Bausch Health reports better Q2 results, raises 2019 estimated revenue, earnings

Bausch Health reports better Q2 results, raises 2019 estimated revenue, earnings
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LAVAL, Que. — Bausch Health Companies Inc. had a smaller net loss in the second quarter and says it now expects 2019 revenue and adjusted earnings will be higher than the previous estimate.

The Quebec-headquartered company, which reports in U.S. dollars, says its second-quarter net loss attributable to shareholders was $170 million, reduced from $872 million a year earlier.

Bausch attributed the improvement to better operating results, lower interest expenses and a smaller loss on debt repayments.

The net loss amounted to 49 cents per share, down from $2.49 per share in last year’s second quarter.

Adjusted earnings (excluding taxes and other items) improved to $880 million from $868 million a year earlier.

Bausch’s second-quarter revenue was $2.15 billion, up one per cent from a year earlier due to its Salix business segment.

Analysts had estimated $2.14 billion of revenue, according to financial markets data firm Refinitiv.

The company now estimates full-year revenue will be about $500 million higher than its previous outlook of between $8.4 billion and $8.6 billion.

It also raised its adjusted earnings range by $25 million to between $3.425 billion and $3.575 billion.

Companies in this story: (TSX:BHC)

The Canadian Press

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