Alcon: deceptive revision of annual targets

(CercleFinance.com) - Shares of Alcon, the world's leading eye care company, rose on Wednesday after it announced results that were just in line with market expectations, while reducing its annual targets.


The Swiss ophthalmic specialist, a former Novartis subsidiary, last night reported Q3 sales of 2.1 billion dollars, up 2% as reported and up 9% at constant exchange rates.

The Geneva-based group, which offers products for cataract, glaucoma and retinal diseases, reported basic EPS of $0.50, vs. $0.54 in Q3 2021.

In comparison, analysts were targeting sales of 2.15 billion dollars, with core EPS of $0.50.

Alcon, which says its results reflect an "extremely challenging" economic environment, lowered its sales estimate for this year, citing the strong dollar.

While it previously forecast net sales of 8.6 to 8.8 billion dollars for 2022, its new forecast is for a range of 8.5 to 8.7 billion dollars.

Alcon shares were up 2% in Zurich on Wednesday following this publication.


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