Alcon Q2 2026: EPS Beats by 11%, Guidance Raised Despite $402M Charge

Alcon reported adjusted diluted EPS of $0.84 for the second quarter of 2026, beating the $0.76 consensus estimate by 11.2%. Net sales of $2.78 billion grew 7.2% year over year and edged past the $2.77 billion estimate. The Surgical segment contributed $1.57 billion, with equipment sales surging 26% on the back of the Unity platform launch, while Vision Care reached $1.21 billion, driven by Tryptyr and Systane dry eye products. Ocular health was a standout within Vision Care, growing 13%.

The headline numbers are complicated by a $402 million pre-tax non-cash impairment charge tied to the discontinuation of the PowerVision accommodative IOL programs, which were scrapped after clinical data revealed unacceptable patient outcomes. That charge — partially offset by a $103 million fair value adjustment to contingent consideration and a $115 million tax benefit — pushed GAAP diluted EPS to $0.00 for the quarter. Core operating income, which strips out such items, grew 17% to $574 million.

Alcon raised its full-year 2026 guidance, lifting core diluted EPS growth to a 12% to 15% constant-currency range, up from the prior 10% to 13%. Core operating margin improvement guidance was also nudged higher to 90 to 190 basis points. The company maintained its net sales growth outlook of 5% to 7% in constant currency, and flagged a full-year tariff impact of $40 million to $90 million net of mitigating actions, assuming U.S. import tariff rates of roughly 10% to 12.5% through year-end. Management was scheduled to discuss results on an earnings call at 8:00 AM ET on Tuesday, August 11.