Eyecare company Bausch + Lomb (NYSE: BLCO) will be reporting earnings this Wednesday before market hours. Here’s what investors should know.
Bausch + Lomb missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $1.14 billion, up 3.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and full-year EBITDA guidance missing analysts’ expectations.
Is Bausch + Lomb a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bausch + Lomb’s revenue to grow 2.9% year on year to $1.25 billion, slowing from the 17.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bausch + Lomb has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.2% on average.
Looking at Bausch + Lomb’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Integer Holdings delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 2.6%, and Boston Scientific reported revenues up 22.8%, topping estimates by 3.4%. Integer Holdings traded down 6.3% following the results while Boston Scientific was up 2.9%.
Read our full analysis of Integer Holdings’s results here and Boston Scientific’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Bausch + Lomb is up 11% during the same time and is heading into earnings with an average analyst price target of $14.46 (compared to the current share price of $14.44).
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