Bausch Health Companies Inc. raised its guidance as it reported a first-quarter loss of US$52-million.
The Quebec-based drug company, which keeps its books in U.S. dollars, says the loss amounted to 15 cents a share compared with a loss of $2.58-billion or $7.36 a share a year earlier.
Revenue totalled nearly $2.02-billion for the first quarter of 2019, up from nearly $2-billion in the first quarter of 2018.
On an adjusted basis, Bausch Health says it earned $358-million in its most recent quarter, up from an adjusted profit of $312-million a year ago.
In its outlook, the company says now expects full-year revenue in a range between $8.35-billion and $8.55-billion, up from its earlier guidance for between $8.3-billion and $8.5-billion.
Bausch Health also says it now expects its adjusted earnings before interest, taxes, depreciation and amortization for the full year to come in between $3.4-billion and $3.55-billion, up from its earlier guidance for between $3.35-billion and $3.5-billion.