By Josh Beckerman
Alcon reported higher sales and earnings for the third quarter and lowered full-year sales guidance.
Shares were recently down 6.6% to $86.23 Tuesday.
Alcon, whose products include contact lenses and eye drops, said sales were helped by factors including product innovation, such as toric and multifocal lenses. Operating margin increased 0.9 percentage points amid improved operating leverage in selling, general and administrative expenses.
Net sales rose to $2.43 billion from $2.3 billion. Core earnings per share increased to 81 cents from 66 cents.
Alcon expects 2024 sales of $9.8 billion to $9.9 billion, compared with prior guidance of $9.9 billion to $10.1 billion. It expects core earnings per share of $3 to $3.05, compared with a previous outlook of $3 to $3.10.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 12, 2024 13:33 ET (18:33 GMT)
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