Bausch + Lomb Corp

Bausch & Lomb delivered a mixed first quarter for fiscal 2026, posting adjusted EPS of $0.05 against a consensus estimate of $0.05, a shortfall of 6.72%, even as revenue climbed 9.4% year over year to $1.24 billion. The more compelling story, however, was the company's sharp operational turnaround: operating income swung to $33 million from an operating loss of $83 million a year ago, while the GAAP net loss narrowed substantially to $71 million from $212 million, reflecting stronger top-line leverage and disciplined cost management including lower SG&A. The Pharmaceuticals segment was the primary engine of that improvement, growing 14% as reported on the strength of MIEBO and XIIDRA, which expanded 33% and 30% respectively. A weaker U.S. dollar provided an additional $42 million tailwind to revenue. Encouraged by the quarter's performance, management raised full-year 2026 revenue guidance to a range of $5.42 billion to $5.52 billion and lifted adjusted EBITDA guidance to $1.01 billion to $1.06 billion, with analysts at H.C. Wainwright maintaining a Buy rating and $20 price target on the stock.