Bausch Health Companies reports fourth-quarter loss of US$153 million

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LAVAL, Que. — Bausch Health Companies Inc. reported a loss of US$153 million in its latest quarter as its revenue edged lower compared with a year ago.

The company, which keeps its books in U.S. dollars, says the loss amounted to 43 cents per share for the quarter ended Dec. 31 compared with a loss of US$1.52 billion or US$4.30 per diluted share a year earlier then it saw a large one-time charge.

Revenue for the quarter totalled US$2.21 billion, down from US$2.22 billion.

Adjusted net income for the quarter was US$478 million, up from US$404 million in the fourth quarter of 2019.

In its outlook, Bausch Health says it expects revenue for 2021 to be in a range between US$8.6 billion and US$8.8 billion.

Full-year adjusted earnings before interest, taxes, depreciation and amortization for 2021 was forecast in a range from US$3.4 billion to US$3.55 billion.

This report by The Canadian Press was first published Feb. 24, 2021.

Companies in this story: (TSX:BHC)

The Canadian Press