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What’s BHC’s Major Revenue Driver in Fiscal 2019?

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Bausch + Lomb/International segment

In the first quarter, Bausch Health Companies (BHC) reported combined YoY (year-over-year) organic revenue growth of 7% for its Bausch + Lomb/International segment and Salix segment. These businesses accounted for almost 77% of the company’s first-quarter revenues. The Bausch + Lomb/International segment accounted for 55% of the company’s first-quarter revenues.

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Financial performance

In the first quarter, the Bausch + Lomb/International segment reported revenues of $1.12 billion—a rise of 1% YoY (year-over-year) on a reported basis, 8% on an organic basis, and 7% on a CC (constant currency) basis. According to the first-quarter earnings conference call, the performance was driven by strong volume growth across all of the business segments—especially International Rx, Global Consumer, and Global Vision Care. The top ten products in the segment also reported organic revenue growth of 8% YoY in the first quarter.

In the first quarter, the Bausch + Lomb/International segment reported an EBITA of $319 million—a rise of 7% YoY on a reported basis and 13% on a CC basis. The segment reported an EBITA margin of 29%—a rise of 200 basis points YoY, which accounted for 40% of the company’s total EBITA.

In the first quarter, the Global Vision Care segment reported revenues of $203 million—a rise of 4% YoY on a reported basis, 9% on a CC basis, and 9% on an organic basis. The Global Surgical segment reported revenues of $167 million—a decline of 4% YoY on a reported basis, a rise of 3% on a CC basis, and a rise of 4% on an organic basis. The Global Consumer segment reported revenues of $324 million—a decline of 2% YoY on a reported basis, a rise of 4% on a CC basis, and a rise of 6% on an organic basis. The Global Ophtho Rx segment reported revenues of $161 million—a rise of 13% YoY on a reported basis, 16% on a CC basis, and 16% on an organic basis. The International Rx segment reported revenues of $263 million—a rise of 6% YoY on a CC basis and 9% on an organic basis.

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