Alcon Q2 Earnings Meet Estimates, Revenues Increase Y/Y

Alcon, Inc. (NYSE: ALC) delivered core earnings per share of 74 cents in the second quarter of 2024, up 7.2% from the year-ago quarter’s figure (up 15% at the constant exchange rate or CER). The figure came in line with the Zacks Consensus Estimate.

Alcon reports ‘core’ results based on non-IFRS (International Financial Reporting Standards) measures. In the second quarter, the company’s diluted EPS was 45 cents, up 32.4% year over year.

Revenues in Detail

Alcon’s net sales to third parties in the second quarter were $2.48 billion, which missed the Zacks Consensus Estimate by 1.4%. However, the top line increased by 3.3% from the year-ago quarter’s levels (up 6% at CER).

Quarter in Detail

Alcon reports operations through two segments — Surgical (comprising Implantables, Consumables and Equipment/Other) and Vision Care (comprising Contact Lenses and Ocular Health).

Surgical

In the second quarter of 2024, Surgical sales amounted to $1.42 billion, up 3% year over year and 6% at CER. Our model projected the segment’s growth to be 3.5% versus the prior year.

Within this, net sales in Implantables increased 6%, led by the demand for advanced technology intraocular lenses in international markets. Our model projected 3.1% year-over-year growth.

Consumables increased 3%, mainly driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases. Our model’s projection was an increase of 4.9%.

Equipment/Other was down 3% from the prior-year quarter’s levels. Our model forecast stood at 0.1% growth.

Vision Care

The segment reported total sales of $1.11 billion, up 7% year over year on a reported basis and 10% at CER. Our model’s projection was 6.7% …

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