Alcon (ALC) Misses Q2 EPS by 6c, Revenues Beat

Alcon (NYSE: ALC) reported Q2 EPS of ($0.21), $0.06 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.14 billion.

• Second quarter sales of $1.2 billion, a decrease of 36%, or 34% constant currency
• Sequential monthly improvements since April, driven by the global recovery
• Continued progress on strategic initiatives and innovation roadmap
• Successfully raised $750 million from senior notes to further strengthen liquidity

"We are encouraged by the sequential monthly improvement in sales, which confirmed our recovery expectations. Despite the significant level of uncertainty due to COVID-19, we continue to stay on track with our major initiatives," said David Endicott, Chief Executive Officer.

Mr. Endicott continued, "We are laser focused on executing our strategic priorities: accelerating innovation, transforming new Alcon and expanding our world class manufacturing capabilities. These investments will sustain Alcon's market leadership, fuel growth and expand our ability to serve more doctors, patients and customers in a post-pandemic world."

For earnings history and earnings-related data on Alcon (ALC) click here.

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