Alcon(US:ALC) Reuters·2026-02-25 07:26Core Viewpoint - Alcon forecasts sales growth for 2026 in line with market estimates, driven by new product launches and an expected expansion in operating margin, indicating confidence in improved profitability [1]. Sales Growth and Financial Guidance - Alcon anticipates constant-currency sales growth of 5% to 7%, aligning with analysts' average revenue estimate of $11.13 billion [2]. - The company expects tariff-related costs to range between $125 million and $175 million in 2026, after mitigation actions [2]. Market Dynamics - Growth in China is expected to be sensitive to volume-based procurement initiatives and broader economic conditions [3]. - Alcon experienced strong procedural demand in cataract surgery, which is considered a nondiscretionary procedure for aging populations [3]. Quarterly Performance - Surgical sales increased by 9% to $1.55 billion in Q4, with a notable 21% growth in equipment sales due to recent product launches, including the Unity surgery tools platform [4]. - Consumables, which provide recurring revenue, rose by 8% [4]. - The operating margin decreased to 11.6% in the quarter from 15.9% a year earlier, attributed to increased spending on new product launches and higher research-and-development and tariff-related costs [4]. Investor Focus - Investors are likely to monitor whether the growth momentum from products like PanOptix Pro and newer equipment platforms can be sustained through 2026, especially amid supply-chain and pricing pressures [5].