Bausch Health Companies (BHC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Bausch Health published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Bausch Health reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Bausch Health consolidates Bausch + Lomb, of which it holds about 87% of the common shares. Bausch + Lomb's revenue is in the totals here, and the share Bausch Health does not own is the noncontrolling interest.
• Bausch Health's Q1 2026 GAAP loss includes a $1,426 million goodwill impairment for the Salix reporting unit, recorded after two Phase 3 trials of a new rifaximin formulation failed in January 2026.

Source: Bausch Health Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Bausch Health splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Bausch Health's Salix revenue was $831 million in Q3 2026, up 16% from $716 million in Q3 2025, 28% of total revenue.
• Bausch Health's International revenue was $299 million in Q3 2026, up 5% from $286 million in Q3 2025, 10% of total revenue.
• Bausch Health's Solta Medical revenue was $165 million in Q3 2026, up 18% from $140 million in Q3 2025, 6% of total revenue.
• Bausch Health's Diversified revenue was $271 million in Q3 2026, up 5% from $258 million in Q3 2025, 9% of total revenue.
• Bausch Health's Bausch + Lomb revenue was $1.4 billion in Q3 2026, up 7% from $1.3 billion in Q3 2025, 47% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first two lines are rows of Bausch Health's guidance table, with three columns: consolidated Bausch Health, Bausch Health excluding Bausch + Lomb, and Bausch + Lomb. The "1" is the release's non-GAAP footnote marker.

In its Q3 2026 release, Bausch Health said:

“Revenues (in billions) $10.975 - $11.175 $5.525 - $5.625 $5.450 - $5.550”

“Adjusted EBITDA 1 (in billions) $4.315 - $4.415 $3.225 - $3.275 $1.090 - $1.140”

“Other than with respect to GAAP revenues, the Company only provides guidance on a non-GAAP basis.”

Source: Bausch Health Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the BHC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Consolidated revenue and GAAP diluted EPS attributable to Bausch Health, each as first reported in that quarter's release. The Q4 2025 loss includes a $145 million goodwill impairment for the Generics reporting unit, and the Q1 2026 loss the $1,426 million Salix impairment.

We do not hold a confirmed date for Bausch Health's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Bausch Health reports five segments, and the largest is Bausch + Lomb, its majority-owned eye health company, with $1,375 million of Q3 2026 revenue out of $2,941 million. The four segments that make up Bausch Health excluding Bausch + Lomb brought in $1,566 million: Salix (U.S. gastrointestinal drugs) $831 million, International $299 million, Diversified (U.S. neuroscience, dermatology, generics and dentistry) $271 million and Solta Medical (aesthetic devices) $165 million. (Bausch Health Q3 2026 release, Oct 28, 2026; Bausch Health Form 10-Q, Q3 2026, Oct 29, 2026)

Bausch Health's Salix segment depends on one product line: Xifaxan accounts for about 85% of Salix revenue. Salix revenue rose $115 million, or 16%, and the 10-Q breaks that into $152 million from higher net realized pricing, partly offset by $50 million of lower volume. Bausch Health says the pricing gain was partly due to channel mix and the timing of channel inventory in the quarter, and that the volume drop followed its decision to exit certain channels. (Bausch Health Form 10-Q, Q3 2026, Oct 29, 2026; Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health's Bausch + Lomb segment grew $94 million, or 7%, on $63 million of higher volume and $31 million of higher net realized pricing, mainly in Vision Care and Pharmaceuticals. Solta Medical rose 18% on the acquisition of its full-service distributor in China but fell 4% on an organic basis, and Diversified grew 5% on double-digit growth in Dermatology. (Bausch Health Form 10-Q, Q3 2026, Oct 29, 2026; Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health's consolidated revenue rose 10% as reported and 8% on an organic basis, excluding $37 million from acquisitions and $11 million of divestitures and discontinuations. The release lists among its risks the Medicare negotiated prices for Xifaxan under the Inflation Reduction Act, expected to take effect in 2027. (Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health's GAAP diluted EPS of $1.15 compares with Adjusted EPS of $1.77. Adjusted net income of $673 million adds back $227 million of intangible asset amortization, $16 million of restructuring, integration and transformation costs and $10 million of litigation costs, less a $7 million tax effect and $15 million attributable to the noncontrolling interest in Bausch + Lomb. (Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health's operating income rose to $983 million from $619 million. Cost of goods sold fell to $721 million from $735 million while revenue grew, research and development fell to $141 million from $166 million, and other expense dropped to $11 million from $81 million. Interest expense, $398 million in the quarter, remains the largest cost below operating income, on total debt obligations of $20,168 million. (Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health's tax provision was $151 million on pre-tax income of $597 million, against $37 million on $218 million a year earlier. Diluted shares rose to 380.7 million from 375.5 million, and the board authorized a $50 million share repurchase program mainly to offset dilution from management equity awards expected to vest in 2027. (Bausch Health Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Bausch Health raised its full-year 2026 guidance in the release. Consolidated revenue is now $10.975 billion to $11.175 billion and consolidated Adjusted EBITDA $4.315 billion to $4.415 billion. For Bausch Health excluding Bausch + Lomb, revenue is $5.525 billion to $5.625 billion, Adjusted EBITDA $3.225 billion to $3.275 billion and Adjusted Cash Flows from Operations $1.600 billion to $1.675 billion. (Bausch Health Q3 2026 release, Oct 28, 2026)

Bausch Health gives guidance only on a non-GAAP basis apart from revenue, gives no EPS outlook, and says the guidance includes the estimated impact of applicable tariffs as of the release date. (Bausch Health Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Bausch Health, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Bausch Health's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning BHC is on is BHC a buy or a sell?, what analysts expect next is on the BHC forecast, and what the company does is on the Bausch Health Companies (BHC) stock page.

Every number on this page can be traced to a document Bausch Health published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.