Bausch & Lomb Corp

BLCO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$87.00	Ydsrjrd	Qwzxlrjc

Bausch & Lomb Earnings: Gains From Eye Care and Pharma Record Strong Sales and Offset Supply Issues

Keonhee Kim

Aug 2, 2023

Narrow-moat Bausch & Lomb reported second-quarter earnings that were ahead of our expectations. Total sales were up 10% year over year thanks to great performance from its consumer vision care and pharmaceutical businesses. Supply chain issues and unfavorable foreign exchange remain, but these challenges were more than offset by robust growth in Bausch’s base business and promising recovery in China, which was up 24% on constant currency. We maintain our fair value estimate of $26 (CAD 34.50) per share.

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