Highlights

  • Bausch + Lomb reported third-quarter 2026 revenue of $1.375 billion, compared with $1.281 billion in the third quarter of 2025.
  • GAAP net income attributable to the company was $32 million, compared with a $28 million loss a year earlier.
  • Full-year 2026 revenue guidance is $5.450 billion to $5.550 billion, updated from $5.440 billion to $5.540 billion on July 29.
  • Cash, cash equivalents and restricted cash were $515 million at quarter end, and operating cash flow was $233 million.

Bausch + Lomb Corporation (NYSE:BLCO) shares were trading at USD 19.56 on October 28, 2026, up 11.01%, with a relative volume at time of 7.74. The eye health company reported third-quarter 2026 results on October 28 and updated its full-year 2026 revenue and adjusted EBITDA guidance.

Bausch + Lomb is incorporated in Canada and lists its principal executive offices in Vaughan, Ontario. The company describes itself as a global eye health company. Its products span contact lenses, prescription products, over-the-counter options and surgical devices. It reports results across three segments: Vision Care, Surgical and Pharmaceuticals. Its fiscal year ends December 31. The release also refers to a proposed plan to separate Bausch + Lomb from the remainder of Bausch Health Companies Inc.

Third-Quarter 2026 Results

Total reported revenue was $1.375 billion for the third quarter of 2026, compared with $1.281 billion in the third quarter of 2025, an increase of $94 million, or 7%. Excluding a foreign exchange impact of $6 million, revenue increased by approximately 8% on a constant currency basis, a non-GAAP measure.

Vision Care revenue was $774 million, Surgical revenue was $234 million and Pharmaceuticals revenue was $367 million. Operating income was $155 million, compared with $95 million in the third quarter of 2025.

Net income attributable to Bausch + Lomb Corporation was $32 million, compared with a $28 million loss a year earlier. GAAP basic and diluted earnings per share were $0.09, compared with ($0.08). On a non-GAAP basis, adjusted net income was $123 million, or $0.34 per share, compared with $66 million, or $0.18 per share. Adjusted EBITDA was $325 million, compared with $243 million.

The company reported MIEBO revenue growth of 42% to $119 million. It reported LUMIFY revenue growth of 35% and premium IOL revenue growth of approximately 70%.

Cash Flow and Balance Sheet

Cash flow from operations was $233 million for the third quarter, compared with $137 million a year earlier. Cash, cash equivalents and restricted cash were $515 million at September 30, 2026.

Basic weighted average shares outstanding for the quarter were 357.6 million, and diluted weighted average shares outstanding were 361.5 million. On the call, management said free cash flow was $178 million and net leverage was 4.1x, compared with 5.7x a year earlier. Management said it targets net leverage of 3.5x, a goal set at its Investor Day.

Pipeline and Management Commentary

On the call, management said it had delivered against its Investor Day commitments for four consecutive quarters.

The company said several potential first-in-class assets reached clinical and regulatory milestones in the third quarter. On the call, the chief medical officer said the FDA encouraged the clinical program for tonabersat, an oral treatment for dry age-related macular degeneration, and that a pharmacokinetic safety study is planned to start at the beginning of next year. Management also said it expects to launch the next generation of LUMIFY in the first half of 2027.

2026 Financial Outlook

As of October 28, 2026, the company expects full-year revenue of $5.450 billion to $5.550 billion, compared with $5.440 billion to $5.540 billion as of July 29, 2026. It expects constant currency revenue growth of 6.1% to 8.0%, compared with 5.8% to 7.7% previously.

The company expects full-year adjusted EBITDA excluding acquired IPR&D, a non-GAAP measure, of $1.090 billion to $1.140 billion, compared with $1.025 billion to $1.075 billion previously. It expects foreign exchange tailwinds of $40 million to full-year revenue, compared with $45 million previously, and nominal tailwinds to adjusted EBITDA.

The company said the revenue change reflects a $15 million increase in the underlying business outlook, partly offset by a $5 million decrease in expected currency tailwinds.