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A Financial Overview of Bausch Health Companies in August

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Revenue trends

Bausch Health Companies (BHC) reported revenue of $2.1 billion in the second quarter, reflecting a ~5% YoY (year-over-year) fall and a ~3% YoY organic rise.

In the first half of 2018, Bausch Health reported revenue of $4.1 billion compared to $4.3 billion in the same period last year.

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Earnings trends

Bausch Health reported net income of -$873 million in the second quarter compared to -$38 million in the same period last year.

In the first half of 2018, Bausch Health reported net income of -$3.45 billion compared to -$590 million in the same period last year.

Bausch Health reported net diluted EPS of -$2.49 in the second quarter compared to -$0.11 in the second quarter of 2017. In the first half of 2018, Bausch Health reported diluted net EPS of -$9.84 compared to -$1.68 in the same period last year.

Expense trends

Bausch Health reported a cost of goods sold (excluding amortization and impairments of intangible assets) of $584 million in the second quarter compared to $635 million in the same period last year.

In the first half of 2018, Bausch Health reported a cost of goods sold (excluding amortization and impairments of intangible assets) of $1.1 billion compared to $1.2 billion in the same period last year.

In the second quarter, Bausch Health reported SG&A (selling, general, and administrative) and R&D (research and development) expenses of $642.0 million and $94.0 million, respectively, compared to $659.0 million and $94.0 million, respectively, in the second quarter of 2017.

In the second quarter and the first half of the year, Bausch Health reported expenses in amortization and intangible assets of $741 million and $1.5 billion, respectively, compared to $623 million and $1.3 billion, respectively, in the comparable periods the previous year.

In the first half of 2018, Bausch Health reported SG&A and R&D expenses of $1.2 billion and $186.0 million, respectively, compared to $1.32 billion and $190 million, respectively, in the same period of the previous year.

Bausch’s biopharmaceutical peers Teva Pharmaceutical (TEVA), Allergan (AGN), and Celgene (CELG) generated revenues of $4.7 billion, $4.1 billion, and $3.8 billion, respectively, in the second quarter.

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