Alcon, Inc. (NYSE:ALC) Q4 2023 Earnings Conference Call February 28, 2024 5:30 PM ET Company Participants Daniel Cravens - Vice President and Global Head, Investor Relations David Endicott - Chief Executive Officer Tim Stonesifer - Chief Financial Officer Conference Call Participants Veronika Dubajova - Citi Ryan Zimmerman - BTIG Susannah Ludwig - Bernstein Anthony Petrone - Mizuho Group David Saxon - Needham & Company Larry Biegelsen - Wells Fargo Brett Fishbin - KeyBanc Capital Markets Tom Stephan - Stife ...

Alcon, Inc. (ALC) delivered core earnings per share (EPS) of 70 cents in the fourth quarter of 2023, up 66.7% from the year-ago quarter’s figure (up 78% at the constant exchange rate or CER). The figure topped the Zacks Consensus Estimate by 2.9%. Alcon’s “core” results are based on non-IFRS (International Financial Reporting Standards) measures.In the fourth quarter, the company’s diluted EPS was 86 cents compared to a loss of 20 cents per share in the prior-year quarter.For the full year, the core EPS was ...

For the quarter ended December 2023, Alcon (ALC) reported revenue of $2.33 billion, up 8.2% over the same period last year. EPS came in at $0.70, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.34 billion, representing a surprise of -0.22%. The company delivered an EPS surprise of +2.94%, with the consensus EPS estimate being $0.68.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...

Core Insights - Alcon reported strong financial results for Q4 and full year 2023, with Q4 sales reaching $2.3 billion, an 8% increase year-over-year on a reported basis and a 10% increase on a constant currency basis [1][3] - The company achieved diluted earnings per share of $0.86 for Q4 2023, a significant recovery from a loss of $0.20 in the same quarter of the previous year [2][12] - Alcon's CEO highlighted the successful completion of a transformation program and the advancement of its product pipeline, indicating optimism for continued growth in 2024 [1][3] Financial Performance - Q4 2023 net sales were $2,332 million, compared to $2,155 million in Q4 2022, while full year sales increased to $9,370 million from $8,654 million [2][3] - Operating margin for Q4 2023 was 8.9%, up from 1.0% in Q4 2022, and full year operating margin was 11.1%, an increase from 7.8% the previous year [2][11] - Core diluted earnings per share for Q4 2023 was $0.70, a 67% increase from $0.42 in Q4 2022 [2][12] Segment Performance - Surgical segment sales for Q4 2023 were $1.4 billion, reflecting a 6% increase on a reported basis and 8% on a constant currency basis [5][7] - Vision Care segment sales reached $980 million in Q4 2023, an 11% increase on a reported basis and 13% on a constant currency basis [5][8] - The growth in Vision Care was driven by strong demand for contact lenses and ocular health products, with contact lenses sales increasing by 9% and ocular health by 14% [8][9] Future Outlook - For 2024, Alcon expects net sales to be between $9.9 billion and $10.1 billion, representing a growth of 6% to 8% compared to the previous year [14][15] - The company anticipates core operating margin to be between 20.5% and 21.5% for 2024 [14] - Proposed dividend of CHF 0.24 per share is set to be voted on at the 2024 Annual General Meeting [12]

Core Insights - Alcon is facing significant cost pressures due to inflation in electronic components, freight, labor, resins, and plastics, which are negatively impacting the company's margins [1] - The ophthalmology industry is highly competitive, with Alcon encountering challenges from both large manufacturers and small specialized producers, as well as alternative medical therapies from pharmaceutical companies [1][2] - In the vision care segment, Alcon is experiencing intense competition, particularly in the contact lens market, where new entrants from Asia are threatening market share [2] Group 1: Surgical Business - Alcon's Surgical business benefits from a diverse portfolio and ongoing innovation, with one in three intraocular lens (IOL) implants globally being Alcon products, and one in two premium lenses being Alcon's [3] - The company's flagship lenses, Vivity and PanOptix, are leading in the U.S. and globally, with expansion opportunities in markets like China [3] Group 2: Vision Care Business - Alcon is achieving solid growth in its Vision Care segment, driven by strong sales of contact lenses and ocular health products, outpacing market growth in new product categories [4] - The company is seeing increased interest in specialty lenses, including multifocal and toric options, with successful clinical outcomes reported for its DAILIES Total1 product line [4]

[Operating Performance](index=2&type=section&id=Operating%20Performance) Alcon's 2023 operating performance saw significant growth in net sales and income, driven by strong segment contributions and improved operating leverage [Key Figures](index=2&type=section&id=Key%20Figures) Alcon reported substantial growth in Q4 and full-year 2023 net sales and income, with core diluted EPS increasing by 22% Full Year 2023 vs 2022 Performance Summary | ($ millions unless indicated otherwise) | 2023 | 2022 | Change % | Change % (cc) | | :--- | :--- | :--- | :--- | :--- | | **Net sales to third parties** | 9,370 | 8,654 | 8 | 10 | | **Operating income** | 1,039 | 672 | 55 | 77 | | **Net income** | 974 | 335 | 191 | 243 | | **Diluted earnings per share ($)** | 1.96 | 0.68 | 188 | 241 | | **Core operating income** | 1,849 | 1,571 | 18 | 27 | | **Core net income** | 1,360 | 1,108 | 23 | 34 | | **Core diluted earnings per share ($)** | 2.74 | 2.24 | 22 | 33 | Fourth Quarter 2023 vs 2022 Performance Summary | ($ millions unless indicated otherwise) | 2023 | 2022 | Change % | Change % (cc) | | :--- | :--- | :--- | :--- | :--- | | **Net sales to third parties** | 2,332 | 2,155 | 8 | 10 | | **Operating income** | 208 | 21 | nm | nm | | **Net income/(loss)** | 427 | (97) | nm | nm | | **Diluted earnings/(loss) per share ($)** | 0.86 | (0.20) | nm | nm | | **Core operating income** | 440 | 353 | 25 | 34 | | **Core net income** | 345 | 209 | 65 | 79 | | **Core diluted earnings per share ($)** | 0.70 | 0.42 | 67 | 78 | [Net Sales by Segment](index=3&type=section&id=Net%20Sales%20by%20Segment) Full-year 2023 net sales grew 8% to $9.4 billion, primarily driven by strong Vision Care segment performance and growth in Surgical Consumables and Equipment Net Sales by Segment - Full Year 2023 vs 2022 | ($ millions) | 2023 | 2022 | Change % | Change % (cc) | | :--- | :--- | :--- | :--- | :--- | | **Total Surgical** | **5,314** | **5,045** | **5** | **8** | | Implantables | 1,703 | 1,725 | (1) | 2 | | Consumables | 2,719 | 2,499 | 9 | 11 | | Equipment/other | 892 | 821 | 9 | 12 | | **Total Vision Care** | **4,056** | **3,609** | **12** | **14** | | Contact lenses | 2,400 | 2,192 | 9 | 11 | | Ocular health | 1,656 | 1,417 | 17 | 19 | | **Net sales to third parties** | **9,370** | **8,654** | **8** | **10** | - Full-year Vision Care sales growth of **12%** included a **4%** contribution from products acquired in 2022. Ocular health sales grew **17%**, including **10%** from acquired products[11](index=11&type=chunk)[12](index=12&type=chunk) - Full-year Surgical sales growth was driven by a **9%** increase in Consumables and a **9%** increase in Equipment/other, reflecting favorable market conditions and strong demand in international markets[10](index=10&type=chunk)[12](index=12&type=chunk) [Operating Income](index=5&type=section&id=Operating%20Income) Full-year 2023 operating income surged 55% to $1.0 billion, driven by higher sales, efficiencies, and a contingent liability release, expanding core operating margin to 19.7% Operating Income Summary - Full Year 2023 vs 2022 | ($ millions unless indicated otherwise) | 2023 | 2022 | Change % | Change % (cc) | | :--- | :--- | :--- | :--- | :--- | | **Gross profit** | 5,247 | 4,748 | 11 | 14 | | **Operating income** | 1,039 | 672 | 55 | 77 | | **Operating margin (%)** | 11.1 | 7.8 | - | - | | **Core operating income** | 1,849 | 1,571 | 18 | 27 | | **Core operating margin (%)** | 19.7 | 18.2 | - | - | - The increase in full-year operating income was attributed to improved operating leverage from higher sales and manufacturing efficiencies. The current year also benefited from a **$58 million** release of a contingent liability related to a recent acquisition[17](index=17&type=chunk)[18](index=18&type=chunk) - Fourth-quarter operating income was **$208 million**, a significant increase from **$21 million** in the prior year, largely due to improved operating leverage, lower transformation costs, and the absence of a **$70 million** legal settlement cost that impacted the prior year[14](index=14&type=chunk) [Segment Contribution](index=7&type=section&id=Segment%20Contribution) Full-year 2023 segment contribution increased to $2.2 billion, with Vision Care showing substantial 30% growth and margin expansion due to operating leverage Segment Contribution - Full Year 2023 vs 2022 | ($ millions unless indicated otherwise) | 2023 | 2022 | Change % | Change % (cc) | | :--- | :--- | :--- | :--- | :--- | | **Surgical segment contribution** | 1,454 | 1,336 | 9 | 17 | | As % of net sales | 27.4 | 26.5 | - | - | | **Vision Care segment contribution** | 777 | 600 | 30 | 37 | | As % of net sales | 19.2 | 16.6 | - | - | - Surgical segment contribution margin for the full year increased due to improved operating leverage from higher sales and manufacturing efficiencies, partially offset by a product mix shift and currency impacts[27](index=27&type=chunk) - Vision Care segment contribution margin for the full year expanded due to improved operating leverage, though partially offset by increased R&D investment following the Aerie acquisition and inflationary impacts[28](index=28&type=chunk) [Non-operating Income & Expense](index=9&type=section&id=Non-operating%20Income%20%26%20Expense) Full-year 2023 net income surged 191% to $974 million, driven by higher operating income and a significant tax benefit from a Swiss tax agreement Non-operating Results - Full Year 2023 vs 2022 | ($ millions unless indicated otherwise) | 2023 | 2022 | Change % | | :--- | :--- | :--- | :--- | | **Operating income** | 1,039 | 672 | 55 | | **Interest expense** | (189) | (134) | (41) | | **Other financial income & expense** | (18) | (75) | 76 | | **Income before taxes** | 832 | 463 | 80 | | **Taxes** | 142 | (128) | nm | | **Net income** | 974 | 335 | 191 | - A tax benefit of **$142 million** was recorded for the full year, primarily driven by a **$263 million** discrete tax benefit associated with a long-term agreement with Swiss tax authorities (the "2023 Swiss Tax Agreement")[44](index=44&type=chunk) - Full-year interest expense increased by **41%** to **$189 million**, reflecting increased financial debts following the Aerie acquisition in late 2022 and less favorable interest rates[42](index=42&type=chunk) - Core net income for the full year increased **23%** to **$1.4 billion**, resulting in core diluted EPS of **$2.74**, up from **$2.24** in the prior year[48](index=48&type=chunk) [Liquidity and Capital Resources](index=11&type=section&id=Liquidity%20and%20Capital%20Resources) Alcon's liquidity and capital resources are strong, with increased operating cash flow, stable net debt, and consideration of external economic factors [Cash Flow](index=11&type=section&id=Cash%20Flow) Net cash flows from operating activities increased to $1.4 billion in 2023, while investing activities decreased significantly due to fewer major acquisitions - Net cash flows from operating activities rose to **$1.4 billion** in 2023, up from **$1.2 billion** in 2022, due to increased collections from higher sales and lower short-term incentive payments[50](index=50&type=chunk) - Net cash flows used in investing activities decreased to **$1.1 billion** in 2023 from **$1.9 billion** in 2022. The prior year included significant cash outflows for the acquisitions of Aerie, Ivantis, and other products[53](index=53&type=chunk)[54](index=54&type=chunk) - Net cash flows used in financing activities were **$211 million** in 2023, mainly for dividends paid to shareholders, compared to a use of **$8 million** in the prior year[55](index=55&type=chunk) [Free Cash Flow (non-IFRS measure)](index=12&type=section&id=Free%20Cash%20Flow%20(non-IFRS%20measure)) Free cash flow, a non-IFRS measure, increased to $730 million in 2023, driven by higher operating cash flows despite increased capital expenditures Free Cash Flow Reconciliation | ($ millions) | 2023 | 2022 | | :--- | :--- | :--- | | Net cash flows from operating activities | 1,388 | 1,217 | | Purchase of property, plant & equipment | (658) | (636) | | **Free cash flow** | **730** | **581** | [Balance Sheet](index=12&type=section&id=Balance%20Sheet) As of December 31, 2023, total assets increased to $29.6 billion, with total equity rising to $20.6 billion, influenced by tax agreement benefits - Total assets were **$29.6 billion** as of Dec 31, 2023. Current assets increased by **$454 million**, driven by higher inventories to meet demand and increased cash and trade receivables[60](index=60&type=chunk)[79](index=79&type=chunk) - Total liabilities decreased to **$9.0 billion** from **$9.5 billion**. Non-current liabilities fell by **$240 million**, mainly due to a **$267 million** decrease in deferred tax liabilities related to the Swiss tax agreement[61](index=61&type=chunk)[79](index=79&type=chunk) - Total equity increased by **$947 million** to **$20.6 billion** compared to year-end 2022[63](index=63&type=chunk) [Net Debt/Liquidity (non-IFRS measure)](index=13&type=section&id=Net%20(debt)%2Fliquidity%20(non-IFRS%20measure)) Net debt slightly decreased to $3.6 billion as of December 31, 2023, with financial debt having a long average maturity and fixed interest rates Net Debt Calculation | ($ millions) | At Dec 31, 2023 | At Dec 31, 2022 | | :--- | :--- | :--- | | Total financial debt | (4,739) | (4,648) | | Less: Total liquidity | 1,096 | 988 | | **Net (debt)** | **(3,643)** | **(3,660)** | - The average maturity of financial debt is **10.7 years**, with **97%** at fixed interest rates[66](index=66&type=chunk) - In October 2023, the company refinanced its revolving credit facility to a new **$1.32 billion** facility maturing in five years, which remained undrawn as of year-end[67](index=67&type=chunk) [Additional Considerations](index=14&type=section&id=Additional%20Considerations) External factors such as the Israel-Hamas war, supply chain inflation, and foreign currency fluctuations pose potential impacts on the company's business - **Israel-Hamas War:** While sales and assets in Israel are not material, the company notes the risk of the conflict expanding and having further global impacts[69](index=69&type=chunk) - **Supply Chain Inflation:** The company has experienced inflationary pressures in labor, utilities, freight, and raw materials. It expects gross margin to be impacted in coming quarters as higher-cost inventory is sold[70](index=70&type=chunk) - **Foreign Currencies:** As a US Dollar reporting company, Alcon is exposed to foreign currency fluctuations, primarily in Euros, Japanese Yen, and Chinese Renminbi[71](index=71&type=chunk) [Condensed Consolidated Interim Financial Statements](index=15&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) This section presents the unaudited condensed consolidated interim financial statements, detailing income, comprehensive income, balance sheet, equity changes, and cash flows [Consolidated Income Statement](index=15&type=section&id=Consolidated%20Income%20Statement) The Consolidated Income Statement presents key financial performance metrics, including revenues, costs, and profits, for the periods ended December 31, 2023 and 2022 Consolidated Income Statement (unaudited) | ($ millions except earnings/(loss) per share) | Twelve months ended Dec 31, 2023 | Twelve months ended Dec 31, 2022 | | :--- | :--- | :--- | | Net sales to third parties | 9,370 | 8,654 | | Gross profit | 5,247 | 4,748 | | Operating income | 1,039 | 672 | | Income before taxes | 832 | 463 | | Net income | 974 | 335 | | Diluted earnings per share ($) | 1.96 | 0.68 | [Consolidated Statement of Comprehensive Income/(Loss)](index=16&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income%2F(Loss)) This statement details changes in equity from non-owner sources, including net income and other comprehensive income items like currency translation effects Consolidated Statement of Comprehensive Income/(Loss) (unaudited) | ($ millions) | Twelve months ended Dec 31, 2023 | Twelve months ended Dec 31, 2022 | | :--- | :--- | :--- | | Net income | 974 | 335 | | Other comprehensive income/(loss) | (10) | 104 | | **Total comprehensive income** | **964** | **439** | [Consolidated Balance Sheet](index=17&type=section&id=Consolidated%20Balance%20Sheet) The Consolidated Balance Sheet provides a snapshot of the company's financial position, detailing assets, liabilities, and equity as of December 31, 2023 and 2022 Consolidated Balance Sheet (unaudited) | ($ millions) | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total assets** | **29,614** | **29,165** | | Total non-current assets | 23,967 | 23,972 | | Total current assets | 5,647 | 5,193 | | **Total liabilities** | **8,990** | **9,488** | | Total non-current liabilities | 6,510 | 6,750 | | Total current liabilities | 2,480 | 2,738 | | **Total equity** | **20,624** | **19,677** | [Consolidated Statement of Changes in Equity](index=18&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) This statement reconciles beginning and ending equity balances, detailing effects of net income, other comprehensive income, dividends, and equity-based compensation Consolidated Statement of Changes in Equity (unaudited) | ($ millions) | 2023 | 2022 | | :--- | :--- | :--- | | **Balance at January 1** | **19,677** | **19,256** | | Net income | 974 | 335 | | Other comprehensive income/(loss) | (10) | 104 | | Dividends | (117) | (102) | | Equity-based compensation | 86 | 68 | | Other movements | 14 | 16 | | **Balance at December 31** | **20,624** | **19,677** | [Consolidated Statement of Cash Flows](index=19&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) The Consolidated Statement of Cash Flows details cash inflows and outflows from operating, investing, and financing activities for the periods ended December 31, 2023 and 2022 Consolidated Statement of Cash Flows (unaudited) | ($ millions) | Twelve months ended Dec 31, 2023 | Twelve months ended Dec 31, 2022 | | :--- | :--- | :--- | | Net cash flows from operating activities | 1,388 | 1,217 | | Net cash flows used in investing activities | (1,094) | (1,865) | | Net cash flows used in financing activities | (211) | (8) | | Effect of exchange rate changes | 31 | 61 | | **Net change in cash and cash equivalents** | **114** | **(595)** | | Cash and cash equivalents at January 1 | 980 | 1,575 | | **Cash and cash equivalents at December 31** | **1,094** | **980** | [Notes to Condensed Consolidated Interim Financial Statements](index=20&type=section&id=Notes%20to%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This section provides detailed notes on significant transactions, income taxes, legal proceedings, acquisitions, and subsequent events impacting the financial statements [Note 2. Significant Transactions](index=22&type=section&id=Note%202.%20Significant%20transactions) This note details significant 2022 transactions, including major acquisitions of Aerie, Eysuvis/Inveltys, and Ivantis, along with senior note issuances - In November 2022, Alcon acquired Aerie Pharmaceuticals for a total purchase consideration of **$744 million**, funded by a bridge loan facility[97](index=97&type=chunk) - In July 2022, Alcon acquired Eysuvis and Inveltys ophthalmic eye drops from Kala Pharmaceuticals for **$60 million** upfront, plus potential milestone payments[99](index=99&type=chunk) - In January 2022, Alcon acquired Ivantis, Inc., manufacturer of the Hydrus Microstent, for an upfront consideration of **$479 million**, plus potential milestone payments[101](index=101&type=chunk) [Note 4. Income Taxes](index=25&type=section&id=Note%204.%20Income%20taxes) This note explains significant tax events, including a $263 million Swiss tax agreement benefit and the anticipated 1-2% effective tax rate increase from OECD Pillar Two rules - In Q4 2023, Alcon entered a long-term agreement with Swiss tax authorities, resulting in a discrete tax benefit of **$263 million**[115](index=115&type=chunk) - The OECD's Pillar Two minimum **15%** tax rate is expected to impact Alcon's financial results from January 1, 2024, onward, with an estimated **1% to 2%** increase in the effective tax rate[117](index=117&type=chunk)[118](index=118&type=chunk) [Note 10. Legal Proceedings Update](index=32&type=section&id=Note%2010.%20Legal%20proceedings%20update) This note updates on legal matters, including the JJSVI patent settlement, conclusion of the Asia/Russia investigation, and ongoing Hatch-Waxman patent litigation - The JJSVI patent dispute was resolved via a confidential settlement, which included a one-time payment of **$199 million** from Alcon to JJSVI on April 3, 2023[163](index=163&type=chunk) - The Asia/Russia investigation concluded, and the three-year Deferred Prosecution Agreement (DPA) with the DOJ expired on June 25, 2023. The related criminal charge was dismissed with prejudice[164](index=164&type=chunk) - Alcon is actively defending its patents in Hatch-Waxman litigation against generic drug companies for products including Simbrinza, Rhopressa, and Rocklatan, with trials scheduled for 2024 and 2025[167](index=167&type=chunk)[169](index=169&type=chunk) [Note 11. Acquisitions](index=34&type=section&id=Note%2011.%20Acquisitions) This note details the finalization of the Aerie acquisition's purchase price allocation, resulting in a goodwill adjustment and the release of a $58 million contingent liability Aerie Acquisition Final Purchase Price Allocation | ($ millions) | Preliminary PPA | Measurement period adjustments | Final PPA | | :--- | :--- | :--- | :--- | | Net identifiable assets acquired | 679 | 44 | 723 | | Goodwill | 65 | (44) | 21 | | **Total purchase consideration** | **744** | **—** | **744** | - A contingent liability of **$58 million** related to the Aerie acquisition was released in Q3 2023 and recognized in Other Income following the resolution of an uncertainty[174](index=174&type=chunk) [Note 13. Subsequent Events](index=35&type=section&id=Note%2013.%20Subsequent%20events) Subsequent to year-end, the Board proposed a CHF 0.24 per share dividend for fiscal year 2023, subject to shareholder approval at the upcoming Annual General Meeting - On February 27, 2024, the Board proposed a dividend of **CHF 0.24 per share**, subject to shareholder approval. If approved, the total payment would be approximately **$137 million**[176](index=176&type=chunk) [Supplementary Information - Definitions and Reconciliations of Non-IFRS Measures](index=36&type=section&id=Supplementary%20Information%20-%20Definitions%20and%20Reconciliations%20of%20Non-IFRS%20Measures) This section defines and reconciles Alcon's non-IFRS financial measures, including core results, constant currency growth, and free cash flow, to their IFRS equivalents [Non-IFRS Measures as Defined by the Company](index=36&type=section&id=Non-IFRS%20Measures%20as%20Defined%20by%20the%20Company) Alcon defines and utilizes non-IFRS measures like core results, constant currency growth, and free cash flow to provide a clearer view of underlying business performance - **Core results:** Exclude amortization of intangible assets, certain acquisition-related items, legal items, restructuring costs, and other exceptional items over a **$10 million** threshold[180](index=180&type=chunk) - **Constant currencies:** Calculates growth by translating current year foreign currency results into US dollars using the prior year's average exchange rates to eliminate currency fluctuation impacts[184](index=184&type=chunk)[185](index=185&type=chunk) - **Free cash flow:** Defined as net cash flows from operating activities less cash flow for the purchase or sale of property, plant, and equipment[187](index=187&type=chunk) [Reconciliation of IFRS Results to Core Results (non-IFRS measure)](index=38&type=section&id=Reconciliation%20of%20IFRS%20results%20to%20core%20results%20(non-IFRS%20measure)) This section provides a detailed reconciliation from reported IFRS results to the company's non-IFRS 'core' results for both the fourth quarter and full year Full Year 2023 IFRS to Core Reconciliation | ($ millions) | IFRS results | Amortization | Transformation costs | Other items | Core results | | :--- | :--- | :--- | :--- | :--- | :--- | | Gross profit | 5,247 | 663 | — | 7 | 5,917 | | Operating income | 1,039 | 675 | 139 | (4) | 1,849 | | Net income | 974 | 554 | 113 | (281) | 1,360 |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F | ☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 | | --- | --- | | | OR | | ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 | | | OR | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ | OR ☐ ...

Analysts on Wall Street project that Alcon (ALC) will announce quarterly earnings of $0.68 per share in its forthcoming report, representing an increase of 61.9% year over year. Revenues are projected to reach $2.34 billion, increasing 8.5% from the same quarter last year.The current level reflects a downward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over ...

GENEVA--(BUSINESS WIRE)--Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, today announced positive topline results from the two pivotal Phase 3 clinical trials (COMET-2 and COMET-3) evaluating the efficacy and safety of AR-15512, a candidate treatment for the signs and symptoms of dry eye disease (DED). In both COMET-2 and COMET-3, which enrolled more than 930 dry eye subjects in total (randomized 1:1 to AR-15512 or vehicle control), the primary endpoint o ...

Alcon Inc. (NYSE:ALC) Q3 2023 Earnings Call Transcript November 15, 2023 8:00 AM ET Company Participants Dan Cravens - Vice President and Global Head, Investor Relations David Endicott - Chief Executive Officer Tim Stonesifer - Chief Financial Officer Conference Call Participants Patrick Wood - Morgan Stanley Veronika Dubajova - Citi Larry Biegelsen - Wells Fargo Daniel Buchta - ZKB Ryan Zimmerman - BTIG Anthony Petrone - Mizuho Group Jeff Johnson - Baird Graham Doyle - UBS Operator Greetings and welcome to ...