Q2 26 EPS
$0.15
MISS 6.48%
Est. $0.16
Q2 26 Revenue
$1.39B
BEAT +1.88%
Est. $1.37B
vs S&P Since Q2 26
-7.3%
TRAILING MARKET
BLCO -1.4% vs S&P +5.9%
Market Reaction
Did BLCO Beat Earnings? Q2 2026 Results
Bausch & Lomb delivered a mixed second quarter for fiscal 2026, posting revenue of $1.39 billion, up 9.1% year over year and edging past the $1.37 billion consensus estimate by 1.88%, while adjusted EPS of $0.15 fell just short of the $0.16 consensus… Read more Bausch & Lomb delivered a mixed second quarter for fiscal 2026, posting revenue of $1.39 billion, up 9.1% year over year and edging past the $1.37 billion consensus estimate by 1.88%, while adjusted EPS of $0.15 fell just short of the $0.16 consensus by 6.48%. The headline story, however, was the breadth of operational improvement underneath those numbers: the company swung to GAAP operating income of $83 million from an operating loss of $11 million a year ago, and cash flow from operations surged to $153 million from $35 million. The Surgical segment led the way, with its premium intraocular lens portfolio growing 175% and lifting total Surgical revenue by 19%, while the Pharmaceuticals segment benefited from 27% combined first-half growth in MIEBO and XIIDRA. On the back of that momentum, management raised its full-year 2026 revenue guidance to $5.44 billion to $5.54 billion and nudged adjusted EBITDA higher, though the outlook notably excludes any potential tariff policy impacts, a caveat that underscores the uncertain macro backdrop the company continues to navigate.
Key Takeaways
- • 175% reported revenue growth in premium IOLs, now 13% of total Surgical revenue vs 6% in 2025
- • MIEBO and XIIDRA delivered 27% combined revenue growth in H1 2026 vs H1 2025
- • Growth in daily SiHy, Biotrue ONEday and ULTRA monthly contact lenses
- • Over-the-counter dry eye product sales growth
- • Growth in international pharmaceuticals
- • Operating efficiencies contributing to margin expansion
BLCO Forward Guidance & Outlook
Bausch + Lomb raised its full-year 2026 guidance. Revenue is now expected at $5.440B–$5.540B (previously $5.420B–$5.520B), representing 5.8%–7.7% constant currency growth (up from 5.3%–7.2%). Adjusted EBITDA excluding acquired IPR&D is now expected at $1.025B–$1.075B (previously $1.010B–$1.060B). Full-year revenue foreign exchange tailwinds are estimated at $45M (previously $50M). The guidance increase reflects continued strong Q2 business performance and anticipated stronger performance for the remainder of 2026, partially offset by moderating currency tailwinds. Guidance does not take into consideration any changes in tariff policy.
BLCO YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
BLCO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Broad-based revenue growth, leverage in the P&L, margin expansion and conversion to cash flow. These have been themes since we unveiled our three-year plan for growth at Investor Day last November, and in the second quarter progress continued at an accelerated pace.”
— Brent Saunders, Q2 2026 Earnings Press Release
BLCO Earnings Trends
BLCO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BLCO EPS Trend
Earnings per share: estimate vs actual
BLCO Revenue Trend
Quarterly revenue: estimate vs actual
BLCO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.16 | $0.15 | -6.48% | $1.39B | +1.88% |
| Q1 26 MISS | $0.05 | $0.05 | -6.72% | $1.24B | +2.33% |
| Q4 25 MISS FY | $0.36 | $0.32 | -10.29% | $1.41B | +1.44% |
| FY Full Year | — | $0.43 | — | $5.10B | — |
| Q3 25 BEAT | $0.16 | $0.18 | +11.87% | $1.28B | +0.25% |
| Q2 25 MISS | $0.08 | $0.07 | -16.86% | $1.28B | +1.78% |