Alcon Shares Fall After Q3 Net Sales Miss Estimates, 2024 Guidance Updated

MT Newswires Live11-13

Alcon (ALC) shares were down 6% in recent Tuesday trading after the company reported Q3 net sales that fell below analyst expectations and updated its 2024 guidance.

The company reported Q3 core earnings Tuesday of $0.81 per diluted share, up from $0.66 a year earlier.

Analysts polled by Capital IQ expected $0.74.

Net sales for the quarter ended Sept. 30 were $2.43 billion, up from $2.30 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.47 billion.

The company said it tightened its 2024 core diluted earnings guidance and now expects $3.00 to $3.05, compared with guidance in August of $3.00 to $3.10. Analysts surveyed by Capital IQ expect $3.04.

The company now expects net sales for the full year of $9.8 billion to $9.9 billion versus $9.9 billion to $10.1 billion in August. Analysts polled by Capital IQ expect $9.94 billion.

Price: 86.73, Change: -5.56, Percent Change: -6.02

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