Alcon Inc. · Q1 2025 earnings

Briefing

Alcon delivers flat Q1 sales with 40% EPS jump on investment gains

Alcon reported first quarter 2025 net sales of $2.45 billion, essentially flat versus the prior year on a reported basis and up 3% constant currency, with diluted earnings per share of $0.70 compared with $0.50 a year ago. Net income rose 41% to $350 million, helped by $142 million in fair value gains on investments in associated companies, while operating income increased 27% to $468 million and operating margin expanded to 19.1%. Surgical net sales slipped 1% to $1.33 billion as U.S. implantables faced competitive pressure, but Vision Care grew 1% to $1.12 billion on contact lens innovation. The company generated $384 million of operating cash flow and continued investing in Aurion and Cylite acquisitions during the quarter.

• Net sales were $2.45 billion, flat reported and up 3% constant currency.
• Diluted EPS was $0.70 versus $0.50; core diluted EPS was $0.73 versus $0.73 prior year on a reported basis (down 6% reported, flat cc).
• Operating income rose 27% to $468 million with margin of 19.1%, aided by $142 million investment remeasurement gains.
• Surgical sales fell 1% to $1.33 billion while Vision Care rose 1% to $1.12 billion.
• Operating cash flow was $384 million; investing cash outflows included Aurion and Cylite acquisitions.

Headline financials

Revenue & EPS history