Bausch Health Companies reports US$610-million Q1 loss, revenue edges higher
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Bausch Health Companies reports US$610-million Q1 loss, revenue edges higher

Last Updated May 4, 2021 at 9:09 am ADT

LAVAL, Que. — Bausch Health Companies Inc. reported a first-quarter loss of US$610 million compared with a loss of US$152 million a year earlier.

The company, which keeps its books in U.S. dollars, says the loss amounted to US$1.71 per diluted share for the quarter compared with a loss of 43 cents per diluted share in the first three months of 2020.

The results included a US$469-million goodwill impairment charge in its Ortho Dermatologics business and a US$71-million impairment charge related to a product line in Ortho Dermatologics.

On an adjusted basis, Bausch Health says it earned US$370 million for the quarter, up from an adjusted profit of US$316 million for same quarter last year.

Revenue for the quarter totalled nearly US$2.03 billion for the first quarter of 2021 compared with US$2.01 billion in the first quarter of 2020.

Bausch Health says excluding the US$33-million favourable impact of foreign exchange and the $10-million impact of divestitures and discontinuations, revenue fell US$8 million compared with a year ago.

This report by The Canadian Press was first published May 4, 2021.

Companies in this story: (TSX:BHC)

The Canadian Press

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