Bausch+Lomb Results Presentation Deck
1Q23 Outlook Assumptions¹
Plan to provide full year guidance at 1Q23 earnings, given the new CEO transition
Organic Revenue Growth 2,³: Expected to be in-line with overall eyecare market growth in 1Q23
1Q23 Quarterly Phasing: Expect 1Q23 adj. EBITDA² to be lower than 1Q22, mainly driven by currency
headwinds, the pace of recovery in China, and carryover leading to gross margin pressure
FX: Based on current FX rates, expect headwinds in 1Q23 to be ~$35M for revenue and ~$10M for adj. EBITDA²
Adj. Gross Margin²: Expect 1Q23 to be ~130bps lower than 1Q22 due to higher cost of inventory
Comparability: 1Q22 financial statements were prepared prior to the IPO and do not fully reflect run-rate stand-
alone costs; basis of interest expense and taxes reported in 1Q22 financial statements also does not fully reflect
the operations as a stand-alone entity
BAUSCH + LOMB
1. See Slide 1 for further information on forward-looking statements.
2. This is a non-GAAP measure or ratio. See Slide 2 and Appendix for further information on non-GAAP measures and ratios. See slides 11, 12, 13 and 14 for disclosure of historic non-GAAP measures and ratios and their historic comparable GAAP measures and ratios.
3. Organic revenue growth/change, a non-GAAP ratio, is defined as a change on a period-over-period basis in revenues on a constant currency basis (if applicable) excluding the impact of acquisitions, divestitures and discontinuations.
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