The raised guidance and accelerating growth in Surgical and Pharmaceuticals are positive signals. Monitor the Q3 earnings call for updates on the enVista Beyond IOL regulatory submission and any impact from tariffs on the supply chain. The adjusted EPS miss is minor and likely overshadowed by the strong top-line beat and guidance raise.
Price Chart
Executive Summary
Bausch + Lomb reported Q2 2026 revenue of $1.394B (+9% YoY), slightly above consensus of $1.37B, and adjusted EPS of $0.15, slightly below the $0.16 consensus. The company raised its full-year 2026 revenue guidance to $5.440B-$5.540B and Adjusted EBITDA guidance to $1.025B-$1.075B, citing broad-based growth across all segments, particularly Surgical (+19%) and Pharmaceuticals (+15%). The GAAP net loss narrowed to $14M from $62M a year ago, and operating cash flow improved to $153M from $35M. The stock is likely to move modestly higher on the raised guidance and strong operational momentum, though the adjusted EPS miss tempers the upside.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $1.394B, up 9% YoY (8% constant currency), vs consensus $1.37B
- Adjusted EPS of $0.15 vs consensus $0.16 (miss by ~6%)
- GAAP net loss narrowed to $14M from $62M YoY; operating income of $83M vs a loss of $11M
- Full-year 2026 revenue guidance raised to $5.440B-$5.540B (from $5.420B-$5.520B)
- Full-year 2026 Adjusted EBITDA guidance raised to $1.025B-$1.075B (from $1.010B-$1.060B)
- Surgical segment revenue surged 19% (16% constant currency), driven by premium IOLs
- Pharmaceuticals revenue grew 15% (14% constant currency), led by MIEBO and XIIDRA
- Operating cash flow improved to $153M from $35M YoY
- enVista Beyond IOL pivotal study met several co-primary endpoints, though narrowly missed some performance targets
Financial Impact
Revenue beat consensus by ~$24M (1.8%); adjusted EPS missed by $0.01; raised FY guidance by $20M at midpoint
Risk Factors
- enVista Beyond IOL narrowly missed some performance targets, potentially delaying or complicating regulatory submission
- Foreign exchange tailwinds are expected to moderate ($45M vs $50M previously)
- GAAP net loss persists, though narrowing
- Tariff policy remains dynamic and could impact 2026 guidance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001860742-26-000086 |
| Document: blco-20260729.htm | 0001860742-26-000086 |
| Document: 0001860742-26-000086-index-headers.html | 0001860742-26-000086 |
| Document: 0001860742-26-000086-index.html | 0001860742-26-000086 |
| Document: 0001860742-26-000086.txt | 0001860742-26-000086 |
| 8-K Data (Synthetic) | 0001860742-26-000086 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | 3 / CLUSTER | $17.00 $17.23 | ▲ +1.35% | ▲ +3.33% | $17.11 (+0.65%) |
Aug 14, 2026 7w ago | 3 | $17.00 $17.23 | ▲ +1.35% | ▲ +3.33% | $17.11 (+0.65%) |
Aug 14, 2026 7w ago | 3 | $17.00 $17.23 | ▲ +1.35% | ▲ +3.33% | $17.11 (+0.65%) |
Aug 12, 2026 7w ago | Insider Cluster | $16.98 $17.25 | ▲ +1.59% | ▲ +3.34% | $17.11 (+0.77%) |
Aug 12, 2026 7w ago | Insider Cluster | $16.98 $17.25 | ▲ +1.59% | ▲ +3.34% | $17.11 (+0.77%) |
Aug 7, 2026 8w ago | 144 | $16.83 $17.73 | ▲ +5.35% | ▲ +6.26% | $17.11 (+1.66%) |
Aug 6, 2026 8w ago | 144 | $16.35 $18.14 | ▲ +10.95% | ▲ +10.35% | $17.11 (+4.65%) |
Aug 6, 2026 8w ago | 8-K | $16.35 $18.14 | ▲ +10.95% | ▲ +10.35% | $17.11 (+4.65%) |
Jul 29, 2026 9w ago | 8-K | $16.20 $17.25 | ▲ +6.48% | ▲ +1.46% | $17.11 (+5.62%) |
Feb 27, 2026 31w ago | Insider Cluster | $18.30 $15.37 | ▼ −16.01% | ▼ −8.45% | $17.11 (−6.50%) |
US Market Status
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