Filing Flows › Bausch Health Companies (BHC) › Q2 2025
Bausch Health Companies (BHC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Bausch Health Companies (BHC) reported revenue of $2.5B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +12% from the quarter before. Operating margin was 17.5%, net earnings $148M (5.8% of revenue).
Bausch Health Companies, Q2 2025: revenue $2.5B (+5% year over year), operating margin 17.5%, net earnings $148M, operating cash flow $289M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +12% | +5% |
| Operating profit | $444M | +61% | +14% |
| Net earnings | $148M | — | 15× |
| Operating cash flow | $289M | +37% | -24% |
| Free cash flow | $190M | +98% | -37% |
What changed
Revenue was $2.5B in Q2 2025, up 5% year over year and up 12% from the previous quarter. Product sales was the largest line at 99% of revenue. Product sales added $0.12B year over year (up 5%), 98% of the total change.
Operating profit was $0.44B, a 17.5% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 16% margin then. Total costs grew 4% against revenue growth of 5%. Net earnings were $0.15B, up 1380% year over year ($0.13B including minority interests, which bore $0.02B of losses). The effective tax rate was 8.6%.
Operating cash flow was $0.29B (down 24% year over year), 226% of net income including minority interests. Non-cash charges added back $0.31B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.19B. Capital expenditures of $0.10B left free cash flow of $0.19B.
Questions
What was Bausch Health Companies' revenue in the second quarter 2025?
Bausch Health Companies (BHC) reported revenue of $2.5B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +12% from the quarter before.
Was Bausch Health Companies profitable in the second quarter 2025?
Operating profit was $444M (17.5% of revenue) and net earnings $148M.