Bausch Health Q4 Sales Rise 9% to $2.8B but Posts $112M Loss
Bausch Health posted 2025 sales of $10.27 billion (+7% YoY) and Q4 revenue of $2.80 billion (+9% YoY) but recorded a $112 million GAAP loss in Q4 versus a $157 million annual profit. Bank of America lifted Bausch + Lomb’s price target to $15, citing a 2% beat and a 4.5% lens market growth forecast.
1. Separation Overhang Concerns
Bausch Health’s planned separation continues to weigh on its valuation as investors await the full spin-off of its eye care unit, prolonging uncertainty over capital allocation and debt reduction strategies.
2. 2025 Financial Results
The company delivered consolidated sales of $10.27 billion in 2025, up 7% year-over-year, with Q4 revenue at $2.80 billion (+9%), but GAAP results showed a $112 million loss in Q4 contrasting with a $157 million net profit for the full year.
3. Bausch + Lomb Performance
Bausch + Lomb’s unit exceeded Q4 revenue estimates by 2%, driven by strong demand for contact lenses and gastrointestinal product Xifaxan, which generated $693 million in Q4 revenue, with a projected 4.5% market expansion for lenses in 2026.
4. Analyst Outlook
Bank of America raised its Bausch + Lomb price target to $15 while maintaining an underperform rating, highlighting the revenue beat and growth forecasts but emphasizing lingering execution risks tied to the separation process.