LAVAL, Que. – Bausch Health Companies Inc. raised its profit and revenue guidance as it reported a US$ 49-million loss in its latest quarter.
The drug company, which keeps its books in U.S. dollars, says it now expects full-year revenue in a range from $ 8.475 billion and $ 8.625 billion, up from earlier expectations for revenue between $ 8.40 billion to $ 8.60 billion.
Full-year adjusted earnings before interest, taxes, depreciation and amortization are expected to be in a range from $ 3.50 billion to $ 3.60 billion compared with earlier guidance for between $ 3.425 billion to $ 3.575 billion.
The company says the loss amounted to 14 cents per share for the quarter compared with a loss of $ 350 million or $ 1.00 per share in the same quarter last year.
On an adjusted basis, Bausch earned net income of $ 425 million in the quarter compared with $ 403 million for the third quarter of 2018.
Revenue totalled nearly $ 2.21 billion, up from nearly $ 2.14 billion a year ago.
This report by The Canadian Press was first published Nov. 4, 2019.
Companies in this story: (TSX:BHC)
Note to readers: This is a corrected story. An earlier version incorrectly stated the company’s revised guidance.
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