On Tuesday, Alcon AG announced its second-quarter financial results, slightly beating analysts’ earnings forecast but missing revenue estimates.
Its stock price rose by 0.25% to $96.50 apiece on August 21. However, it is expected to plummet by -3.48% to $93.14 per share in the after-hours session.
The company’s earnings per share (EPS) inched up to $0.74, surpassing the experts’ $0.73 forecast. However, it failed to exceed the previous $0.78 reading.
Despite increasing revenue to $2.48 billion, it still failed to meet the $2.53 billion estimate. On the other hand, it managed to beat the $2.44 billion from the last quarter.
Moreover, the Swiss-American pharmaceutical firm’s sales increased by 3.00% year-over-year to $2.48 billion. This came amid its strength in the contact lens and implantable sectors, mainly in international markets.
Although Alcon missed revenue forecasts, it maintained its full-year 2024 guidance. Also, it continued to expect adjusted EPS of $3.00 to $3.10 and profits of $9.90 billion to $10.10 billion.
Furthermore, the eye care product maker’s operating margin expanded to 12.80% from 11.20% a year earlier. However, it emphasized significantly higher inventory provisions in its Vision Care business amid a supplier-driven quality problem.
Alcon CEO David Endicott said the company’s robust Q2 results are due to a strong demand for its innovative products and excellent execution by its team.
SMARTCataract Launched by Alcon, Expands Businesses
Alcon commercially rolled out SMARTCataract in the United States within Surgical. The move is an effort to broaden the scope of its growing surgical ophthalmology sector.
The eye care firm generates meaningful share gains from its new Toric product launches. This includes Precision1, Total30, and Dailies Total1.
Moreover, Alcon AG will offer a cataract-only system, UNITY CS, in 2026. Launching the instruments would help the company secure the next decade of its consumables business.
Furthermore, it aims to expand businesses, integrating Rocklatan and Rhopressa, and concluded Phase 3 of its dry-eye pharmaceutical candidate.
