Alcon(US:ALC) Businesswireยท2024-02-27 21:30Core 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]