Bausch + Lomb CEO Brent Saunders on growth outlook: Biggest contributor will be in surgical

Financial Performance & Strategy - The company plans to grow above the market and improve margins by approximately 600 basis points over the next three years [2] - The company aims to achieve a leverage ratio of 3 to 35 times or better by 2028 and obtain an investment-grade credit rating [6] - Tariffs are impacting margins by about 40 basis points, equivalent to approximately $20 million this year [7] Operational Adjustments - The largest contributor to margin expansion will be the surgical business, focusing on higher premium interocular lenses or implants [4] - The company is modernizing its manufacturing footprint to create efficiency in manufacturing and supply chain [5] - Due to reciprocal tariffs, the company is planning to shift some production from the US to Europe and Asia [9][10] - The company is shifting from global manufacturing by product to regional manufacturing [11] Product Development & Market Focus - The company is developing a contact lens designed specifically for children to address myopia, particularly due to increased screen time [18][19][20] - The company views potential future vision-correcting glasses as an opportunity for participation, leveraging its expertise in optic designs [18] M&A Strategy - The company is focusing on small M&A, business development, and licensing, primarily intellectual property for developing medicines or products [6]