adminBy Adriano Marchese
Bausch + Lomb shares rose Wednesday morning after the company raised its expectations for full-year revenue and adjusted Ebitda.
At 10:04 a.m. ET, shares trading in Toronto were 3.8% higher at 23.10 Canadian dollars ($16.65).
The Canadian eye-health company said it now expects full-year revenue to be higher than previously forecasted, setting a new range to $4.04 billion and $4.09 billion, representing a constant-currency growth of 9.5% and 10.5%.
Originally the company had set revenue targets between $3.95 billion and $4 billion.
The company’s expectations for adjusted earnings before interest, taxes, depreciation and amortization has also been upgraded to be between $710 million and $760 million compared with a previous expectation of $700 million and $750 million.
Foreign exchange headwinds are expected to be worse than previously thought. The company expects to incur a hit of $85 million to revenue and $55 million to adjusted Ebitda.
Previously, the company had forecasted the headwinds to negatively affect revenue by $50 million and adjusted Ebitda by $35 million.
Write to Adriano Marchese at [email protected]
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