GENEVA, Switzerland—Alcon (SIX/NYSE:ALC) reported its financial results for the three and six months ended June 30, 2023. For the second quarter of 2023, sales were $2.4 billion, an increase of 9 percent on a reported basis and 12 percent on a constant currency basis as compared to the same quarter of the previous year. Sales for the first half of 2023 were $4.7 billion, an increase of 8 percent on a reported basis and 11 percent on a constant currency basis, compared to the first half of 2022.

Net income for the second quarter was $169 million compared to $148 million a year ago.

David J. Endicott, Alcon's chief executive officer, said, "Our robust second quarter results reflect the durability of our markets, the commercial excellence of our team and our unwavering focus on innovation."

Endicott said "By successfully executing our strategy around the world and across both franchises, we are further strengthening our leadership position in eyecare, making us more resilient in a complex global economy and better positioned to seize new opportunities to advance patient care and deliver shareholder value."

For the second 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 basis and 15 percent on a constant currency basis, versus the second quarter of 2022. Vision Care net sales included 4 percentage points of contribution from products acquired in 2022.

Contact lenses net sales were $594 million, an increase of 9 percent, led by continued growth in silicone hydrogel contact lenses, including the Precision1 and Total product families, and price increases. Growth was partially offset by unfavorable currency impacts of 1 percent. Contact lenses net sales increased 10 percent constant currency.

Ocular health net sales were $426 million, an increase of 19 percent, primarily driven by the portfolio of eye drops, including acquired ophthalmic pharmaceutical products, price increases and ongoing recovery from supply chain challenges in contact lens care. Growth was partially offset by unfavorable currency impacts of 3 percent. Ocular health net sales increased 22 percent constant currency, including 10 percentage points from products acquired in 2022.

For the first half of 2023, Vision Care net sales were $2.0 billion, an increase of 13 percent, including 5 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 second quarter of 2023, Surgical net sales, which include implantables, consumables and equipment/other, were $1.4 billion, an increase of 7 percent on a reported basis and 10 percent on a constant currency basis versus the second quarter of 2022.

Implantables net sales were $437 million, a decrease of 2 percent. Implantables net sales increased 5 percent excluding negative impacts of 4 percent from currency and 3 percent from the residual impact of an insurance reimbursement change in South Korea that took effect April 1, 2022. Growth in international markets was partially offset by other market entrants in the U.S. Implantables net sales increased 2 percent constant currency.

Consumables net sales were $714 million, an increase of 11 percent, reflecting favorable market conditions across geographies and price increases. Equipment/other net sales were $231 million, also an increase of 11 percent, reflecting continued strong demand for cataract equipment in international markets and higher service revenues.

For the first half of 2023, surgical net sales were $2.7 billion, an increase of 5 percent. Excluding unfavorable currency impacts of 4 percent, Surgical net sales increased 9 percent in constant currency.

Second quarter 2023 operating income was $270 million and operating margin was 11.2 percent. Second quarter 2023 core operating margin was 19.9 percent. First half 2023 operating income was $538 million and operating margin was 11.4 percent, which increased 1.2 percentage points on a reported basis and 2.6 percentage points on a constant currency basis.
 
First half 2023 core operating margin was 20.3 percent, an increase of 0.8 percentage points. Core operating margin increased 2.0 percentage points on a constant currency basis.

Alcon ended the first half of 2023 with a cash position of $661 million. Based on strong operational performance and improved outlook, the company raised full year 2023 sales and core diluted EPS guidance to $9.3 billion to $9.5 billion.