ALC - Alcon 2022 net sales outlook lowered to below consensus as diluted EPS tightened
- Alcon ( NYSE: ALC ) has lowered its 2022 net sales outlook to $8.5B to $8.7B, down from $8.6B to $8.8B in August. The consensus revenue estimate is $8.74B.
- The eye care company also tightened its diluted EPS range for the year to $2.20-$2.25 from $2.20-$2.30 in August. The consensus estimate is $2.29.
- In Q3 2022, net income soared to $116M from $2M in the prior-year period ($0.23 earnings per share diluted vs $0.00). A 50% decline in R&D expenseS to $159M compared to Q3 2021 helped.
- Revenue of ~$2.1B was a ~2% year-over-year increase.
- While Alcon ( ALC ) beat on the bottom line , it missed on the top.
- The company ended the quarter with ~$1.2B in cash and cash equivalents, a ~25% decline from Dec. 31, 2021.
- Seeking Alpha's Quant Rating views Alcon ( ALC ) as a hold with high marks for profitability and momentum .
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Alcon 2022 net sales outlook lowered to below consensus as diluted EPS tightened