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Bausch + Lomb Corporation’s EBITDA Jumps 28% — Can Margin Expansion Continue?

Bausch + Lomb reported a second quarter 2026 marked by broad-based revenue growth and significant margin expansion across its Pharmaceuticals, Vision Care, and Surgical segments. The company achieved an 8% constant currency revenue increase to $1.394 billion, driven by steady performance in its key business areas. Adjusted EBITDA rose 28% year-over-year to $246 million, with adjusted EBITDA margin expanding by 260 basis points to 17.6%, supported by operational leverage, productivity initiatives, and a favorable product mix. The company also noted improved cash generation, with adjusted operating cash flow tripling compared to the previous quarter to $161 million, aiding a net leverage reduction of one full turn since last year. Segment analysis shows Surgical revenue grew 16% to $256 million, led by implantables, which surged 64% year-over-year on a constant currency basis and 37% compared to Q2 2024.