Bausch: Q4 Earnings Snapshot
LAVAL, Quebec (AP) _ Bausch Health Companies Inc. (BHC) on Wednesday reported fourth-quarter net income of $69 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Laval, Quebec-based company said it had profit of 19 cents. Earnings, adjusted for one-time gains and costs, were $1.27 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The drugmaker posted revenue of $2.2 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $2.21 billion.
For the year, the company reported that its loss widened to $948 million, or $2.64 per share. Revenue was reported as $8.43 billion.
Bausch expects full-year revenue in the range of $8.4 billion to $8.6 billion.
Bausch shares have dropped 14% since the beginning of the year. The stock has declined 26% in the last 12 months.