GENEVA—Global eyecare leader Alcon (SIX/NYSE:ALC) reported its financial results for the second quarter and the half, marking the three- and six-month periods, respectively, ending June 30, 2026. For the second quarter of 2026, reported net sales reached $2.8 billion, marking an 8 percent increase, or 7 percent on a constant currency basis, over the second quarter of 2025. For the first half of 2026, reported net sales rose 9 percent year-over-year to $5.5 billion, or a 7 percent increase on a constant currency basis, according to an announcement from Alcon.
The company’s Vision Care segment saw growth in both Q2 and over the first half of the year, the company reported. Net sales were $1.2 billion in Q2, an increase of 8 percent on a reported basis and 7 percent on a constant currency basis compared with the second quarter of 2025. In the first six months of 2026, Vision Care net sales reached $2.4 billion, an increase of 9 percent on a reported basis and 7 percent on a constant currency basis versus the first half of 2025.
Within the Vision Care segment, second quarter contact lenses net sales were $726 million, an increase of 5 percent on a reported and constant currency basis, the company reported. For the first six months of the year, contact lens sales totaled $1.5 billion, an increase of 6 percent. Excluding favorable currency impacts of 2 percent, contact lenses net sales increased 4 percent on a constant currency basis. This growth reflects product innovation and price increases, the company said, partially offset by declines in legacy products.
“In contact lenses, innovation continues to drive growth across our portfolio,” David Endicott, CEO of Alcon, said on a call with analysts. “We achieved a record global market share position, supported by strong U.S. share gains and continued momentum across both dailies and reusables.”
Also within the Vision Care segment, ocular health net sales in the second quarter of 2026 were $486 million, an increase of 13 percent, the company stated. Excluding favorable currency impacts of 1 percent, ocular health net sales increased 12 percent on a constant currency basis. Growth was led by the company’s portfolio of dry eye products, including Tryptyr and Systane. For the first half of the year, ocular health net sales were $973 million, an increase of 13 percent, or 11 percent in constant currency.
Alcon’s Surgical segment net sales were $1.6 billion in Q2, an increase of 8 percent on a reported basis and 7 percent on a constant currency basis versus the second quarter of 2025, the company advised. Implantables net sales were $466 million, an increase of 2 percent. Consumables net sales were $825 million, an increase of 6 percent, while equipment/other net sales were $279 million, an increase of 26 percent. This growth was led by recent equipment launches, including the Unity platform.
In the first half of 2026, the Surgical segment reported sales growth across its primary categories, with implantables reaching $904 million, marking a 1 percent increase on a constant currency basis. Consumables sales rose to $1.6 billion, a 5 percent constant currency increase driven by procedural growth and price increases despite what the company said was continued softness in the cataract market. Equipment and other sales climbed 24 percent on a constant currency basis to $532 million, driven by the recent product launches including the Unity platform.
“Our team delivered strong second-quarter results and executed well across the business,” said Endicott. “Unity, PanOptix Pro, Tryptyr and other recent launches are driving growth and reinforcing the strength of our innovation engine. Across the portfolio, our innovative products continue to gain traction and expand our market positions, including contact lenses where we are continuing to gain share. With a robust pipeline and several important launches ahead, we are well positioned to deliver sustainable long-term growth and further strengthen our leadership in eyecare.”
In July, Alcon and RxSight, Inc. (NASDAQ: RXST), an ophthalmic medical device company focused on providing high-quality customized vision to patients following cataract surgery, announced a non-exclusive collaboration to jointly develop adjustable presbyopia-correcting intraocular lenses (PCIOLs). As part of the agreement, RxSight will receive a $60 million upfront payment to begin development and could receive up to an additional $140 million in payments as development and regulatory milestones are met.
“While still in the early stages, the collaboration combines Alcon’s expertise in advanced optical and lens architecture with RxSight’s adjustability platform,” Endicott noted on yesterday’s call. “Together we aim to develop a next-generation lens designed specifically for the platform with the potential to further enhance visual performance and refractive precision.”
Operating income in the second quarter of 2026 was $11 million compared with $247 million in the prior-year period, offset by the company’s decision to discontinue the IOL programs acquired from PowerVision, Inc. in March 2019 following the analysis of the latest clinical study data. Operating income was $303 million in H1 compared with $715 million in the prior-year period, the company advised.
Net cash flows from operating activities amounted to $928 million for the first six months of 2026, compared with $889 million in the prior-year period. Free cash flow was $693 million for the six months of 2026, compared with $681 million in the prior-year period.
Alcon updated its full-year guidance, increasing its core operating margin while maintaining projected net sales growth of 5 percent to 7 percent. The company said it expects a full-year tariff impact, net of mitigating actions and refunds, of approximately $40 million to $90 million. This reflects an anticipated refund of approximately $60 million from the U.S. government in the third quarter of 2026. Approximately two-thirds of the refund benefit is expected to be reinvested in the business, the company noted.
