the third quarter, delivering a sixth consecutive quarter of year-over-year growth in both revenue and Adjusted EBITDA. This was accomplished while we continued to advance our R&D pipeline, including the approval and launch of CABTREO® in Canada. These results reflect the strength of our diverse and robust portfolio of products, both geographically and across therapeutic areas,\" said Thomas J. Appio, Chief Executive Officer.Third Quarter 2024 Revenue PerformanceTotal consolidated reported revenues were $2.51 billion for the third quarter of 2024, compared with $2.24 billion in the third quarter of 2023, an increase of $272 million, or 12%. Excluding the impact of foreign exchange of $9 million, acquisitions of $96 million, and divestitures and discontinuations of $16 million, revenue increased by 9% on an organic 1 basis compared with the third quarter of 2023.Reported revenues by segment were as follows: Three Months Ended September 30, Reported Change Change at Constant Currency 1 Change in Organic Revenue 1 (in millions) 2024 2023 Amount Pct. (Non-GAAP) (Non-GAAP) Total Bausch Health Revenues $2,510 $2,238 $272 12% 13% 9% Bausch Health (excl. B+L) $1,314 $1,231 $83 7% 7% 8%Salix segment $642 $614 $28 5% 5% 5%International segment $291 $275 $16 6% 7% 8%Solta Medical segment $112 $83 $29 35% 36% 36%Diversified segment $269 $259 $10 4% 4% 7%Bausch + Lomb segment $1,196 $1,007 $189 19% 19% 10%1 This is a non-GAAP measure or a non-GAAP ratio. For further information on non-GAAP measures an...