Bausch + Lomb (BLCO) Matches Q2 Earnings Estimates

Company Overview - Bausch + Lomb is expected to report quarterly earnings of $0.49 per share, reflecting a year-over-year decline of 27.9% [1] - The company posted revenues of $1.22 billion for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 4.11%, compared to $1.04 billion in the same quarter last year [2] - Bausch + Lomb has surpassed consensus revenue estimates four times over the last four quarters [2] Stock Performance - Bausch + Lomb shares have decreased by approximately 1.1% since the beginning of the year, while the S&P 500 has gained 14% [3] - The current estimate revisions trend for Bausch + Lomb is unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [5] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $1.14 billion, and for the current fiscal year, it is $0.63 on revenues of $4.66 billion [13] - The company has surpassed consensus EPS estimates two times over the last four quarters [9] - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [10] Industry Context - The Medical Services industry, to which Bausch + Lomb belongs, is currently ranked in the top 41% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [12]