[Q2 2024 Financial & Operational Highlights](index=1&type=section&id=Q2%202024%20Financial%20%26%20Operational%20Highlights) Bausch Health achieved strong Q2 2024 results with 11% revenue growth and a 10% increase in Adjusted EBITDA, leading to raised full-year guidance [Overall Performance Summary](index=1&type=section&id=Overall%20Performance%20Summary) Bausch Health achieved strong Q2 2024 results with 11% revenue growth and a 10% increase in Adjusted EBITDA, leading to raised full-year guidance | Metric | Q2 2024 | Change (YoY) | | :--- | :--- | :--- | | Consolidated Revenues | $2.40 billion | +11% Reported, +8% Organic | | GAAP Net Income Attributable to BHC | $10 million | - | | Adjusted EBITDA (non-GAAP) | $798 million | +10% | - The company raised its full-year 2024 guidance for both consolidated revenue and Adjusted EBITDA (non-GAAP)[3](index=3&type=chunk) - This marks the fifth consecutive quarter of year-over-year growth in both revenues and adjusted EBITDA, highlighting sustained momentum[4](index=4&type=chunk) [Detailed Financial Performance](index=1&type=section&id=Detailed%20Financial%20Performance) Consolidated revenues grew 11% to $2.40 billion, driven by broad-based segment contributions, notably Bausch + Lomb and Solta Medical [Revenue Performance by Segment](index=1&type=section&id=Revenue%20Performance%20by%20Segment) Consolidated revenues grew 11% to $2.40 billion, driven by broad-based segment contributions, notably Bausch + Lomb and Solta Medical | Segment | Q2 2024 Revenue (millions) | Reported Change (YoY) | Organic Change (YoY) | | :--- | :--- | :--- | :--- | | **Total Bausch Health** | **$2,403** | **11%** | **8%** | | Bausch Health (excl. B+L) | $1,187 | 5% | 6% | | Salix | $558 | 0% | 1% | | International | $276 | 7% | 6% | | Solta Medical | $102 | 16% | 19% | | Diversified | $251 | 10% | 12% | | Bausch + Lomb | $1,216 | 17% | 10% | [Salix Segment](index=2&type=section&id=Salix%20Segment) Salix segment revenue remained flat at $558 million, as Xifaxan® growth was offset by declines in other products, resulting in 1% organic growth - **Xifaxan®** revenues grew **10%** year-over-year, but this was offset by declines in other products, resulting in flat reported revenue for the segment[6](index=6&type=chunk) [International Segment](index=2&type=section&id=International%20Segment) The International segment reported a 7% revenue increase to $276 million, with 6% organic growth driven by strong performance in Canada and Latin America - Organic revenue growth of **6%** was led by strong performance in Canada (**double-digit growth**) and Latin America[6](index=6&type=chunk) [Solta Medical Segment](index=2&type=section&id=Solta%20Medical%20Segment) Solta Medical achieved strong results with a 16% reported revenue increase to $102 million and 19% organic growth, primarily from Asia-Pacific - The segment's **19% organic growth** was driven by strong performance in the Asia-Pacific region, with South Korea being a key contributor[6](index=6&type=chunk) [Diversified Segment](index=2&type=section&id=Diversified%20Segment) The Diversified segment's revenue grew 10% to $251 million, with 12% organic growth driven by higher sales in Dermatology and Neurology - Organic revenue increased by **12%**, primarily due to sales growth in Dermatology and Neurology[7](index=7&type=chunk) [Bausch + Lomb Segment](index=2&type=section&id=Bausch%20%2B%20Lomb%20Segment) The Bausch + Lomb segment achieved a significant 17% reported revenue increase to $1,216 million, with 10% organic growth across all business units - The segment achieved **10% organic revenue growth**, with positive contributions from all business units[7](index=7&type=chunk) [Profitability and Cash Flow](index=2&type=section&id=Profitability%20and%20Cash%20Flow) Operating income decreased to $389 million due to higher expenses, but Adjusted EBITDA grew 10% to $798 million, and operating cash flow significantly increased to $380 million | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Operating Income | $389 million | $412 million | | Net Income Attributable to BHC | $10 million | $26 million | | Adjusted Net Income (non-GAAP) | $328 million | $300 million | | GAAP EPS | $0.03 | $0.07 | | Adjusted EBITDA (non-GAAP) | $798 million | $727 million | | Cash Provided by Operating Activities | $380 million | $206 million | - The decrease in operating income was primarily due to higher selling, advertising, and promotion expenses, which offset the benefit of higher revenues[7](index=7&type=chunk) [Balance Sheet and Liquidity](index=3&type=section&id=Balance%20Sheet%20and%20Liquidity) Bausch Health maintained a solid liquidity position with $595 million in cash and $1.07 billion in available revolving credit, focusing on debt reduction - Key liquidity highlights as of June 30, 2024 include: - Consolidated cash and cash equivalents of **$595 million**. - Bausch Health (excl. B+L) had ~**$950 million** available under its 2027 revolving credit facility. - Bausch + Lomb had ~**$120 million** available under its revolving credit facility[10](index=10&type=chunk) - The company is actively evaluating strategies to reduce outstanding debt and improve its debt maturity profile[10](index=10&type=chunk) [Business & Strategic Updates](index=3&type=section&id=Business%20%26%20Strategic%20Updates) This section covers key updates on Xifaxan® intellectual property defense and progress in the company's R&D pipeline [Xifaxan® Intellectual Property Update](index=3&type=section&id=Xifaxan%C2%AE%20Intellectual%20Property%20Update) Bausch Health secured a legal victory affirming Xifaxan® 550 mg generic exclusivity until October 2029 and filed new patent infringement lawsuits - A Federal Circuit court ruling affirmed that the FDA cannot approve Norwich's first generic ANDA for **Xifaxan® 550 mg** tablets until **October 2029**[11](index=11&type=chunk) - The company has filed new patent infringement lawsuits against Norwich (for an amended ANDA) and Amneal related to their attempts to market a generic version of **Xifaxan® 550 mg**[12](index=12&type=chunk) [R&D Pipeline Update](index=3&type=section&id=R%26D%20Pipeline%20Update) The R&D pipeline is advancing with a Phase 3 protocol for Amiselimod, ongoing RED-C studies, and regulatory progress for aesthetic devices - Key pipeline developments include: - **Amiselimod**: Draft protocol for **Phase 3** trial in moderate to severe UC submitted to the FDA. - **RED-C**: Both global **Phase 3** studies are in the treatment phase. - **Clear + Brilliant® Touch**: Approved in Australia and the Philippines in **Q2**. - **Next Generation Fraxel®**: FDA submission is complete, with potential approval in **H2 2024**[12](index=12&type=chunk)[13](index=13&type=chunk) [2024 Financial Outlook](index=4&type=section&id=2024%20Financial%20Outlook) Bausch Health updated its full-year 2024 financial guidance, raising expectations for consolidated revenues and Adjusted EBITDA [Updated Full-Year Guidance](index=4&type=section&id=Updated%20Full-Year%20Guidance) Bausch Health raised its full-year 2024 financial guidance for consolidated revenues and Adjusted EBITDA, reflecting strong first-half performance | Guidance (in Billions) | BHC (Consolidated) | BHC (excl. B+L) | B+L | | :--- | :--- | :--- | :--- | | **Revenues** | $9.400 - $9.650 | $4.700 - $4.850 | $4.700 - $4.800 | | **Adjusted EBITDA (non-GAAP)** | $3.21 - $3.36 | $2.36 - $2.46 | $0.85 - $0.90 | [Appendix: Financial Tables](index=11&type=section&id=Appendix%3A%20Financial%20Tables) The appendix provides detailed unaudited financial statements, reconciliations of GAAP to non-GAAP measures, and other financial information [Detailed Financial Statements and Reconciliations](index=11&type=section&id=Detailed%20Financial%20Statements%20and%20Reconciliations) This section presents detailed unaudited financial statements, including Consolidated Statements of Operations and reconciliations of GAAP to non-GAAP measures - The appendix includes the following key financial tables: - Consolidated Statements of Operations (unaudited). - Reconciliation of Net Income (GAAP) to Adjusted Net Income (non-GAAP). - Reconciliation of Net Income (GAAP) to Adjusted EBITDA (non-GAAP). - Calculation of Organic Revenue Growth (non-GAAP) by segment. - Other Financial Information, including cash and debt obligations[30](index=30&type=chunk)[31](index=31&type=chunk)[35](index=35&type=chunk)

Core Viewpoint - Bausch Health Companies is facing significant challenges, including rumors of potential bankruptcy, which have negatively impacted its stock price and investor confidence [2][4][16] Financial Performance - Bausch Health reported a cash balance of $733 million as of the end of the last quarter, a significant increase from $48 million in September 2022 [7] - The company holds long-term debt of $21.536 billion, a slight decrease from $22.358 billion in September 2021, indicating ongoing debt concerns [9] - Cash flow remains weak, with positive net earnings reported in only four quarters since September 2021 [10] Stock Market Reaction - Following a rumor of bankruptcy on July 24, 2024, Bausch Health's stock price fell by 23.25%, closing at $5.81 after reaching a low of $4.02 during the day [4][16] - The stock had previously shown signs of recovery, bottoming at $6.00 before the rumor surfaced [4] Earnings Outlook - Analysts have a weak earnings per share outlook for Bausch Health, with the company missing expectations in its Q1 report [12] - The consensus estimate for the upcoming quarter is an EPS of $0.88, reflecting a year-over-year growth of 8.54% [14] - Recent revisions show a D- grade for earnings revisions, with many analysts lowering their fiscal year forecasts [12][14] Growth Prospects - Bausch Health is focusing on growth opportunities in its Xifaxan product and the Solta Medical unit, but faces challenges due to limited resources and weak cash flow [15] - The company is also looking to expand its international presence, particularly in Canada, while navigating a slowing Chinese economy [15]

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Bausch Health Companies Inc. (Exact name of registrant as specified in its charter) 2150 St. Elzéar Blvd. West, Laval, Québec, Canada H7L 4A8 (Address of Principal Executive Offices) (Zip Code) Title of each class Trading Symbol(s) Name o ...

Bausch Health Companies [BHC] Q1 2024 Earnings Conference Call May 2, 2024 8:00 AM ET Company Participants Thomas Appio - CEO John Barresi - Interim CFO Garen Sarafian - IR Conference Call Participants Glen Santangelo - Jefferies Michael Nedelcovych - TD Cowen Douglas Miehm - RBC Capital Markets Umer Raffat - Evercore ISI Chi Fong - Bank of America David Amsellem - Piper Sandler Les Sulewski - Truist Securities Operator Greetings. Welcome to the Bausch Health first quarter 2024 earnings call. At this time, ...

Bausch Health (BHC) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -21.33%. A quarter ago, it was expected that this drugmaker would post earnings of $1.01 per share when it actually produced earnings of $1.15, delivering a surprise of 13.86%.Over the last four quarters, the company ...

BAUSCH- Health EARNINGS 1 Q 2024 MAY 2, 2024 Forward-Looking Statements This presentation contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements relating to Bausch Health Companies Inc.'s ("Bausch Health" or the "Company") future prospects and performance, financial guidance, research and development efforts and anticipated timing or results thereof, proposed plan to separat ...

Exhibit 99.1 CH-Health "We are also pleased with other key developments for our business during the quarter, including the appeal decision in the Norwich matter in respect of Xifaxan®, which represents a significant milestone as it relates to achieving the full separation of Bausch + Lomb. • RED-C: prevention and delay of first episode of hepatic encephalopathy ◦ Enrollment of the second global Phase 3 trial completed in April 2024. Enrollment of both global Phase 3 studies are now complete and currently in ...

Bausch Health (BHC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power o ...

The shares of pharma stock Bausch Health Companies Inc (NYSE:BHC) have taken a tumble since their recent April 3 nearly two-year high of $11.46. Starting off this week on a sour note with a 6.9% loss -- BHC's worst daily percentage drop since September -- the stock is looking to extend its slide today, down 2.5% at $9.03 at last glance. For those curious about buying in on the dip, however, the recent pullback has BHC within one standard deviation of its 50-day moving average, a trendline with historically ...

Bausch Health (BHC) , along with its gastroenterology business, Salix Pharmaceuticals, Inc., announced that it has filed a lawsuit against Amneal Pharmaceuticals (AMRX) and its subsidiaries.The lawsuit was filed on the heels of the Notice of Paragraph IV Certification, stating that Amneal submitted an abbreviated new drug application (ANDA) to the FDA seeking approval to market a generic version of Salix’s lead drug Xifaxan (rifaximin) 550 mg tablets.Xifaxan 550 mg tablets are indicated for the reduction in ...