Bausch + Lomb Raises 2026 EBITDA Outlook After Profit Jump

The Tip Desk · November 9, 2026 · 3 min read

Adjusted EBITDA excluding acquired IPR&D reached $325 million in the third quarter, and the company lifted full-year 2026 guidance to $1.090 billion–$1.140 billion.

Bausch + Lomb Corporation (BLCO), a global eye health company, reported third-quarter 2026 revenue of $1.375 billion, up 7% from $1.281 billion a year earlier, and raised its full-year 2026 outlook for revenue and adjusted EBITDA excluding acquired in-process research and development.

Reported growth slowed from 9% in both the first and second quarters of 2026. On a constant-currency basis, revenue rose 8% after a $6 million unfavorable foreign-exchange impact.

Chairman and interim CEO Thomas J. Appio said the quarter reflected growth across all three segments and continued expansion in profitability, and that the company had delivered against Investor Day commitments for four consecutive quarters.

Adjusted EBITDA and adjusted EBITDA excluding acquired IPR&D were each $325 million, up $82 million from $243 million a year earlier. Operating income was $155 million, a $60 million increase from $95 million, which the company attributed to revenue growth and operating efficiencies. GAAP net income attributable to Bausch + Lomb was $32 million, versus a $28 million loss a year earlier. Adjusted net income was $123 million. GAAP earnings were $0.09 a share; adjusted earnings were $0.34 a share. Cash flow from operations was $233 million.

Pharmaceuticals remained the fastest-growing reportable segment on a reported basis, with revenue of $367 million, up 11% from $330 million a year earlier. The company said performance was driven by MIEBO growth and increased sales in international pharmaceuticals. MIEBO reported revenue grew 42% to $119 million.

Vision Care, the largest segment, generated $774 million, up 5% reported and 6% constant currency from $736 million. The company said performance was primarily driven by growth from daily SiHy and ULTRA contact lenses, and LUMIFY and Artelac in consumer. LUMIFY reported revenue grew 35%, and the Daily SiHy portfolio grew 24%.

Surgical revenue was $234 million, up 9% reported and constant currency from $215 million a year earlier. The company said performance was primarily driven by growth in the premium IOL portfolio, which grew approximately 70%.

The company said the pipeline was positioned to support growth well into the next decade, with several potential first-in-class assets reaching clinical and regulatory milestones in the third quarter.

As of October 28, 2026, Bausch + Lomb guided full-year 2026 revenue to $5.450 billion–$5.550 billion, or 6.1%–8.0% constant-currency growth, from a July 29 range of $5.440 billion–$5.540 billion, or 5.8%–7.7%. Adjusted EBITDA excluding acquired IPR&D guidance was raised to $1.090 billion–$1.140 billion from $1.025 billion–$1.075 billion. Expected full-year revenue foreign-exchange tailwinds were lowered to $40 million from $45 million. The company said the revenue lift included a $15 million increase in the underlying business outlook, based on continued strong third-quarter performance and anticipated stronger performance for the remainder of 2026, partly offset by a $5 million decrease in expected currency tailwinds as exchange rates moderated.

Cash, cash equivalents and restricted cash were $515 million at September 30, 2026. Diluted weighted average shares outstanding were 361.5 million.