GENEVA—Alcon (SIX/NYSE:ALC), a global leader in eyecare, reported its financial results for the three and nine months ended Sept. 30, 2023. For the third quarter of 2023, sales were $2.3 billion, an increase of 8 percent on a reported basis and 9 percent on a constant currency basis, as compared to the same quarter of the previous year. Sales for the first nine months of 2023 were $7.0 billion, an increase of 8 percent on a reported basis and 11 percent on a constant currency basis, compared to the first nine months of 2022.

The company also narrowed its full-year guidance to the lower end of previous ranges. David J. Endicott, Alcon's chief executive officer, said, "Our strong third quarter results reflect the resilience of our business and end markets, our focus on sustained earnings growth and the commitment of our more than 25,000 associates to pioneering innovations that improve sight."

Endicott continued, "As we approach the end of the year, we are excited for the future. We are exiting the year from a position of strength, we have a robust pipeline of innovative products and are confident that we’ll continue to create long-term value for doctors, their patients and all of our stakeholders."

Double-digit Vision Care growth reflected strength in contact lenses and eye drops, including acquired products, and pricing. For the third quarter of 2023, Vision Care net sales, which include contact lenses and ocular health, were $1.0 billion, an increase of 13 percent on a reported and constant currency basis, versus the third quarter of 2022. Vision Care net sales included 4 percentage points of contribution from products acquired in 2022.

Contact lenses net sales were $612 million, an increase of 10 percent driven by product innovation, including toric modalities of Precision1, Total30 and Dailies Total1, outpacing declines in legacy lenses. Growth also included price increases and favorable currency impacts of 1 percent. Contact lenses net sales increased 9 percent constant currency.

Ocular health net sales were $415 million, an increase of 19 percent, primarily driven by the portfolio of eye drops, including acquired ophthalmic pharmaceutical products and price increases. Growth was partially offset by unfavorable currency impacts of 1 percent. Ocular health net sales increased 20 percent constant currency, including 11 percentage points from products acquired in 2022.

For the first nine months of 2023, Vision Care net sales were $3.1 billion, an increase of 13 percent, including 4 percentage points from products acquired in 2022. Excluding unfavorable currency impacts of 2 percent, Vision Care net sales increased 15 percent constant currency.

For the third quarter of 2023, Surgical net sales, which include implantables, consumables and equipment/other, were $1.3 billion, an increase of 5 percent on a reported basis and 6 percent on a constant currency basis versus the third quarter of 2022.

Implantables net sales were $401 million, an increase of 2 percent, led by demand for advanced technology intraocular lenses in international markets, partially offset by unfavorable currency impacts of 3 percent. Implantables net sales increased 5 percent constant currency.

Consumables net sales were $661 million, an increase of 7 percent, reflecting demand for cataract and vitreoretinal consumables, particularly in international markets, and price increases. Equipment/other net sales were $214 million, an increase of 4 percent, reflecting growth compared with the strong prior year period.

For the first nine months of 2023, Surgical net sales were $4.0 billion, an increase of 5 percent. Excluding unfavorable currency impacts of 3 percent, Surgical net sales increased 8 percent constant currency.

Third quarter 2023 operating income was $293 million and operating margin was 12.7 percent. Operating income for the first nine months of 2023 was $831 million and operating margin was 11.8 percent, which increased 1.8 percentage points on a reported basis and 3.1 percentage points on a constant currency basis. The company ended the first nine months of 2023 with a cash position of $1.1 billion.

Alcon also narrowed its full-year guidance to the lower end of previous ranges, from $9.3 billion to $9.5 billion in August to $9.3 billion to $9.4 billion as of November.