Bausch+Lomb Results Presentation Deck
Full-Year 2022 Revenue and Adjusted EBITDA (non-GAAP)¹ Guidance ³
Prior Guidance
(June 2022)
Prior Guidance
(August 2022)
Current Guidance
(November 2022)
$3.70B $3.75B
$3.75B $3.80B
$3.75B $3.80B
Total Revenues
Adjusted EBITDA (non-GAAP)¹
Key Assumptions
Interest Expense²
R&D
Adj. Tax Rate (non-GAAP)¹
Avg. Fully Diluted Share Count
Cap Ex
Depreciation and Stock Based
Comp
BAUSCH + LOMB
$740M $780M
Prior Guidance
(June 2022)
-$150M
-7% of revenue
-12%
-350M
-$225M
-$215M
$740M $780M
Prior Guidance
(August 2022)
-$150M
-8% of revenue
~6%-8%
-350M
- $225M
-$200M
$715M $755M
Current Guidance
(November 2022)
-$150M
-8% of revenue
~6%
-350M
-$200M
-$200M
Revenue
Maintained 4-5% organic revenue
growth ¹,3 expected for FY22;
strengthening dollar impacting
estimate for reported results
FY22 FX headwinds expected to
increase to $210M from $160M
Adj. EBITDA
Updating adjusted EBITDA¹ due to
$10M FX headwind and $15M
slower than expected SiHy
manufacturing yield / output ramp
Adj. Gross Margin
Adj. gross margin for 2022 is
expected to be -60% 1,3
1. This is a non-GAAP measure or ratio. See Slide 2 and Appendix for further information on non-GAAP measures or ratios. See slides 10 and 11 for disclosure of historic non-GAAP measures and ratios and their historic comparable GAAP measures and ratios.
2. Interest expense includes -$100M for the $2.5bn Term loan issued on May 10th 2022 and amortization and write-down of deferred financing costs. It also includes -$50M of interest related to B+L's affiliate debt with BHC for $2.2bn which was paid off as part of the
IPO transaction.
3. The guidance in this presentation is only effective as of the date given, Nov. 2, 2022, and will not be updated or affirmed unless and until the Company publicly announces updated or affirmed guidance. Distribution or reference of this deck following Nov. 2, 2022
does not constitute the Company re-affirming guidance. See Slide 1 for further information on forward-looking statements.
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