VAUGHAN, Ontario—Global eye health company Bausch + Lomb Corporation (NYSE/TSX: BLCO) yesterday announced its second quarter 2026 financial results and updated its 2026 full-year guidance. Total reported revenue was $1.394 billion for the second quarter of 2026, compared with $1.278 billion in the second quarter of 2025, an increase of $116 million, or 9 percent. Excluding the favorable impact of foreign exchange of $12 million, revenue increased by approximately 8 percent on a constant currency basis compared with Q2 of 2025. All segments reported growth, led by double-digit revenue increases in surgical and pharmaceuticals, while vision care grew by 4 percent.
“Broad-based revenue growth, leverage in the P&L, margin expansion and conversion to cash flow. These have been themes since we unveiled our three-year plan for growth at Investor Day last November, and in the second quarter progress continued at an accelerated pace,” said Brent Saunders, chairman and CEO, Bausch + Lomb.
During the second quarter of 2026, the Vision Care segment generated $784 million in revenue, representing a 4 percent increase of $31 million compared with $753 million in the second quarter of 2025, the company said. When excluding a $4 million favorable foreign exchange impact, segment revenue grew by approximately 4 percent on a constant currency basis year-over-year. This performance was primarily driven by sales of over-the-counter dry eye products alongside growth in contact lenses.
Notably, contact lens revenue achieved a 5 percent increase on a constant currency basis for the quarter, the company said, further calling out what they said was a balanced global performance that was driven by strong revenue gains across three key franchises: Ultra monthly (9 percent), Biotrue ONEday (13 percent) and the daily SiHy portfolio (16 percent).
Brent Saunders.
“Vision care delivered another quarter of dependable growth, with contact lenses up 5 percent in the U.S. and up 6 percent internationally on a constant currency basis,” Saunders said in a conference call. “That’s a balanced global growth profile powered by three franchises all pulling in the same direction. The story in contact lenses is really broad-based. Our growth isn’t concentrated in a single lens or a single modality, or in a single geography.”
Surgical segment revenue was $256 million for the second quarter of 2026, compared with $216 million for the second quarter of 2025, an increase of $40 million, or 19 percent, the company reported. Excluding the favorable impact of foreign exchange of $6 million, segment revenue increased on a constant currency basis by approximately 16 percent compared with the second quarter of 2025. Performance was driven by 175 percent reported revenue growth in premium intraocular lenses, the company said, with the premium portfolio now accounting for 13 percent of total surgical revenue compared with 6 percent in 2025.
Pharmaceuticals segment revenue was $354 million for the second quarter of 2026, as compared with $309 million for the second quarter of 2025, an increase of $45 million, or 15 percent, the company advised. Excluding the favorable impact of foreign exchange of $2 million, segment revenue increased on a constant currency basis by approximately 14 percent compared with the second quarter of 2025. Performance was driven by growth in branded pharmaceuticals—specifically dry eye medications Miebo and Xiidra—and increased sales in international pharmaceuticals.
Operating income was $83 million for the second quarter of 2026, as compared with an operating loss of $11 million for the second quarter of 2025, a favorable change of $94 million, the company stated, pointing to the revenue growth noted above and operating efficiencies as key drivers.
Net loss attributable to Bausch + Lomb Corporation for the second quarter of 2026 was $14 million, as compared with $62 million for the second quarter of 2025, a favorable change of $48 million, the company stated. The change was primarily due to operating results noted above and the impact of financing fees from the June 2025 debt refinancing transaction, partially offset by a decrease in the benefit from income taxes.
Adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP) for the second quarter of 2026 was $55 million, as compared with adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP) of $25 million for the second quarter of 2025, an increase of $30 million, the company stated. Cash flow from operations for the second quarter of 2026 was $153 million, as compared with cash flow from operations of $35 million for the second quarter of 2025, a favorable change of $118 million.
The company also announced that it has raised its 2026 full-year revenue from a range of $5.420 billion to $5.520 billion to a range of $5.440 billion to $5.440 billion. This represents constant currency revenue growth of 5.8 percent to 7.7 percent.
Earlier this month, the company announced the creation of Orphia, a brand-agnostic, AI-powered digital health platform that is designed to support eyecare providers and improve patient education. Orphia will serve all eyecare providers, regardless of the products, devices or treatments they choose to use, and it will operate under Digital Health Services, a newly created platform at Bausch + Lomb, the company said in the announcement. Orphia is not yet commercially available and Bausch + Lomb will be sharing more information about the platform in the coming months.
