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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Alcon    ALC   CH0432492467

ALCON

(ALC)
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Alcon Posts 3Q Loss and Will Restructure Operations

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11/19/2019 | 05:18pm EST

By Maria Armental

Alcon Inc., the eye-care company spun off from Novartis AG, reported third-quarter results on Tuesday. Here's what you need to know:

EARNINGS: The net loss narrowed to $66 million, or 14 cents a share, from $207 million, or 42 cents a share, a year earlier. Core earnings fell to 46 cents a share from 50 cents a share a year earlier.

REVENUE: Total revenue rose to $1.87 billion from $1.76 billion a year earlier.

OUTLOOK: Alconexpects worldwide net sales this year to increase 4% to 5% on a constant currency basis and incur $500 million in separation costs, compared with its earlier view of 2019 sales growth of 3% to 5% net sales growth and $300 million in separation costs.

TRANSFORMATION: Alcon projected $300 million in costs tied to a multi-year restructuring that's projected to result in savings of $200 million to $225 million on an annualized run rate by 2023.

CEO: "Our momentum is strong as an independent company," Chief Executive David Endicott said in a statement. "We're going to build on this success by proactively implementing a multi-year transformation program that will further simplify and streamline our processes, accelerate innovation and strengthen our commercial position. We will reinvest these savings to support new product development and launches."

Write to Maria Armental at maria.armental@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALCON -1.09% 54.23 Delayed Quote.0.00%
CORE CORPORATION 0.00% 1424 End-of-day quote.27.37%
INNOVATION INC. 4.22% 2150 End-of-day quote.211.59%
NOVARTIS 0.09% 91.26 Delayed Quote.22.87%
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Financials (USD)
Sales 2019 7 411 M
EBIT 2019 1 259 M
Net income 2019 -597 M
Debt 2019 2 700 M
Yield 2019 0,15%
P/E ratio 2019 -46,3x
P/E ratio 2020 736x
EV / Sales2019 4,05x
EV / Sales2020 3,80x
Capitalization 27 286 M
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Technical analysis trends ALCON
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 19
Average target price 60,21  $
Last Close Price 55,49  $
Spread / Highest target 31,5%
Spread / Average Target 8,50%
Spread / Lowest Target -7,18%
EPS Revisions
Managers
NameTitle
David J. Endicott Chief Executive Officer & Director
F. Michael Ball Chairman-Designate
Timothy C. Stonesifer Chief Financial Officer & Senior Vice President
Sue-Jean Lin Chief Information Officer & Senior Vice President
Lynn Dorsey Bleil Independent Director
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