NYSE$BHC

Bausch Health Companies Inc · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Announced second-quarter 2020 financial results, which were meaningfully impacted by the COVID-19 pandemic.

Bausch Health reported revenues of $1.664 billion for Q2 2020, a decrease of 23% compared to Q2 2019, primarily due to the impact of the COVID-19 pandemic. The company had a GAAP net loss of $326 million and an adjusted EBITDA of $622 million. They also narrowed their 2020 full-year revenue and adjusted EBITDA guidance ranges.

  • Revenues of $1.664 Billion; Meaningfully Impacted by the COVID-19 Pandemic
  • GAAP Net Loss of $326 Million
  • Adjusted EBITDA (non-GAAP) of $622 Million
  • GAAP Cash Generated from Operations of $200 Million

Headline financials

Total Revenue

$1.66B

Previous: $2.15B-22.7%
EPS (adj)

$0.46

Previous: $1.07-57.0%
Adjusted EBITDA

$622M

Previous: $880M-29.3%
Capital Expenditures

-$141M

Previous: -$109M-29.4%
Free Cash Flow

-$466M

Previous: -$279M-67.0%
Net Income

-$325M

Previous: -$170M-91.2%
Operating Income

-$27M

Previous: $257M-110.5%
Gross Profit

$1.17B

Previous: $0.00
Cash & Equivalents

$896M

Previous: $878M+2.1%
Total Assets

$31.4B

Previous: $32.4B-3.0%
Stock-Based Comp

$27M

No prior period

Revenue & EPS history

Bausch Health · Revenue · Quarterly

$1.66B

Q2 2020-22.7%vs Q2 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Bausch Health · $1.66B total across 4 segments · Q2 2020

  • Bausch + Lomb/International
    $883M-26.9%
  • Salix
    $404M-20.6%
  • Diversified Products
    $261M-16.6%
  • Ortho Dermatologics
    $116M-4.9%

Forward guidance

Bausch Health tightened its revenue and Adjusted EBITDA (non-GAAP) guidance ranges for the full year of 2020, primarily due to the actual and anticipated impacts of the COVID-19 pandemic.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2020

Historical avgQ2 2020

+0.2%

Avg return

Earnings day

-0.6%

Avg return

5 days after

-1.9%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+30.6%

Q1 2017

Best reaction

-21.5%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+10.9%+0.9%-4.1%
Q4 2025-4.5%-2.7%-19.1%
Q3 2025+12.4%+14.2%+7.6%
Q1 2025+0.0%-10.6%-14.5%
Q4 2024+10.3%+15.8%+10.0%
Q3 2024+12.7%+13.5%+2.6%
Q2 2024-6.6%-10.6%-1.7%
Q1 2024-10.6%-15.3%-25.0%
Q4 2023+5.9%+5.9%+10.3%
Q3 2023+6.9%+2.4%+4.0%
Q2 2023-2.9%-4.6%-9.3%
Q1 2023-21.2%-20.8%+11.2%
Q4 2022+10.8%+7.8%-16.3%
Q3 2022+7.5%+8.4%+21.4%
Q2 2022-3.3%+2.9%+14.7%
Q1 2022-21.5%-16.0%-35.0%
Q4 2021-1.9%+1.9%-3.3%
Q3 2021-4.5%-1.9%-17.8%
Q2 2021-15.5%-10.1%-0.7%
Q1 2021-10.8%-10.6%+0.9%
Q4 2020-0.9%+0.6%-1.8%
Q3 2020-3.1%-4.0%+11.0%
Q2 2020-7.2%-9.2%-16.3%
Q1 2020-1.8%+0.2%+12.4%
Q4 2019-5.8%-7.3%-51.3%
Q3 2019+0.8%+1.1%+10.6%
Q2 2019-4.0%-3.0%-6.9%
Q1 2019+8.7%+8.0%-9.0%
Q4 2018-6.7%-7.3%-2.0%
Q3 2018+6.1%+6.4%-5.2%
Q2 2018+5.4%-2.9%-7.3%
Q1 2018+11.5%+14.8%+37.4%
Q4 2017-17.5%-16.8%-13.9%
Q3 2017+23.6%+27.7%+46.4%
Q2 2017-8.5%-9.6%-12.9%
Q1 2017+30.6%+40.0%+36.6%
Q4 2016-18.7%-21.8%-33.7%
Q3 2016-15.9%-5.9%-19.3%
Q2 2016+21.7%+11.0%+33.5%
Q1 2016-17.1%-16.3%-18.6%
Q4 2015-7.4%
Q3 2015-17.4%
Q2 2015+5.4%
Q1 2015+5.6%
Q4 2014+14.7%
Q3 2014+8.5%
Q2 2014-6.1%
Q1 2014-1.6%
Q4 2013-1.0%
Q3 2013+2.0%
Q2 2013+6.2%
Q1 2013+1.8%
Q4 2012+1.3%
Q3 2012-2.6%
Q2 2012+2.2%
Q1 2012+2.1%
Q4 2008+6.3%
Q4 2010+6.3%
Q4 2011+6.3%
Q3 2011-2.9%
Q2 2011+3.9%
Q1 2010+0.0%
Q1 2011+6.3%
Q3 2010-5.4%
Q3 2009-5.4%
Q2 2009+2.0%
Q2 2010+2.0%
Q4 2009+2.0%

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