Investors Cheer Alcon's Updated Annual Guidance

Alcon AG ALC reported second-quarter FY21 sales of $2.1 billion, +75% Y/Y on a reported basis and +69% on a constant currency basis, beating the consensus of $1.96 billion.
All categories benefited from the improvements in the eye care market, led by the strong recovery in the U.S. and varied paces of recovery in international markets from the COVID-19 pandemic.
It reported a core EPS of $0.56, surpassing the Wall Street estimate of $0.45, and a turnaround from a loss of $(0.21) a year ago.
Surgical net sales doubled to $1.2 billion, primarily driven by improved demand for surgical procedures.
Vision Care's net sales of $0.9 billion increased 49%, or 44% on a constant currency basis.
Core operating income of $382 million, with a margin of 18.2%, mainly driven by higher sales, gross margin, and operating leverage, as sales growth outpaced increases in marketing and selling expenses and research and development.
Guidance FY21: Assuming global markets return to 2019 levels at the end of 2021, Alcon raised its full-year outlook.
Alcon sees FY21 sales of $8 billion - $8.2 billion versus a prior estimate of $7.8 billion -$8 billion, ahead of analysts estimate $7.92 billion.
It sees FY21 core EPS of $2.00 - $2.10, better than $1.85-$1.95 guided previously, and the consensus estimate of $1.93.
Price Action: ALC shares are up 8.49% at $77.42 during the premarket trading session on the last check Wednesday.

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