SIX$ALC

Alcon Inc. · Q1 2026 earnings

Q1 2026 earnings · · After market close · Investor relations

Briefing

Alcon Q1 2026: $2.7B sales (+10%) led by Unity, Tryptyr and Precision7 launches

Alcon Inc. reported first-quarter 2026 net sales of $2.685 billion, up 10% reported and 6% constant currency versus the prior year, with surgical sales of $1.460 billion (+10% reported, +6% cc) and vision care sales of $1.225 billion (+9% reported, +6% cc). Operating income was $292 million (10.9% margin) compared with $468 million in Q1 2025, which benefited from fair-value gains on associated-company investments; core operating income rose 11% to $569 million (21.2% core margin). Net income was $189 million and diluted EPS was $0.39; core diluted EPS was $0.85 (+16% reported). Growth was driven by new products including Unity VCS/CS, PanOptix Pro, Tryptyr and Precision7, partially offset by efficiency initiative costs, intangible impairments, tariffs and higher R&D. Free cash flow was $279 million. The board approved a CHF 0.28 dividend and a new $1.5 billion three-year share repurchase authorization. Management maintained cc net sales growth guidance of +5% to +7% and raised core diluted EPS growth outlook to +10% to +13% cc.

  • Net sales $2.685B (+10% reported, +6% cc); surgical $1.46B, vision care $1.225B.
  • Diluted EPS $0.39; core diluted EPS $0.85 (+16%).
  • Core operating income $569M at 21.2% margin; reported operating margin 10.9%.
  • Free cash flow $279M; operating cash flow $418M.
  • New $1.5B share repurchase program; FY core EPS outlook raised to +10–13% cc.

Headline financials

Total Revenue

$2.69B

Previous: $2.45B+9.5%
EPS (adj)

$0.85

Previous: $0.73+16.4%
Core Operating Margin

21.2%

No prior period
Free Cash Flow

$279M

No prior period
Net Income

$189M

Previous: $350M-46.0%
Operating Income

$292M

Previous: $468M-37.6%
Gross Profit

$1.53B

Previous: $1.38B+10.3%

Revenue & EPS history

Alcon · Revenue · Quarterly

$2.69B

Q1 2026+9.5%vs Q1 2025
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Alcon · $5.12B total across 6 segments · Q1 2026

  • Surgical
    $1.46B
  • Vision Care
    $1.23B
  • Surgical — Consumables
    $769M
  • Vision Care — Contact lenses
    $738M
  • Vision Care — Ocular health
    $487M
  • Surgical — Implantables
    $438M

Forward guidance

2026 outlook maintains constant-currency net sales growth of +5% to +7% and core operating margin expansion of +70 to +170 bps; core diluted EPS growth updated to +10% to +13% cc.

Tailwinds

  • New product momentum across surgical and vision care
  • Share repurchase authorization
  • Tariff headwind estimate reduced with reinvestment

Headwinds

  • Reported margin pressure from impairments and restructuring
  • Soft cataract market in consumables

Historical earnings impact

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

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2026

Historical avgQ1 2026

+0.7%

Avg return

Earnings day

-1.8%

Avg return

5 days after

-0.5%

Avg return

30 days after

48%

13 / 27 earnings

Positive

+13.0%

Q2 2021

Best reaction

-8.9%

Q2 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%-34.4%
Q3 2025+4.6%-1.0%+1.9%
Q2 2025-8.9%-10.4%-14.3%
Q1 2025+2.4%-4.2%-7.6%
Q3 2024-5.2%-7.7%-7.1%
Q2 2024-1.7%-0.2%+2.2%
Q1 2024+8.9%+8.3%+12.5%
Q4 2023+6.4%+7.7%+3.4%
Q3 2023-2.1%-2.1%+7.0%
Q2 2023-1.6%+1.4%+0.4%
Q1 2023+7.6%+6.0%+5.4%
Q4 2022-3.9%-3.7%-4.8%
Q3 2022+4.1%+3.1%+8.1%
Q2 2022-5.4%-7.9%-10.4%
Q1 2022+8.7%+10.0%+12.7%
Q4 2021+5.0%-0.6%-0.3%
Q3 2021-4.2%-5.9%-1.4%
Q2 2021+13.0%+13.9%+21.9%
Q1 2021-7.8%-7.6%-9.0%
Q4 2020-2.1%-4.4%-3.1%
Q3 2020-1.1%-0.3%-1.8%
Q2 2020-2.9%-4.9%-4.1%
Q1 2020+4.3%+5.0%+7.0%
Q4 2019+4.5%+1.4%-20.2%
Q3 2019-3.5%-3.8%-3.0%
Q2 2019-2.0%-5.1%-4.1%
Q1 2019+2.1%-0.4%-3.3%
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q4 2011
Q3 2010
Q2 2010
Q1 2009
Q1 2010
Q4 2009
Q4 2007
Q3 2009
Q3 2008
Q4 2008
Q2 2008
Q2 2009

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