Welcome to our dedicated page for Alcon news (Ticker: ALC), a resource for investors and traders seeking the latest updates and insights on Alcon stock.
Alcon Inc. Ordinary Shares (symbol: ALC) is a premier American-Swiss healthcare company headquartered in Geneva, Switzerland, and incorporated in Fribourg, Switzerland. Renowned globally for its eye care products, Alcon excels in vision care and surgical segments, making it a leader in the eye care industry. Having spun off from Novartis in April 2019, Alcon now independently operates to enhance the quality of life through innovative vision products.
Alcon’s vision care segment includes a wide range of products such as contact lenses, lens care solutions, and ocular health products. With brands like Dailies, Total1, and Air Optix, Alcon boasts significant control over the U.S. contact lens market. Their surgical segment offers advanced solutions like intraocular lenses (IOLs), ophthalmic surgical equipment, and consumables used during surgeries. Notable products include the Centurion phacoemulsification device and the Clareon, PanOptix, and Vivity IOLs.
Recently, Alcon launched the Clareon Vivity, which is the world’s first non-diffractive extended depth of focus (EDOF) intraocular lens. This innovative IOL incorporates wavefront-shaping technology, offering superior visual outcomes for cataract patients seeking presbyopia correction. The Clareon platform enhances Alcon's portfolio, which already includes the highly successful PanOptix lenses.
Financially, Alcon has shown robust growth. For Q4 2023, Alcon's sales reached $2.3 billion, marking an 8% increase from the previous year. Diluted EPS was $0.86, reflecting a 78% increase, and core diluted EPS was $0.70, up 67%. Alcon also reported a strong cash flow, with $937 million generated from operating activities in the first nine months of 2023.
Alcon's dedication to innovation and quality in eye care is further evidenced by its extensive research and development initiatives. The company engages in partnerships with eye care professionals and offers educational resources through the Alcon Experience Academy. Through consistent advancements and a customer-centric approach, Alcon continues to lead in enhancing sight and improving lives globally.
Alcon announced that its Unity Vitreoretinal Cataract System (VCS) and Unity Cataract System (CS) have received U.S. FDA 510(k) clearance. These systems are the first innovations from Alcon's Unity portfolio, aimed at transforming surgical procedures in ophthalmology. Alcon plans to gather real-world user feedback in the U.S. before a broad commercialization in 2025. The Unity systems are set to replace Alcon's current leading systems and introduce significant workflow efficiencies. Regulatory submissions will continue globally, with a CE Mark expected in early 2025.
Alcon reported strong first-quarter 2024 financial results, with sales reaching $2.4 billion, a 5% increase (7% constant currency). Diluted EPS rose 43% to $0.50, while core diluted EPS improved by 11% to $0.78. The company saw significant growth in its Surgical and Vision Care segments, particularly in innovative contact lenses, which achieved record sales. Operating income rose to $368 million, with a 15.1% operating margin. Cash from operations jumped to $341 million, with free cash flow at $229 million, a $248 million year-over-year increase. A dividend of CHF 0.24 per share was approved. The company's 2024 outlook remains optimistic, maintaining sales and core EPS guidance.
Alcon Inc. announced the successful approval of all proposed resolutions at its 2024 Annual General Meeting. This includes the approval of a dividend of CHF 0.24 per share, re-election of F. Michael Ball as Chair of the Board of Directors, approval of the Board and Executive Committee compensation, and acceptance of financial reports. Shareholders also re-elected other members of the Board and committees, granted discharge to Board and Executive Committee members, and re-elected auditors.
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