Bausch + Lomb shareholders elect 10 directors at annual meeting

VAUGHAN, Ontario - Bausch + Lomb Corporation (NYSE/TSX: BLCO), a global eye health company with a market capitalization of $4.15 billion, announced the successful election of 10 directors at its Annual Meeting of Shareholders held today. The company’s stock has declined approximately 35% year-to-date, currently trading near its 52-week low. Shareholders also passed a non-binding advisory vote on executive compensation and appointed PricewaterhouseCoopers LLP as the company’s auditor for the next year.

The elected directors, including Nathalie Bernier, Gary Hu, Brett Icahn, Sarah B. Kavanagh, Karen L. Ling, John A. Paulson, Russel C. Robertson, Thomas W. Ross, Sr., Brenton L. Saunders, and Andrew C. von Eschenbach, M.D., received a majority of votes with the lowest count at 337,474,287 for and 1,890,849 against. The results indicated a strong shareholder support for the board’s nominees.

The appointment of PricewaterhouseCoopers LLP will extend until the close of the company’s 2026 Annual Meeting of Shareholders, with the board of directors authorized to set the auditor’s remuneration. This decision underscores the continued trust in the firm’s auditing services.

Bausch + Lomb, founded in 1853, is committed to improving vision for people worldwide. The company’s extensive product line includes approximately 400 items, such as contact lenses, eye care products, and ophthalmic surgical devices. With a workforce of around 13,500, Bausch + Lomb maintains a significant presence in about 100 countries. According to InvestingPro data, the company generates annual revenue of $4.83 billion and operates with a significant debt burden, though analysts expect net income growth this year. For deeper insights into BLCO’s financial health and growth prospects, including 7 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.

The final vote tally for all matters at the Annual Meeting will be disclosed in a Form 8-K report filed with the U.S. Securities and Exchange Commission. This report will be accessible on the company’s SEDAR+ profile and its website. Analysts have set price targets ranging from $11 to $24.50 for the stock, reflecting varied opinions on the company’s future prospects.

Today’s announcement is based on a press release statement by Bausch + Lomb Corporation.

In other recent news, Bausch + Lomb Corporation reported its first-quarter earnings, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.07 against a forecast of $0.02 and actual revenue of $1.14 billion compared to the expected $1.15 billion. Despite these setbacks, Bausch + Lomb raised its full-year revenue guidance to a range of $5.0 to $5.1 billion. The company experienced a net loss of $212 million, with a significant impact from the voluntary recall of Envista lenses, which reduced revenue by approximately $55 million. H.C. Wainwright analyst Yi Chen adjusted the company’s stock price target to $15.00 from $20.00, maintaining a Buy rating, citing uncertainties surrounding tariffs as a factor for the revision. Additionally, Bausch + Lomb introduced the Zenlens CHROMA HOA scleral contact lenses in the United States, designed to correct higher-order aberrations. These recent developments reflect the company’s ongoing efforts to enhance its product offerings and navigate financial challenges.

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