Bausch Health Companies Q4 Sales, FY22 Outlook Lag Wall Street View

Bausch Health Companies Inc BHC has reported Q4 revenues of $2.19 billion, down 1% Y/Y, missing the consensus of $2.80 billion.

• Excluding the impact of foreign exchange, divestitures & discontinuations, revenue was flat organically.
• Adjusted net income declined to $463 million from $478 million.
• Adjusted EBITDA reached $909 million, as compared to $911 million.
• Bausch Pharma revenues were $1.195 billion for Q4 FY21, down 6% Y/Y. Excluding the unfavorable impact of foreign exchange of $6 million and the impact of divestitures and discontinuations of $70 million, revenue was flat organically.
• Also See: Bausch Health's Eye-Care Spin-Off Entity Files For $100M IPO.
• Operating income was $367 million as compared to a loss of $(5) million a year ago, primarily driven by lower Other expense and lower loss on assets held for sale and amortization, partially offset higher SG&A expenses primarily due to an increase in separation, separation-related, IPO and IPO-related costs.
• The Company generated $24 million of cash from operations in Q4 FY21.
• Bausch Health reported GAAP EPS of $0.19, a turnaround from a $(0.43) loss a year ago.
• Guidance: For FY22, Bausch Health expects sales of $8.40 billion – $8.60 billion, compared to the consensus of $8.75 billion.
• The Company forecasts adjusted EBITDA of $3.45 billion – $3.60 billion.
• Price Action: BHC shares are 0.23% at $23.55 during the market session on the last check Wednesday.