The following is a summary of the Bausch + Lomb Corporation (BLCO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Bausch + Lomb reported Q1 revenue of $1.099 billion, up 20% in constant currency, with all business segments contributing to this growth.

• Vision Care, Surgical, and Pharmaceuticals revenue stood at $635 million (up 11%), $197 million (up 8%), and $267 million (up 66%) respectively, all in constant currency.

• The company's adjusted gross margin for Q1 increased by 320 basis points year-over-year to 63.2%.

• Adjusted EBITDA for the Q1 was $180 million, representing growth of 28% compared to Q1 2023.

• Positive cash flow was reported with $48 million from operations.

• Gross margin improved to 63% largely due to the acquisition of the high-margin product, Xiidra.

Business Progress:

• Bausch + Lomb celebrated almost a year of substantial progress under the current CEO, with solid plans for the remainder of the year.

• The firm is focusing on improving manufacturing & sales procedures, fostering innovation, and planning to make significant hires for the R&D team throughout 2024.

• New products are in the pipeline including Blink NutriTears, a nutritional supplement for dry eye sufferers.

• Premium IOL launches are planned for 2026 to strengthen the surgical portfolio.

• The company has successfully integrated the sales forces of Miebo and Xiidra, with positive initial results.

• The company continues to focus on Miebo and Xiidra and plans to scale up these products throughout the year.

• Promising growth has been seen in the Daily SiHy contact lens franchise with further global launches expected.

• Multiple strategic investments, R&D collaborations, and technological upgrades are also planned, ensuring a steady flow of innovation for upcoming years.

More details: Bausch + Lomb Corp. IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.