Guidance ChallengesFollowing 2Q25 results, it was felt 2H25 implied guidance was potentially ambitious—and with a slight 3Q25 CC sales growth miss and only moderate EBITDA upside, 4Q25 implied guidance is viewed as even more challenging.
Market ExpectationsBLCO's contact lens growth of 6% was slightly below Street expectations of 7%, which may affect investor confidence.
Separation UncertaintyThere is limited visibility to a full separation from parent Bausch Health, which may hinder near-term growth.