The following is a summary of the Alcon Inc. (ALC) Q1 2024 Earnings Call Transcript:
Financial Performance:
Alcon Inc. reported Q1 revenue of $2.4 billion, up 7% from previous year.
Core diluted earnings grew by 21% to $0.78 per share and the core operating margin expanded to 22%.
The company is maintaining its full-year core operating margin outlook of 20.5% to 21.5% and core diluted earnings guidance range of $3 to $3.10 per share.
Low-teens growth was experienced in China, primarily driven by consumables and refractive equipment.
Business Progress:
Alcon expects FDA approval for the UNITY VCS phaco machine in the coming months, with plans to upgrade more than 28,000 existing devices to the UNITY platform over the next decade.
Alcon received FDA approval for two innovations that improve the performance of its PanOptix product and made significant investments in contact lenses.
The acquisition of Belkin Vision is planned to close in the third quarter.
In the international market, Alcon continues to gain market share with strong performance in Europe and in China with Vivity and PanOptix products.
They aim to penetrate the ATIOLs market in the future and expand in under-indexed sectors of the contact lens market.
More details: Alcon IR
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