Bausch Health shares jump 6% premarket after company offers upbeat revenue guidance

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Bausch Health Cos. Inc. shares soared 6% in premarket trade Thursday, after the company said it expects third-quarter revenue to exceed $2.1 billion, ahead of the FactSet consensus of $1.99 billion. “Additionally, based on the pace of recovery of its various businesses observed in the third quarter of 2020 and assuming its businesses continue to rebound from the impact of the COVID-19 pandemic, Bausch Health currently expects its full-year 2020 revenue and Adjusted EBITDA (non-GAAP) to be around the midpoint of its current guidance ranges of $7.80 — $8.00 billion for revenue and $3.15 – $3.30 billion for 2020 Adjusted EBITDA (non-GAAP),” the company said in a statement. Bausch, the former Valeant, will report its third-quarter earnings on Nov. 3. Shares have fallen 46% in the year to date, while the S&P 500 has gained 5.8%.

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