Filing Flows › Bausch Health Companies (BHC) › Q3 2025
Bausch Health Companies (BHC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Bausch Health Companies (BHC) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), +7% from a year earlier and +6% from the quarter before. Operating margin was 23.1%, net earnings $179M (6.7% of revenue).
Bausch Health Companies, Q3 2025: revenue $2.7B (+7% year over year), operating margin 23.1%, net earnings $179M, operating cash flow $405M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | +6% | +7% |
| Operating profit | $619M | +39% | +95% |
| Net earnings | $179M | +21% | — |
| Operating cash flow | $405M | +40% | 0% |
| Free cash flow | $314M | +65% | -6% |
What changed
Revenue was $2.7B in Q3 2025, up 7% year over year and up 6% from the previous quarter. Product sales was the largest line at 99% of revenue. Product sales added $0.17B year over year (up 7%), 102% of the total change. Other revenues declined 14%.
Operating profit was $0.62B, a 23.1% margin (up 10.4 points year over year). Of the extra revenue versus a year earlier, 176% reached operating profit, above the 13% margin then. Total costs fell 6% while revenue rose 7%. The fastest-growing cost line was Research & development (+14%). Net earnings were $0.18B. The effective tax rate was 17.0%.
Operating cash flow was $0.41B (roughly flat year over year), 224% of net earnings. Non-cash charges added back $0.31B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.12B. Capital expenditures of $0.09B left free cash flow of $0.31B.
Questions
What was Bausch Health Companies' revenue in the third quarter 2025?
Bausch Health Companies (BHC) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), +7% from a year earlier and +6% from the quarter before.
Was Bausch Health Companies profitable in the third quarter 2025?
Operating profit was $619M (23.1% of revenue) and net earnings $179M.