Bausch Health Solvency Remains A Concerns, Analyst Downgrades Stock
On Thursday, Bausch Health Companies (NYSE:BHC) reported a second-quarter 2024 GAAP EPS of $0.03 compared to the consensus of $0.28.
The company reported revenues of $2.403 billion, up 11% year-over-year, beating the consensus of $2.339 billion.
Excluding the impact of foreign exchange of $25 million, acquisitions of $104 million, and divestitures and discontinuations of $14 million, revenue increased by 8% organically compared with the second quarter of 2023.
Guidance: Bausch Health Companies expects 2024 revenues of $9.4 billion-$9.65 billion versus prior guidance of $9.3 billion-$9.55 billion and consensus of $9.397 billion.
The company expects adjusted EBITDA of $3.21 billion-$3.36 billion versus the prior guidance of $3.20 billion-$3.35 billion.
Piper Sandler analyst downgraded Bausch to Underweight from Neutral and lowered its price …
Full story available on Benzinga.com