Alcon Gains More Than 10% In Pre-market After Strong Q2 Results

(RTTNews) - Geneva based eye care company Alcon Inc. (ALC) is trending 10 percent higher in pre-market trade after second quarter results topped top-line and bottom-line estimates and full year guidance was raised above view.

The company swung to a profit of $151 million or $0.31 per share in the current quarter from a net loss of $422 million or $0.86 per share in the year-ago quarter.

Core diluted EPS increased to $0.56, from a loss per share of $0.21. 13 analysts polled by Thomson Reuters had estimated earnings excluding one-time items at $0.45.

Net sales recorded a jump of 75 percent on a reported basis and 69 percent on a constant currency basis to increase to $2.1 billion, from $1.2 billion, a year ago. 11 analysts were expecting revenues of $1.96 billion.

The full-year net sales outlook has been raised to $8.0 - $8.2 billion, from $7.8-$8.0 billion issued in May 2021. Analysts are expecting $7.2 billion.

Core operating margin is now expected to touch 17.5% as compared to the level of 17% anticipated in May.

Core diluted EPS is expected between $2.00 and $2.10, higher than the level of $1.85 to $1.95 anticipated in May and the analyst estimate of $1.93.

Shares of Alcon, that operates in the ophthalmic, surgical and vision care markets, has traded in the range of $54.51-$76.53 in the past 52 weeks. It is currently trading in pre-market at a higher level of $78.74, up $7.38 or 10.34 percent over previous close.