Stock Alert: Bausch Health Co. Down 9% On Wider Q1 Net Loss

Bausch Health Companies Inc. (BHC) shares are declining on Tuesday morning trade after the company reported a wider net loss for the first quarter.

Currently, the shares are at $28.49, down 9.33 percent from the previous close of $31.42. For the 52-week period, the shares have traded in a range of 4,553,078.

The health care products company recorded first-quarter net loss of $610 million wider than net loss of $152 million in the prior year. On an adjusted basis, net loss was $370 million.

Revenue for the quarter increased to $2.027 billion from $2.012 billion last year. The company said its first-quarter revenue was negatively impacted by approximately $100 million due to the COVID-19 pandemic.

Looking ahead, the company reiterated full-year revenue in a range of $8.60-$8.80 billion and adjusted is EBITDA in a range of $3.40-$3.55 billion.

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