Eyecare company Bausch + Lomb (NYSE: BLCO) will be reporting earnings this Wednesday before the bell. Here’s what to look for.
Bausch + Lomb beat analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $1.28 billion, up 5.1% year on year. It was a satisfactory quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations but a significant miss of analysts’ EPS estimates.
Is Bausch + Lomb a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Bausch + Lomb’s revenue to grow 7% year on year to $1.28 billion, slowing from the 18.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 per share.
Analysts covering the company have generally 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 2.7% on average.
Looking at Bausch + Lomb’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Integer Holdings delivered year-on-year revenue growth of 8.4%, meeting analysts’ expectations, and Intuitive Surgical reported revenues up 22.9%, topping estimates by 3%. Integer Holdings traded down 33.3% following the results while Intuitive Surgical was up 13.9%.
Read our full analysis of Integer Holdings’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 7% on average over the last month. Bausch + Lomb is up 2.7% during the same time and is heading into earnings with an average analyst price target of $15.30 (compared to the current share price of $15.37).
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