LAVAL, Quebec (AP) — LAVAL, Quebec (AP) — Bausch Health Companies Inc. (BHC) on Wednesday reported fourth-quarter net income of $93 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Laval, Quebec-based company said it had net income of 25 cents. Earnings, adjusted for non-recurring costs, came to $1.21 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The drugmaker posted revenue of $2.56 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported that its loss narrowed to $46 million, or 13 cents per share. Revenue was reported as $9.63 billion.
Bausch expects full-year revenue in the range of $9.9 billion to $10.15 billion.
Bausch shares have fallen 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.51, a fall of 24% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BHC at https://www.zacks.com/ap/BHC
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