Bausch + Lomb Corp (NYSE:BLCO) Q3 2025 Earnings: EPS Beat and Reaffirmed Guidance Drive Shares Higher

Bausch + Lomb Corporation (NYSE:BLCO) reported financial results for the third quarter of 2025, delivering a performance that was met with a positive market reaction in pre-market trading. The company's results showcased a mixed picture, with a slight revenue miss being overshadowed by a solid beat on profitability and a reaffirmed full-year outlook.

Earnings and Revenue Versus Estimates

The eye health company reported third-quarter revenue of $1.281 billion, which represents a 7% year-over-year increase. This figure came in slightly below the analyst consensus estimate of $1.306 billion. On the bottom line, however, the company outperformed expectations.

• Reported Revenue: $1.281 billion
• Estimated Revenue: $1.306 billion
• Reported Adjusted EPS: $0.18
• Estimated Adjusted EPS: $0.1659

The adjusted earnings per share of $0.18 surpassed analyst forecasts by approximately 11.9%. This profitability beat appears to be the primary driver behind the positive investor sentiment observed in pre-market activity.

Market Reaction

Following the earnings release, BLCO shares saw a notable uptick in pre-market trading, rising approximately 2.6%. This immediate price action suggests that investors are focusing on the company's earnings beat and stable guidance rather than the modest revenue shortfall. The stock's performance over recent weeks has been relatively flat, making this post-earnings jump a significant move.

Quarterly Performance Highlights

The third-quarter results were characterized by broad-based growth and operational improvements. Total revenue grew to $1.281 billion, up from $1.196 billion in the prior year period. On a constant currency basis, the growth was 6%.

A segment breakdown reveals:

• Vision Care: Revenue of $736 million, an 8% increase (6% constant currency), driven by the over-the-counter dry eye portfolio and contact lens growth.
• Surgical: Revenue of $215 million, a 4% increase (1% constant currency), aided by growth in premium intraocular lenses.
• Pharmaceuticals: Revenue of $330 million, an 8% increase (7% constant currency), primarily driven by strong sales of MIEBO.

Operational efficiency was a key theme, with operating income more than doubling to $95 million from $43 million in the same quarter last year. This improvement was attributed to higher sales and operating expense efficiencies. The company reported a GAAP net loss of $28 million, which was primarily due to an increase in income tax provision, while the adjusted net income was a positive $66 million.

Updated Financial Outlook

Bausch + Lomb maintained its full-year 2025 revenue guidance, projecting a range of $5.050 billion to $5.150 billion. This aligns closely with the analyst consensus estimate of $5.188 billion for the year. The company also narrowed the range for its full-year Adjusted EBITDA excluding Acquired IPR&D to $870 million to $910 million, citing strong business performance.

The company's guidance implies a constant currency revenue growth of approximately 5% to 7% for the full year.

Conclusion

Bausch + Lomb's third-quarter results paint a picture of a company executing on its growth strategy, with all business segments contributing to top-line expansion. While revenue slightly missed analyst targets, a significant beat on earnings per share and a reaffirmed, credible full-year outlook have been welcomed by the market. The strong performance in key growth areas like dry eye treatment and premium surgical products, combined with improved operational leverage, provides a solid foundation for the company as it moves toward the end of the fiscal year.

For a detailed look at historical earnings and future estimates for Bausch + Lomb, visit the earnings and estimates page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial advice, or a recommendation to buy or sell any security.