BHC · BAUSCH HEALTH CO Q2 FY2026 earnings call record财报电话会记录

“First, we grew revenue 16% and adjusted EBITDA 28%, our highest growth for both metrics in the last three years.”

“Second, we generated historical high of 59% adjusted EBITDA margin, up 530 basis points year-over-year.”

“Finally, Solta had another outstanding quarter, with revenue up 38% and segment profit up 69%, illustrating for the first time the expected margin accretion associated with the integration of our full service distributor in China.”

“Our Q2 performance is a strong testament to the sustainable value we have strived to generate for our stakeholders, patients, customers, and employees.”

“Adjusted gross margin was 72.9%, which was 230 basis points higher year-over-year.”

“It is important to note that our portfolio, excluding the Salix segment, grew revenue and segment profit respectively 12% and 19% year-over-year.”

“Total retail scripts, excluding Medicaid, were up 4%, while extended units, excluding Medicaid, were down 2% year-over-year, reflecting the reduction of volume associated with 340B institutions.”

“Now moving to the international segments.”

“Even if we adjust for revenue seasonality and expense phasing, management believe that the full-year run rate for Solta segment profit now stands at approximately $330 million, which is approximately a $100 million increase where compared to 2025.”

“More specifically, we are increasing the midpoint of our full-year guidance by $100 million for revenue, $150 million for adjusted EBITDA, and $200 million for adjusted cash flow from operations.”

“As a result, the new guidance for the full year now stands as follows: Revenue is expected to be between $5,350,000,000 and $5,500,000,000.”

“When you look at the international side we are continuing to do tuck-in type acquisitions in our branded generic businesses in EMEA and Latin America.”