Bausch Health shares slide 2.9% premarket as loss widens

Bausch Health Cos. Inc. shares slid 2.9% in premarket trade Wednesday, after the company posted a wider loss for the fourth quarter that the year-earlier period. The company, the former Valeant, said it had a net loss of $1.516 billion, or $4.30 a share, in the quarter, wider than the $344 million loss, or 98 cents a share, posted in the year-earlier period. Revenue rose to $2.224 billion from $2.121 billion. The FactSet consensus was for EPS of $1.15 and revenue of $2.197 billion. revenue at the company's Bausch + Lomb division rose to $1.238 billion from $1.205 billion, matching the FactSet consensus. Revenue from its Salix segment rose to $517 million from $426 million, sales at the ortho dermatologics division fell to $158 million from $160 million, and sales at the diversified products division fell to $311 billion from $330 million. Looking ahead, the company is expecting 2020 revenue of $8.65 billion to $8.85 billion, compared with a FactSet consensus of $8.78 billion. Shares have gained 11.3% in the last 12 months, while the S&P 500 has gained 21%.

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