Eyecare company Bausch + Lomb (NYSE: BLCO) will be reporting earnings this Wednesday before market hours. Here’s what to expect.
Bausch + Lomb beat analysts’ revenue expectations last quarter, reporting revenues of $1.24 billion, up 9.4% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is Bausch + Lomb a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bausch + Lomb’s revenue to grow 7.2% year on year, improving from the 5.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bausch + Lomb rarely misses Wall Street’s revenue estimates.
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. Intuitive Surgical delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 2.5%, and Abbott Laboratories reported revenues up 13%, topping estimates by 0.7%. Intuitive Surgical traded down 14.1% following the results while Abbott Laboratories was up 12.8%.
Read our full analysis of Intuitive Surgical’s results here and Abbott Laboratories’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Bausch + Lomb is down 2.3% during the same time and is heading into earnings with an average analyst price target of $18.14 (compared to the current share price of $16.25).
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