- Bausch Health Companies Inc (NYSE:BHC) has reported Q1 revenues of $1.92 billion, down 5% Y/Y.
- Excluding the unfavorable impact of foreign exchange of $41 million and divestitures & discontinuations of $72 million, revenue was flat organically compared to Q1 FY21.
- Adjusted net income declined to $263 million from $370 million a year ago. Adjusted EBITDA reached $732 million, as compared to $852 million.
- Bausch Health reported a wider EPS loss of $(0.19) compared to $(1.71) a year ago.
- "Our organic growth in Q1 of 2022 was stable compared to the same quarter last year, despite incremental macro pressures and a challenging supply chain environment," said Thomas Appio, incoming CEO of Bausch Health.
- Related: RBC Capital: What To Expect When Bausch Health Companies Reports Q1 Tomorrow.
- Q1 cash, cash equivalents, restricted cash, and other settlement deposits were $2.46 billion.
- Gross proceeds from the IPO of $630 million and Bausch + Lomb's debt financing of $2.5 billion will be used to reduce Bausch Health's total long-term debt.
- Guidance: For FY22, Bausch Health expects revenue of $8.25 – $8.40 billion, down from previous guidance of $8.40 billion – $8.60 billion.
- The company forecasts adjusted EBITDA of $3.23 – $3.38 billion, compared to the previous guidance of $3.45 billion – $3.60 billion.
- Price Action: BHC shares are down 24.30% at $9.77 during the market session on the last check Tuesday.
