Alcon Inc (ALC)

New Product Launches Drive Alcon's First-Quarter 2026 Growth as Momentum from Unity and Tryptyr BuildsMay 5, 2026 4:30 PM
Business Wire First-quarter 2026 sales of $2.7 billion, up 10% on a reported basis, or up 6% constant currency1 (cc), versus first-quarter 2025 First-quarter 2026 diluted EPS of $0.39; core diluted EPS2 of $0.85 Dividend of 0.28 CHF per share approved at AGM Announced new $1.5 billion share repurchase authorization over 3 years Ad Hoc Announcement Pursuant to Art. 53 LR Alcon (SIX/NYSE:ALC), the global leader in eye care, reported its financial results for the three months ending March 31, 2026. For the first quarter of 2026, sales were $2.7 billion, up 10% on a reported basis and up 6% on a constant currency basis1, as compared to the same quarter of the previous year. Alcon reported diluted earnings per share of $0.39 and core diluted earnings per share2 of $0.85 in the first quarter of 2026. “2026 is off to a solid start, driven by strong performance from our new product launches, including Unity VCS and CS, PanOptix Pro, Tryptyr and Precision7. Combined with the resilience of our balanced portfolio, we are well positioned to navigate market variability and maintain consistent performance,” said David J. Endicott, Alcon's Chief Executive Officer. “Our innovation remains a key growth engine, delivering differentiated technologies that reinforce our leadership in eye care and support sustained revenue growth and margin expansion.” First-quarter 2026 key figures   Three months ended March 31     2026   2025 Net sales ($ millions)   2,685   2,451 Operating margin (%)   10.9%   19.1% Diluted earnings per share ($)   0.39   0.70 Core results (non-IFRS measure)2         Core operating margin (%)   21.2%   20.8% Core diluted earnings per share ($)   0.85   0.73 Cash flows ($ millions)         Net cash flows from operating activities   418   384 Free cash flow (non-IFRS measure)3   279   278 1. Constant currency (cc) is a non-IFRS measure. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section. 2. Core results, such as core gross margin, core operating income, core operating margin and core diluted EPS, are non-IFRS measures. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section. 3. Free cash flow is a non-IFRS measure. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section. First-quarter 2026 results Reported net sales for the first quarter of 2026 were $2.7 billion, up 10% versus the first quarter of 2025. Excluding favorable currency impacts of 4%, sales were up 6% on a constant currency basis. The following table highlights net sales by segment for the first quarter of 2026:     Three months ended
March 31   Change % ($ millions unless indicated otherwise)   2026   2025   $   cc1
(non-IFRS
measure)                   Surgical                 Implantables   438   420   4   1 Consumables   769   712   8   4 Equipment/other   253   199   27   23 Total Surgical   1,460   1,331   10   6 Vision Care                 Contact lenses   738   688   7   4 Ocular health   487   432   13   10 Total Vision Care   1,225   1,120   9   6 Net sales   2,685   2,451   10   6 Net sales by segment Surgical Surgical net sales, which include implantables, consumables and equipment/other, were $1.5 billion, an increase of 10% on a reported basis and 6% on a constant currency basis versus the first quarter of 2025. Implantables net sales were $438 million, an increase of 4%. Excluding favorable currency impacts of 3%, Implantables net sales increased 1% constant currency. This growth reflects strong performance by PanOptix Pro, continued competitive pressures in international markets and lower sales in surgical glaucoma. Consumables net sales were $769 million, an increase of 8%. Excluding favorable currency impacts of 4%, Consumables net sales increased 4% constant currency, reflecting soft cataract market conditions and price increases. Equipment/other net sales were $253 million, an increase of 27%. Excluding favorable currency impacts of 4%, Equipment/other net sales increased 23% constant currency. This growth was led by recent equipment launches, including the Unity platform. Vision Care Vision Care net sales, which include contact lenses and ocular health, were $1.2 billion, an increase of 9% on a reported basis and 6% on a constant currency basis versus the first quarter of 2025. Contact lenses net sales were $738 million, an increase of 7%. Excluding favorable currency impacts of 3%, Contact lenses net sales increased 4% constant currency. This growth reflects product innovation and price increases, partially offset by declines in legacy products. Ocular health net sales were $487 million, an increase of 13%. Excluding favorable currency impacts of 3%, Ocular health net sales increased 10% constant currency. Growth was led by our portfolio of dry eye products, including Tryptyr and Systane. Operating income Operating income was $292 million (-38%, -42% cc), compared to $468 million in the prior year period. Operating margin decreased 8.2 percentage points. The prior year period included gains on fair value remeasurements of investments in associated companies. The current year period included costs associated with efficiency initiatives, impairment charges related to an intangible asset, incremental tariffs, sales and marketing behind new product launches and increased research and development ("R&D"), partially offset by improved operating leverage from higher sales and manufacturing efficiencies. Excluding a positive 0.5 percentage point impact from currency, operating margin decreased 8.7 percentage points on a constant currency basis. Adjustments to arrive at core operating income in the current year period were $277 million, mainly due to $129 million of amortization, $88 million of costs associated with efficiency initiatives, $38 million of impairment charges related to an intangible asset and $21 million of acquisition and integration related items. Adjustments to arrive at core operating income in the prior year period were $43 million, mainly due to $172 million of amortization and $13 million of acquisition and integration related items, partially offset by gains of $142 million on fair value remeasurements of investments in associated companies. Core operating income was $569 million (+11%, +6% cc), compared to $511 million in the prior year period. Core operating margin increased 0.4 percentage points as the current year period included improved operating leverage from higher sales and manufacturing efficiencies, partially offset by incremental tariffs, sales and marketing behind new product launches and increased R&D. Excluding a positive 0.4 percentage point impact from currency, core operating margin was in line with the prior year period on a constant currency basis. Taxes Reported tax expense was $51 million, compared to $64 million in the prior year period, and the average reported tax rate was 21.3%, compared to 15.5% in the prior year period. The prior year period included a non-taxable gain on the fair value remeasurement of an investment in an associated company. Core tax expense was $102 million, compared to $97 million in the prior year period, and the average core tax rate was 19.7%, compared to 21.0% in the prior year period. The decrease in average core tax rate is primarily driven by a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions and the tax effect of an increase of inventory in certain international markets, partially offset by discrete tax expenses in the current year period. Diluted earnings per share Diluted earnings per share of $0.39 decreased 44%, or 50% on a constant currency basis, versus the prior year period. The prior year period included gains of $142 million on fair value remeasurements of investments in associated companies. Core diluted earnings per share of $0.85 increased 16%, or 10% on a constant currency basis, versus the prior year period. Cash flow highlights Net cash flows from operating activities amounted to $418 million for the first three months of 2026, compared to $384 million in the prior year period. Free cash flow was $279 million for the first three months of 2026, compared to $278 million in the prior year period. Capital allocation Dividend On April 30, 2026, at the Company's Annual General Meeting, shareholders approved a dividend of CHF 0.28 per share, which is expected to be paid on or around May 7, 2026. The total dividend payments will amount to a maximum of $177 million using the CHF/USD exchange rate as of April 30, 2026. Share repurchase authorization On May 5, 2026, the Board authorized the repurchase of up to $1.5 billion of the Company’s common shares, par value of CHF 0.04 per share, on a second trading line with the SIX Swiss Exchange. The shares to be acquired under this share buyback program will be cancelled as a return of capital to shareholders. Alcon expects to fund the program through cash generated from operations. The program is subject to customary safe harbor conditions and authorization of the Swiss Takeover Board. The timing and total amount of share repurchases and cancellations will depend upon a variety of factors. The program is expected to be completed over a three-year period, but may be suspended or discontinued at any time. Further information (including official publications in English, German and French) will be available as of May 6, 2026 at https://investor.alcon.com/stock-information/share-repurchase-history/default.aspx. 2026 outlook The Company updated its 2026 outlook as per the table below. 2026 outlook4 as of February as of May Comments Net sales growth vs. prior year (cc)1 (non-IFRS measure) +5% to +7% +5% to +7% Maintained Core operating margin2 change vs. prior year (cc)1 (non-IFRS measure) +70 to +170 bps +70 to +170 bps Maintained Core diluted EPS2 growth vs. prior year (cc)1 (non-IFRS measure) +9% to +12% +10% to +13% Updated This outlook assumes the following: Aggregated markets grow approximately 3% to 4%. A full-year tariff impact, net of mitigating actions, of approximately $100 to $150 million, which is expected to pressure cost of net sales. This reduction in tariff expense versus Alcon's February outlook is expected to be reinvested in the business. This estimate excludes any potential refunds. Exchange rates as of the end of April 2026 prevail through year-end, which remain in line with the Company's February outlook. Non-operating expense5 for FY 2026 is expected to be between $200 and $220 million. The core effective tax rate6 for FY 2026 is expected to be approximately 20%. Capital expenditures are expected to be mid-single digits as a percentage of sales. Approximately 492 million weighted-averaged diluted shares.7 4. The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable effort, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. Refer to the section 'Non-IFRS measures as defined by the Company' for more information. 5. Non-operating income & expense includes interest expense, other financial income & expense and share of loss from associated companies. 6. Core effective tax rate, a non-IFRS measure, is the applicable annual tax rate on core taxable income. For additional information, see the explanation regarding reconciliation of forward-looking guidance in the 'Non-IFRS measures as defined by the Company' section. 7. This share count assumption does not reflect any potential impact from the share repurchase authorization announced on May 5, 2026. Webcast and Conference Call Instructions The Company will host a conference call on May 6, 2026 at 8:00 a.m. Eastern Time / 2:00 p.m. Central European Time to discuss its first-quarter 2026 earnings results. The webcast can be accessed online through Alcon's Investor Relations website, i.e. investor.alcon.com. Listeners should log on approximately 10 minutes in advance. A replay will be available online within 24 hours after the event. To listen the Company's conference call, click on the link: https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2026/Alcons-First-Quarter-2026-Earnings-Call-2026-HSeoMI-KHy/default.aspx The Company's first-quarter 2026 press release, interim financial report and supplemental presentation materials can be found online through Alcon's Investor Relations website, or by clicking on the link: https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2026/Alcons-First-Quarter-2026-Earnings-Call-2026-HSeoMI-KHy/default.aspx Cautionary Note Regarding Forward-Looking Statements This press release contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our 2026 outlook, liquidity, revenue, revenue growth, gross margin, operating margin, core operating margin, core operating margin growth, effective tax rate, foreign currency exchange movements, tariff impact, nonoperating expenses, earnings per share, earnings per share growth, operating cash flow, free cash flow, our plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items such as our market growth assumptions, our social impact and sustainability plans, targets, goals and expectations, and generally, our expectations concerning our future performance. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict such as: cybersecurity breaches and technology failures that could disrupt operations; our ability to effectively manage the risks associated with transformational information technology changes such as the ethical use of artificial intelligence and disruptive technologies and the migration to cloud-based platforms; compliance with data privacy, identity protection and information security laws, particularly with the increased use of artificial intelligence; the impact of a disruption in our global supply chain, including the effect of tariffs, or important facilities, particularly when we single-source or rely on limited sources of supply; our reliance on outsourcing key business functions; the increasingly challenging economic, political and legal environment in China; global and regional economic, financial, monetary, legal, tax, political and social change; our ability to comply with anti-corruption, anti-bribery, export control, trade sanction, or similar laws; our ability to attract and retain qualified personnel; our ability to manage the risks associated with operating as a third party contract manufacturer; our success in completing strategic acquisitions, including equity investments in early-stage companies, on favorable terms or at all, and in integrating acquired businesses; the success of our research and development efforts, including our ability to innovate to compete effectively; our ability to manage the rapid evolution and adoption of artificial intelligence; terrorism, war and similar events; our ability to forecast sales demand and manage our inventory levels and the changing buying patterns of our customers; pricing pressure from changes in third party payor coverage and reimbursement methodologies; our ability to comply with all laws to which we may be subject; the ability to obtain regulatory clearance and approval of our products as well as compliance with any post-approval obligations, including quality control of our manufacturing; the effect of product recalls or voluntary market withdrawals; our ability to manage social impact and sustainability matters; our ability to properly educate and train healthcare providers on our products; our ability to protect our intellectual property; the accuracy of our accounting estimates and assumptions, including pension and other post-employment benefit plan obligations and the carrying value of intangible assets, and the adequacy of our financial reporting, accounting practices and internal controls; our ability to service our debt obligations; the need for additional financing through the issuance of debt or equity; the effects of litigation, including product liability lawsuits and governmental investigations; legislative, tax and regulatory reform; the impact of being listed on two stock exchanges; the ability to declare and pay dividends; the different rights afforded to our shareholders as a Swiss corporation compared to a US corporation; the effect of maintaining or losing our foreign private issuer status under US securities laws; and the ability to enforce US judgments against Swiss corporations. Additional factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date of its filing, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise. We also undertake no obligation to update the 2026 outlook as circumstances evolve. Intellectual Property This report may contain references to our proprietary intellectual property. All product names appearing in italics or ALL CAPS are trademarks owned by or licensed to Alcon Inc. Product names identified by a "®" or a "™" are trademarks that are not owned by or licensed to Alcon or its subsidiaries and are the property of their respective owners. Non-IFRS measures as defined by the Company Alcon uses certain non-IFRS metrics when measuring performance, including when measuring current period results against prior periods, including core results, percentage changes measured in constant currency, EBITDA, free cash flow and net (debt)/liquidity. Because of their non-standardized definitions, the non-IFRS measures (unlike IFRS measures) may not be comparable to the calculation of similar measures of other companies. These supplemental non-IFRS measures are presented solely to permit investors to more fully understand how Alcon management assesses underlying performance. These supplemental non-IFRS measures are not, and should not be viewed as, a substitute for IFRS measures. Core results Alcon core results, including core operating income and core net income, exclude all amortization and impairment charges of intangible assets, excluding software, product discontinuation charges, net gains and losses on fund investments and equity securities valued at fair value through profit and loss ("FVPL"), fair value adjustments of financial assets in the form of options to acquire a company carried at FVPL, fair value remeasurements of investments in associated companies and certain acquisition related items. The following items that exceed a threshold of $10 million, are not operating expenses necessary to the operation of the business and have costs that will vary over periods are also excluded from core results: integration and divestment related income and expenses, divestment gains and losses, restructuring charges/releases and related items, legal related items, gains/losses on early extinguishment of debt or debt modifications, past service costs for post-employment benefit plans, impairments of property, plant and equipment and software, as well as income and expense items that management deems exceptional and that are or are expected to accumulate within the year to be over a $10 million threshold. Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for certain items such as legal settlements in certain jurisdictions. Alcon believes that investor understanding of its performance is enhanced by disclosing core measures of performance because, since they exclude items that can vary significantly from period to period, the core measures enable a helpful comparison of business performance across periods. For this same reason, Alcon uses these core measures in addition to IFRS and other measures as important factors in assessing its performance. A limitation of the core measures is that they provide a view of Alcon operations without including all events during a period, such as the effects of an acquisition, divestment, or amortization/impairments of purchased intangible assets and restructurings. Constant currency Changes in the relative values of non-US currencies to the US dollar can affect Alcon's financial results and financial position. To provide additional information that may be useful to investors, including changes in sales volume, we present information about changes in our net sales and various values relating to operating and net income that are adjusted for such foreign currency effects. Constant currency calculations have the goal of eliminating two exchange rate effects so that an estimate can be made of underlying changes in the Consolidated Income Statement excluding: the impact of translating the income statements of consolidated entities from their non-US dollar functional currencies to the US dollar; and the impact of exchange rate movements on the major transactions of consolidated entities performed in currencies other than their functional currency. Alcon calculates constant currency measures by translating the current year's foreign currency values for sales and other income statement items into US dollars, using the average exchange rates from the historical comparative period and comparing them to the values from the historical comparative period in US dollars. EBITDA Alcon defines earnings before interest, tax, depreciation and amortization ("EBITDA") as net income excluding income taxes, depreciation of property, plant and equipment (including any related impairment charges), depreciation of right-of-use assets, amortization of intangible assets (including any related impairment charges), interest expense and other financial income and expense. Alcon management primarily uses EBITDA together with net (debt)/liquidity to monitor leverage associated with financial debts. Free cash flow Alcon defines free cash flow as net cash flows from operating activities less cash flow associated with the purchase or sale of property, plant and equipment. Free cash flow is presented as additional information because Alcon management believes it is a useful supplemental indicator of Alcon's ability to operate without reliance on additional borrowing or use of existing cash. Free cash flow is not intended to be a substitute measure for net cash flows from operating activities as determined under IFRS. Net (debt)/liquidity Alcon defines net (debt)/liquidity as current and non-current financial debt less cash and cash equivalents, current investments, including time deposits, and derivative financial instruments. Net (debt)/liquidity is presented as additional information because management believes it is a useful supplemental indicator of Alcon's ability to pay dividends, to meet financial commitments and to invest in new strategic opportunities, including strengthening its balance sheet. Growth rate and margin calculations For ease of understanding, Alcon uses a sign convention for its growth rates such that a reduction in operating expenses or losses compared to the prior year is shown as a positive growth. Gross margins, core gross margins, operating income margins and core operating income margins are calculated based upon net sales unless otherwise noted. Reconciliation of guidance for forward-looking non-IFRS measures The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable efforts, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. These items are uncertain, depend on many factors and could have a material impact on our IFRS results for the guidance period. Financial tables Net sales by region     Three months ended March 31 ($ millions unless indicated otherwise)   2026   2025               United States   1,228 46 %   1,137 46 % International   1,457 54 %   1,314 54 % Net sales   2,685 100 %   2,451 100 % Consolidated Income Statement (unaudited)     Three months ended March 31 ($ millions except earnings per share)   2026 2025         Net sales   2,685   2,451   Other revenues   21   22   Net sales and other revenues   2,706   2,473   Cost of net sales   (1,163 ) (1,071 ) Cost of other revenues   (18 ) (19 ) Gross profit   1,525   1,383   Selling, general & administration   (882 ) (813 ) Research & development   (245 ) (222 ) Other income   11   149   Other expense   (117 ) (29 ) Operating income   292   468   Interest expense   (52 ) (49 ) Other financial income & expense   2   9   Share of (loss) from associated companies   (2 ) (14 ) Income before taxes   240   414   Taxes   (51 ) (64 ) Net income   189   350   Net income attributable to:       Shareholders of Alcon Inc.   189   350   Non-controlling interests   —   —           Earnings per share ($)(1) Basic   0.39   0.71   Diluted   0.39   0.70           Weighted average number of shares outstanding (millions) Basic   487.2   495.1   Diluted   490.2   498.0   (1) Earnings per share is calculated on the amount of net income attributable to shareholders of Alcon Inc. Segment contribution     Three months ended March 31         Change % ($ millions unless indicated otherwise)   2026 2025 $ cc(1)
(non-IFRS
measure)             Surgical segment contribution   367   336   9   4   As % of net sales   25.1   25.2       Vision Care segment contribution   294   281   5   2   As % of net sales   24.0   25.1       Not allocated to segments   (369 ) (149 ) (148 ) (145 ) Operating income   292   468   (38 ) (42 ) Core adjustments (non-IFRS measure)(1)   277   43       Core operating income (non-IFRS measure)(1)   569   511   11   6   (1) Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables. Operating income     Three months ended March 31         Change % ($ millions unless indicated otherwise)   2026   2025   $ cc(1)
(non-IFRS
measure)             Cost of net sales   (1,163 ) (1,071 ) (9 ) (6 ) Gross profit   1,525   1,383   10   6   Gross margin (%)   56.8   56.4       Selling, general & administration   (882 ) (813 ) (8 ) (5 ) Research & development   (245 ) (222 ) (10 ) (8 ) Other income   11   149   (93 ) (92 ) Other expense   (117 ) (29 ) nm nm Operating income   292   468   (38 ) (42 ) Operating margin (%)   10.9   19.1                   Core results (non-IFRS measure)(1)           Core gross profit   1,691   1,550   9   5   Core gross margin (%)   63.0   63.2       Core operating income   569   511   11   6   Core operating margin (%)   21.2   20.8       nm = not meaningful (1) Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables. Non-operating income & expense     Three months ended March 31         Change % ($ millions unless indicated otherwise)   2026   2025   $ cc(1)
(non-IFRS
measure)             Operating income   292   468   (38 ) (42 ) Interest expense   (52 ) (49 ) (6 ) (4 ) Other financial income & expense   2   9   (78 ) (83 ) Share of (loss) from associated companies   (2 ) (14 ) 86   85   Income before taxes   240   414   (42 ) (48 ) Taxes   (51 ) (64 ) 20   28   Net income   189   350   (46 ) (51 ) Net income attributable to:           Shareholders of Alcon Inc.   189   350   (46 ) (51 ) Non-controlling interests   —   —   —   —   Basic earnings per share ($)(2)   0.39   0.71   (45 ) (50 ) Diluted earnings per share ($)(2)   0.39   0.70   (44 ) (50 )             Core results (non-IFRS measure)(1)           Core taxes   (102 ) (97 ) (5 ) —   Core net income   415   365   14   8   Core net income attributable to:           Shareholders of Alcon Inc.   415   365   14   8   Non-controlling interests   —   —   —   —   Core basic earnings per share ($)(2)   0.85   0.74   15   10   Core diluted earnings per share ($)(2)   0.85   0.73   16   10   (1) Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables. (2) Earnings per share and core earnings per share are calculated on the amount of net income and core net income, respectively, attributable to shareholders of Alcon Inc. Reconciliation of IFRS results to core results (non-IFRS measure) Three months ended March 31, 2026 ($ millions except earnings per share) IFRS
results Amortization
of certain
intangible
assets(1) Impairments(2) Acquisition and
integration
related items(4) Efficiency
measures(5) Other
items(6) Core results
(non-IFRS
measure) Gross profit 1,525   127   38   1   —   —   1,691   Operating income 292   129   38   21   88   1   569   Income before taxes 240   129   38   21   88   1   517   Taxes(7) (51 ) (23 ) (6 ) (4 ) (17 ) (1 ) (102 ) Net income 189   106   32   17   71   —   415   Net income attributable to:               Shareholders of Alcon Inc. 189   106   32   17   71   —   415   Non-controlling interests —   —   —   —   —   —   —   Basic earnings per share ($)(8) 0.39             0.85   Diluted earnings per share ($)(8) 0.39             0.85   Basic - weighted average shares outstanding (millions)(8) 487.2             487.2   Diluted - weighted average shares outstanding (millions)(8) 490.2             490.2   Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables. Three months ended March 31, 2025 ($ millions except earnings per share) IFRS
results Amortization of
certain intangible
assets(1) Gains on
investments in
associated
companies(3) Acquisition and
integration
related items(4) Other
items(6) Core results
(non-IFRS
measure) Gross profit 1,383   167   —   —   —   1,550   Operating income 468   172   (142 ) 13   —   511   Income before taxes 414   172   (142 ) 13   5 462   Taxes(7) (64 ) (30 ) —   (3 ) —   (97 ) Net income 350   142   (142 ) 10   5   365   Net income attributable to:             Shareholders of Alcon Inc. 350   142   (142 ) 10   5   365   Non-controlling interests —   —   —   —   —   —   Basic earnings per share ($)(8) 0.71           0.74   Diluted earnings per share ($)(8) 0.70           0.73   Basic - weighted average shares outstanding (millions)(8) 495.1           495.1   Diluted - weighted average shares outstanding (millions)(8) 498.0           498.0   Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables. Explanatory footnotes to IFRS to core reconciliation tables (1) Includes amortization for all intangible assets other than software. (2) Includes impairment charges related to intangible assets. (3) For the three months ended March 31, 2025, includes gains on fair value remeasurements of investments in associated companies. (4) For the three months ended March 31, 2026, Gross profit includes the amortization of inventory fair value adjustments related to an acquisition. Operating income also includes $20 million of direct acquisition costs. Acquisition costs include third party professional services for legal fees and other transaction related costs.   For the three months ended March 31, 2025, Operating income includes $7 million of direct acquisition costs and $6 million of integration related costs related to acquisitions. Acquisition costs include third party professional services for banker, legal, accounting and due diligence fees. Integration related costs include severance of $3 million, accelerated equity-based compensation expense of $2 million and third party professional services of $1 million. (5) For the three months ended March 31, 2026, includes restructuring costs, third party consulting fees and other direct costs related to efficiency initiatives. These efficiency measures were announced in February 2026 and implementation is expected to be completed this year. (6) For the three months ended March 31, 2026, Operating income primarily includes the amortization of option rights.   For the three months ended March 31, 2025, Income before taxes includes core adjustments recognized for Aurion in Share of (loss) from associated companies. The expenses were incurred upon change in control from Alcon's acquisition of a majority interest in Aurion and include accelerated equity-based compensation expense of $2 million, third party professional services of $2 million for legal and accounting fees and third party bank fees of $1 million. (7) For the three months ended March 31, 2026, total tax adjustments of $51 million include tax associated with operating income core adjustments and discrete tax items. Tax associated with operating income core adjustments of $277 million totaled $50 million with an average tax rate of 18.1%. Core tax adjustments for discrete tax items totaled $1 million.   For the three months ended March 31, 2025, operating income core adjustments totaled $43 million. Excluding the non-taxable gain of $136 million on fair value remeasurement of Alcon's investment in Aurion, the core adjustments totaled $179 million. The associated tax effect amounted to $33 million with an average tax rate of 18.4%. (8) Core basic earnings per share is calculated using core net income attributable to shareholders of Alcon Inc. and the weighted-average shares of common stock outstanding during the period. Core diluted earnings per share also contemplate dilutive shares associated with unvested equity-based awards as described in Note 5 to the Condensed Consolidated Interim Financial Statements. EBITDA (non-IFRS measure)     Three months ended March 31 ($ millions)   2026   2025           Net income   189   350   Taxes   51   64   Depreciation of property, plant & equipment   108   98   Depreciation of right-of-use assets   24   21   Amortization of intangible assets   152   191   Impairments of property, plant & equipment and intangible assets   38   —   Interest expense   52   49   Other financial income & expense   (2 ) (9 ) EBITDA   612   764   Cash flow and net (debt)/liquidity (non-IFRS measure)     Three months ended March 31 ($ millions)   2026   2025           Net cash flows from operating activities   418   384   Net cash flows used in investing activities   (218 ) (578 ) Net cash flows used in financing activities   (133 ) (96 ) Effect of exchange rate changes on cash and cash equivalents   (16 ) 26   Net change in cash and cash equivalents   51   (264 ) Change in derivative financial instrument assets   13   (7 ) Change in time deposits with original maturity greater than three months   1   (153 ) Change in current and non-current financial debts   3   (60 ) Change in net (debt)   68   (484 ) Net (debt) at January 1   (3,125 ) (2,802 ) Net (debt) at March 31   (3,057 ) (3,286 ) Net (debt)/liquidity (non-IFRS measure) ($ millions) At March 31, 2026   At December 31, 2025   Current financial debt (577 ) (575 ) Non-current financial debt (4,157 ) (4,162 ) Total financial debt (4,734 ) (4,737 )           Less liquidity:         Cash and cash equivalents 1,578   1,527   Time deposits with original maturity greater than three months 81   80   Derivative financial instruments 18   5   Total liquidity 1,677   1,612   Net (debt) (3,057 ) (3,125 ) Free cash flow (non-IFRS measure) The following is a summary of free cash flow for the three months ended March 31, 2026 and 2025, together with a reconciliation to net cash flows from operating activities, the most directly comparable IFRS measure:   Three months ended March 31 ($ millions) 2026     2025   Net cash flows from operating activities 418     384   Purchase of property, plant & equipment (139 )   (106 ) Free cash flow 279     278   About Alcon Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of people in over 140 countries and territories each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com. Connect with us on Facebook LinkedIn View source version on businesswire.com: https://www.businesswire.com/news/home/20260501516196/en/ Investor Relations
Daniel Cravens
Allen Trang
+ 41 589 112 110 (Geneva)
+ 1 817 615 2789 (Fort Worth)
investor.relations@alcon.com Media Relations
Steven Smith
+ 41 589 112 111 (Geneva)
+ 1 817 551 8057 (Fort Worth)
globalmedia.relations@alcon.com Original: New Product Launches Drive Alcon's First-Quarter 2026 Growth as Momentum from Unity and Tryptyr Builds

Systane se joint aux Blue Jays de Toronto à titre de goutte oculaire officielle pour sensibiliser les Canadiens à la sécheresse oculaireApril 7, 2026 12:32 PM
Business Wire

Un nouveau partenariat visant à sensibiliser les gens à la sécheresse oculaire, une condition qui touche environ 8,5 millions de Canadiens1, et aider les amateurs à regarder chaque partie dans le plus grand confort.



Cette saison, Alcon, le chef de file mondial en matière de soins oculaires qui se consacre à aider les gens à voir avec clarté, a annoncé un partenariat entre les Blue Jays de Toronto et SystaneMD en tant que gouttes oculaires officielles de l’équipe. Le partenariat vise à aider les Canadiens à reconnaître les signes de la sécheresse oculaire et à regarder chaque partie dans le plus grand confort.

Ce communiqué de presse contient des éléments multimédias. Voir le communiqué complet ici : https://www.businesswire.com/news/home/20260407011578/fr/Systane se joint aux Blue Jays de Toronto à titre de goutte oculaire officielle pour sensibiliser les Canadiens à la sécheresse oculaire
Pour les 8,5 millions de Canadiens aux prises avec la sécheresse oculaire, des symptômes tels que des picotements, une sensation de brûlure, de la fatigue, une irritation et un larmoiement peuvent se manifester lors des activités quotidiennes, y compris le visionnement de sports en direct1,4. Pourtant, de nombreuses personnes ne reconnaissent pas immédiatement ces symptômes comme étant ceux de la sécheresse oculaire5 ou ne réalisent pas qu’une simple prise en charge de leurs symptômes peut les aider à profiter d’un confort exceptionnel lors des moments les plus mémorables de la saison.


Alors que les Blue Jays de Toronto célèbrent leur 50e saison historique, les amateurs partout au Canada se préparent à vivre l’expérience qui rend le baseball si emblématique – des après-midi ensoleillés au stade, des manches qui vous tiennent en haleine et les plus beaux jeux dont on parle longtemps après le match.


Du premier lancer jusqu’à la dernière manche, le baseball captive l’attention des partisans pendant des heures. Les longues parties, les lumières vives des stades et le visionnement prolongé de l’écran peuvent accroître la fatigue oculaire2,3, et lorsque les yeux deviennent secs, il peut être plus difficile pour les amateurs de suivre activement l’action.


« Une saison comme celle-ci nous invite à nous immerger pleinement dans le moment, surtout lorsque les Blue Jays inscrivent 50 saisons de baseball à leur actif », a déclaré Vanessa Johari Hansen, cheffe de franchise, Soins oculaires. Alcon Canada. « La sécheresse oculaire est une affection courante et souvent négligée, qui peut perturber une expérience plus que les gens ne le réalisent. Grâce à ce partenariat, nous aidons les Canadiens à reconnaître rapidement les signes de sécheresse oculaire afin qu’ils puissent profiter en tout confort des moments qui marqueront les esprits au cours de la saison. »


« Nos partisans manifestent une passion intense à chaque match », a déclaré Mark Ditmars, vice-président des partenariats d’entreprise, Blue Jays de Toronto. « Alors que nous célébrons cette saison marquante, nous sommes heureux d’accueillir Systane comme partenaire officiel des Blue Jays de Toronto. Ensemble, nous sensibiliserons les partisans à la sécheresse oculaire pour nous assurer qu’ils puissent regarder nos matchs en tout confort, qu’ils encouragent l’équipe directement au stade ou à la maison. »


Grâce aux activations de marketing sportif, aux expériences numériques et aux initiatives nationales de sensibilisation, le partenariat aidera à véhiculer le message sur la sécheresse oculaire auprès de millions d’amateurs canadiens tout au long de la saison, qu’ils suivent le match au stade ou à la maison.


Une prise en charge efficace de la sécheresse oculaire joue un rôle important dans le soutien du confort visuel lors des activités quotidiennes, y compris le visionnement de sports en direct. En tant que marque la plus recommandée par les médecins et les pharmaciens dans la catégorie des produits pour le soulagement de la sécheresse oculaire au Canada6, Systane est une goutte oculaire de confiance conçue avec une combinaison unique d’ingrédients pour offrir un soulagement efficace des symptômes de la sécheresse oculaire7-10.


Alors que les Blue Jays de Toronto célèbrent cinq décennies de moments inoubliables au sein de la ligue de baseball, Systane est fier de soutenir les partisans tout au long de la saison en les aidant à profiter d’un confort exceptionnel pour ne rien manquer des faits saillants durant les matchs.


Renseignements importants sur la gamme de produits SystaneMD


Les gouttes oculaires lubrifiantes Systane sont éprouvées en clinique pour réduire les symptômes de la sécheresse oculaire, procurant un soulagement et un confort rapides et durables. Systane est la marque de larmes artificielles no 1 au monde11. Systane COMPLET procure un soulagement multi-symptômes de tous les types de sécheresse oculaire9,12,13. Systane HYDRATANT procure un soulagement durable des symptômes chez les personnes souffrant de sécheresse oculaire modérée et chronique*14,17,20 ou chez les patients en convalescence après une chirurgie de la cataracte et qui recherchent un soulagement de la sécheresse oculaire15,16. SystaneMD ULTRA procure un soulagement rapide17,18 de la sécheresse oculaire chez les patients qui présentent une déficience aqueuse18,19. Pour en savoir plus, visitez le site https://systane.myalcon.com/fr-ca/.


À propos d’Alcon


Alcon aide les gens à voir avec clarté. En tant que chef de file mondial des soins oculaires, avec un héritage qui s’étend sur plus de 75 ans, nous offrons la gamme de produits la plus vaste pour améliorer la vue et la vie des gens. Chaque année, nos produits chirurgicaux et nos produits de soins oculaires touchent la vie de plus de 260 millions de personnes aux prises avec des affections comme la cataracte, le glaucome, les maladies rétiniennes et les erreurs de réfraction, dans plus de 140 pays. Nos plus de 25 000 associés améliorent la qualité de vie grâce à des produits novateurs, des partenariats avec des professionnels des soins oculaires et des programmes qui favorisent l’accès à des soins oculaires de qualité. Apprenez-en plus en visitant le site www.alcon.ca/fr.


* Données in vitro.


Références



Chan C, Ziai S, Myageri V, et al. Economic burden and loss of quality of life from dry eye disease in Canada. BMJ Open Ophthalmol. 2021;6(1):e000709. doi:10.1136/bmjophth-2021-000709.



Institut national canadien pour les aveugles. Dry eye. INCA. Consulté le 24 février 2026. https://www.cnib.ca/en/dry-eye.



Mehra D, Galor A. Digital Screen Use and Dry Eye: A Review. Asia Pac J Ophthalmol (Phila). 2020;9(6):491-497. doi:10.1097/APO.0000000000000328.



National Eye Institute. Facts about dry eye. National Institutes of Health. Publié en septembre 2015. https://www.nei.nih.gov/sites/default/files/health-pdfs/factsaboutdryeye.pdf



Données internes d’Alcon. REF-02584. 2019.



Données internes d’Alcon. REF-29181. 2025.



Srinivasan S, Venkiteshwar M. A Decade of Effective Dry Eye Disease Management with Systane Ultra (Polyethylene Glycol/Propylene Glycol with Hydroxypropyl Guar) Lubricant Eye Drops Clin Ophthalmol. 2021;15:2421-2435. doi:10.2147/OPTH.S294427.



Srinivasan S, Garofalo R, Williams R. Safe and Effective Management of Dry Eye Symptoms with Hydroxypropyl Guar and Hyaluronic Acid Dual-Polymer Lubricating Eye Drops: A Review of Preclinical and Clinical Studies Clin Ophthalmol. 2023;17:3883-3898. doi:10.2147/OPTH.S428725/



Bickle K, Miller JR, Tauber J, Awisi-Gyau D. Multi-symptom relief with Propylene Glycol-Hydroxypropyl-Guar Nanoemulsion lubricant eye drops in subjects with dry eye disease: A post-marketing prospective study. Ophthalmol Ther. 2024;13(2):481-494. doi:10.1007/s40123-023-00853-3



Springs CL. Novel ocular lubricant containing an intelligent delivery system: details of its mechanism of action. Dans : Baudouin C, Aragona P, eds. Developments in Ophthalmology. Vol 45. Bâle, Suisse : Karger; 2010:139-147.



Données internes d’Alcon. REF-19808. 2025.



Silverstein S, Yeu E, Tauber J, Guillon M, Jones L, Galarreta D, et al. Symptom relief following a single dose of propylene glycol–hydroxypropyl guar nanoemulsion in patients with dry eye disease: a phase IV, multicenter trial. Clin Ophthalmol. 2020;14:3167-3177. doi:10.2147/OPTH.S263362



Données internes d’Alcon. REF-20875. 2023.



Rolando M, Autori S, Badino F, Barabino S. Protecting the ocular surface and improving the quality of life of dry eye patients: a study of the efficacy of an HP-guar–containing ocular lubricant in a population of dry eye patients. J. Ocul. Pharmacol. Ther. 2009;25(3):271-278. doi:10.1089/jop.2008.0026



Données internes d’Alcon. REF-23974. 2024.



Données internes d’Alcon. REF-23973. 2024



Davitt WF, Bloomenstein M, Christensen M, Martin AE. Efficacy in patients with dry eye after treatment with a new lubricant eye drop formulation. J Ocul Pharmacol Ther. 2010;26(4):347-353. doi:10.1089/jop.2010.0025.



Aguilar A, Berra M, Trédicce J, Berra A. Efficacy of polyethylene glycol–propylene glycol–based lubricant eye drops in reducing squamous metaplasia in patients with dry eye disease. Clin Ophthalmol. 2018;12:1443-1449. doi:10.2147/OPTH.S164888.



Moon SW, Hwang JH, Chung SH, Nam KH. The impact of artificial tears containing hydroxypropyl guar on the mucous layer. Cornea. 2010;29(12):1430-1435.



Rangarajan R, Kraybill B, Ogundele A, Ketelson HA. Effects of a Hyaluronic Acid/Hydroxypropyl Guar Artificial Tear Solution on Protection, Recovery, and Lubricity in Models of Corneal Epithelium. J Ocul Pharmacol Ther. 2015;31(8):491-497. doi:10.1089/jop.2014.0164



Communiquez avec nous sur

Facebook

LinkedIn

Consultez la version source sur businesswire.com : https://www.businesswire.com/news/home/20260407011578/fr/
Relations avec les médias

Alcon États-Unis

Luiza Barros

luiza.barros@alcon.com


Relations publiques NATIONAL au Canada (pour Alcon)

Sasha Sheludko

ssheludko@national.ca


Original: Systane se joint aux Blue Jays de Toronto à titre de goutte oculaire officielle pour sensibiliser les Canadiens à la sécheresse oculaire

Alcon Launches Clareon TruPlus, Enhanced Design Monofocal and Toric IOLs, at ASCRS 2026April 6, 2026 8:03 AM
Business Wire

TruPlus is designed to increase depth of focus while maintaining the high-quality distance vision surgeons expect from a monofocal IOL1,2



TruPlus demonstrates higher distance image quality across pupil sizes and lighting conditions than TECNIS Eyhance3,*



At ASCRS, Alcon will also feature more than 60 scientific presentations and peer-to-peer educational symposia



Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, today announced the U.S. launch of Clareon® TruPlus, its new enhanced design monofocal and toric intraocular lens (IOL), at the American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting in Washington, D.C. TruPlus expands Alcon’s leading Clareon portfolio, offering surgeons an enhanced design IOL, enabling increased depth of focus without compromising the high-quality distance vision they expect from a monofocal IOL.1,2


Based on bench data, TruPlus has a number of differentiating features over Clareon Monofocal and the leading competitor IOL:4



TruPlus demonstrates a 3.5 letter improvement in simulated visual acuity at -1.5 diopters (66 cm) compared to Clareon Monofocal1,†



TruPlus offers higher distance image quality than TECNIS Eyhance across a range of pupil sizes and lighting conditions3,*



TruPlus exceeds the ISO upper requirement for distance image quality1,2,5



TruPlus demonstrates a lower glare and halo profile than TECNIS Eyhance3,6,*



“Cataract surgeons naturally want to offer patients a little more — without trade-offs,” said Terry Kim, M.D., Chief Medical Officer at Alcon. “Surgeons told us they were looking for an enhanced design monofocal that did not sacrifice distance vision quality. TruPlus was developed to address that need, while maintaining the exceptional stability and clarity that define the proven Clareon platform.”


TruPlus leverages proprietary Opti-BalanceTM Technology in the center of the lens to slightly extend the depth of focus.7 This innovative design boosts light energy for an increased depth of focus, while maintaining exceptional distance image quality and a wide refractive landing zone.7,8


With more than 175 million IOLs implanted globally, Alcon is a leader in cataract surgery.9,+ TruPlus joins Alcon’s broad portfolio of Clareon IOLs that includes the number one monofocal; Vivity®, the leading extended depth of focus IOL; PanOptix® Pro and PanOptix, the world’s most implanted trifocal IOL.4,10–12,‡,± TruPlus will launch in additional markets later this year. For more information about the latest addition to Alcon’s IOL portfolio, visit MyAlcon.com or the Alcon booth (#943) during ASCRS.


Studies Highlight the Impact of Alcon’s Latest Innovations


In addition to the launch of Clareon TruPlus, Alcon’s presence at ASCRS will feature more than 60 scientific studies presented by Alcon researchers and independent investigators, including new clinical data supporting recent innovations across cataract, refractive and ocular surface care, such as:



First Clinical Experience with a Novel Phacoemulsification System, authored by Matthew Rauen, M.D.13



Anterior Chamber Stability of a Novel Phacoemulsification System Assessed by Intraoperative OCT and Surgical Microscope Video, authored by Hisaharu Suzuki, M.D.14



Prospective Intraindividual Comparison of Functional Outcomes After Automated Customized Ray Tracing Guided vs. Wavefront Optimized LASIK, authored by Prof. Ramin Khoramnia15



Perioperative Benefits of a Personalized LASIK Approach Using 3D Ray Tracing Technology: A Modified Delphi Study, authored by Mark Lobanoff, M.D.16



High Tear Production Responder Rates Associated with the Novel TRPM8 Agonist Acoltremon: Phase 3 COMET2 and COMET3 Results, authored by Mark S. Milner, M.D.17



Tear Volume and Total Lipid Concentration Following Administration of Acoltremon 0.003%, authored by David Wirta, M.D.18



Optical Bench Comparison of Two Enhanced Monofocal IOLs, authored by Morgan Micheletti, M.D., FACS, ABO19



Direct Comparison of the Visual Disturbances Induced by Two Enhanced Monofocal IOLs, authored by Morgan Micheletti, M.D., FACS, ABO20



Alcon Hosts Peer-to-Peer Events


ASCRS attendees are also invited to attend educational symposia designed to translate innovation into everyday practice. These peer-led discussions are sponsored by Alcon and hosted at the Walter E. Washington Convention Center:



Transforming In-Clinic Care: Innovations in Glaucoma and Dry AMD Management

Peer-led discussion on practical approaches to evolving in-clinic care. Featuring: Toby Tyson M.D., FACS (Moderator), Neel Desai, M.D., Preeya K. Gupta, M.D., and Miguel A. Busquets, M.D., FACS, FASRS. Saturday, April 11 at 7 a.m.



The Perfect Pairing: Secret Ingredients for Cataract Success

Real-world experiences and strategies for optimizing outcomes in modern cataract surgery. Featuring: John Berdahl, M.D. (Moderator), Neda Shamie, M.D., Brett Mueller, M.D., and Eva Kim, M.D. Saturday, April 11 at noon.



Additional experiences and demos for surgeons on our latest innovations will be available at the Alcon booth #943. To register for Alcon-sponsored events and learn more about the Alcon products on display at ASCRS, please visit www.MyAlconatASCRS.com.


About Alcon


Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.


About Clareon® TruPlus IOLs


The Clareon Family of Lenses are artificial lenses implanted in the eye of adult patients following cataract surgery. The Clareon® TruPlus IOLs are designed to allow for clear distance vision. However, you will likely still need glasses for reading and for distance vision, particularly if you already have astigmatism. The Clareon® TruPlus Toric IOLs are designed to correct pre-existing corneal astigmatism, which is the inability of the eye to focus clearly at any distance because of different curvatures on the cornea, and provide distance vision. These IOLs are intended for placement in the capsular bag. Careful preoperative evaluation and sound clinical judgment should be used by the surgeon to decide the risk/benefit ratio before implanting any IOL in a patient with any of the conditions described in the Directions for Use that accompany each IOL. Prior to surgery, physicians should provide prospective patients with a copy of the Patient Information Brochure available from Alcon, informing them of possible risks and benefits associated with these IOLs. Reference the Directions for Use labelling for each IOL for a complete listing of indications, warnings and precautions.


* Trademarks are the property of their respective owners.


† Based on bench Modulation Transfer Function (MTF) simulated defocus curve.


+ Based on unit sales of Alcon IOLs from 1993 through January 2026.


‡ Based on worldwide IOL unit sales, Q1-Q3, 2025.


± Based on worldwide IOL unit sales of AcrySof IQ Vivity and Clareon Vivity IOLs, through Q3, 2025.


References



Alcon data on file, 2025. [REF-28331].



Alcon data on file, 2025. [REF-28335].



Alcon data on file, 2025. [REF-28549].



MarketScope LLC. 2025 IOL Market Report: Global Analysis for 2024 to 2030. St. Louis, MO: MarketScope LLC; 2025.



Alcon data on file, 2025. [REF-28362].



Alcon data on file, 2025. [REF-28699].



Alcon data on file, 2026. [REF-28847].



Alcon data on file, 2025. [REF-28698].



Alcon data on file, 2026. [REF-29048].



Alcon data on file, 2025. [REF-28420].



Alcon data on file, 2025. [REF-28305].



MarketScope LLC. 2025 Premium Cataract Surgery Market Report: Analysis of the Top 13 Markets for 2024 to 2030. St. Louis, MO: MarketScope LLC; 2025.



Rauen MP. Cataract Surgery Patient Comfort: Physiologic IOP with Unity CS/VCS. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Suzuki H, Ong MD, Yalamanchili S, et al. Anterior Chamber Stability of a Novel Phacoemulsification Machine via Intraoperative OCT and Surgical Microscope Videos. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Khoramnia R, Naujokaitis T, Bloeck L, et al. Prospective intraindividual comparison of functional outcomes after automated customized ray-tracing-guided vs. wavefront-optimized laser in situ keratomileusis. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Lobanoff MC, Krueger RR. Perioperative Benefits of a Personalized LASIK Approach Using 3D Ray Tracing Technology: A Modified Delphi Study. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Milner MS, Wirta DL, Paauw J, et al. High Tear Production Responder Rates Associated with the Novel TRPM8 Agonist Acoltremon: Phase 3 COMET2 and COMET3 Results. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Wirta DL, Rocha KM, Bailey LS, et al. Tear Volume and Total Lipid Concentration Following Administration of Acoltremon 0.003%. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Micheletti, M, et al. Optical Bench Comparison of Two Enhanced Monofocal IOLs. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Micheletti, M, et al. Direct comparison of the Visual Disturbances induced by two Enhanced Monofocal IOLs. Presented at the American Society of Cataract and Refractive Surgeons. April 2026; Washington, D.C.



Connect with us on


Facebook


LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20260403946452/en/
Alcon Investor Relations

Daniel Cravens, Allen Trang

+ 41 589 112 110 (Geneva)

+ 1 817 615 2789 (Fort Worth)

investor.relations@alcon.com


Alcon Media Relations

Steven Smith

+ 41 589 112 111 (Geneva)

+ 1 817 551 8057 (Fort Worth)

globalmedia.relations@alcon.com


Original: Alcon Launches Clareon TruPlus, Enhanced Design Monofocal and Toric IOLs, at ASCRS 2026

Alcon Publishes Agenda for 2026 Annual General MeetingApril 2, 2026 4:30 PM
Business Wire

Alcon welcomes its shareholders to its fourth in-person AGM



Alcon Board of Directors proposes to elect R. Scott Herren as a new independent Board member



Proposed dividend of CHF 0.28 cash per share



Alcon (SIX/NYSE: ALC), the global leader in eye care, will hold its Annual General Meeting (AGM) on April 30, 2026.


Alcon is pleased to welcome shareholders to its fourth in-person AGM since becoming an independent, standalone company. The company looks forward to hearing directly from its shareholders at this open format meeting.


Alcon's Board of Directors proposes to the AGM to elect R. Scott Herren as a new independent Board member. An accomplished financial executive with thirty-five years of experience, including most recently as the Chief Financial Officer of Cisco Systems, Inc., R. Scott Herren brings to the Board an extensive background in financial planning and strategy, corporate development, operations of global enterprises and internal controls over financial reporting of public companies. He has been a member of the board of directors of Rubrik, Inc. since 2021, where he is Chair of its Audit Committee, and Workiva Inc. since March 2026. Mr. Herren is also a member of the board of the Georgia Tech Foundation. Previously, he was a member of the board of directors of Proofpoint, Inc. from 2016 to 2020. Mr. Herren served as Executive Vice President and Chief Financial Officer of Cisco Systems, Inc. from 2020 until his retirement in 2025. From 2014 until 2020, Mr. Herren served as Senior Vice President and Chief Financial Officer of Autodesk, Inc. Mr. Herren also held financial and operations leadership positions of increasing responsibility at Citrix Systems, Inc. from 2000 until 2014, FedEx Corporation from 1997 to 2000, and IBM Corporation from 1991 until 1997.


The invitation to the AGM, including explanatory information on individual agenda items, will be published in the Swiss Gazette of Commerce on April 2, 2026, and will be available, together with the Say-on-Pay brochure, the 2025 Annual Report (including the 2025 Compensation Report), the 2025 Report on Non-Financial Matters (which is part of the 2025 Social Impact and Sustainability Report) and additional related material, online at https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2025/2025-Annual-General-Meeting-2025-z3OE4BbV8t/default.aspx.


Agenda for Alcon’s AGM


1. Approval of the operating and financial review of Alcon Inc., the annual financial statements of Alcon Inc. and the consolidated financial statements for 2025


2. Discharge of the members of the Board of Directors and the members of the Executive Committee


3. Appropriation of earnings and declaration of dividend as per the balance sheet of Alcon Inc. of December 31, 2025



If approved by the shareholders, a gross dividend of CHF 0.28 in cash per share will be payable with the first trading day ex-dividend expected to be May 5, 2026 (for shares held through SIX SIS) and May 6, 2026 (for shares held through DTC), the record date expected to be May 6, 2026, and the payout date in Switzerland expected to be on or around May 7, 2026. The Swiss withholding tax of 35% will be deducted from the gross dividend amount. The different ex-dividend dates for shares held through SIX SIS and through DTC are due to the fact that the US settlement practice changed from T+2 to T+1 in 2024.



4. Consultative vote on the 2025 Report on Non Financial Matters


5. Votes on the compensation of the Board of Directors and of the Executive Committee


5.1 Consultative vote on the 2025 Compensation Report


5.2 Binding vote on the maximum aggregate amount of compensation of the Board of Directors for the next term of office, i.e. from the 2026 Annual General Meeting to the 2027 Annual General Meeting


5.3 Binding vote on the maximum aggregate amount of compensation of the Executive Committee for the following financial year, i.e., 2027


6. Re-election and Election of the Chair and the Members of the Board of Directors


6.1 Re-election of F. Michael Ball (as Member and Chair)


6.2 Re-election of Lynn D. Bleil (as Member)


6.3 Re-election of Arthur Cummings (as Member)


6.4 Re-election of Deborah Di Sanzo (as Member)


6.5 Re-election of David J. Endicott (as Member)


6.6 Re-election of Thomas Glanzmann (as Member)


6.7 Re-election of D. Keith Grossman (as Member)


6.8 Re-election of Karen May (as Member)


6.9 Re-election of Ines Pöschel (as Member)


6.10 Re-election of Dieter Spälti (as Member)


6.11 Election of R. Scott Herren (as Member)


7. Re-election of the Members of the Compensation Committee


7.1 Re-election of Thomas Glanzmann


7.2 Re-election of Karen May


7.3 Re-election of Ines Pöschel


8. Re-election of the independent representative


9. Re-election of the statutory auditors


Cautionary Note Regarding Forward-Looking Statements


This press release contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our 2026 outlook, liquidity, revenue, revenue growth, gross margin, operating margin, core operating margin, core operating margin growth, effective tax rate, foreign currency exchange movements, tariff impact, nonoperating expenses, earnings per share, earnings per share growth, operating cash flow, free cash flow, our plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items such as our market growth assumptions, our social impact and sustainability plans, targets, goals and expectations, and generally, our expectations concerning our future performance.


Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict such as: cybersecurity breaches and technology failures that could disrupt operations; our ability to effectively manage the risks associated with transformational information technology changes such as the ethical use of artificial intelligence and disruptive technologies and the migration to cloud-based platforms; compliance with data privacy, identity protection and information security laws, particularly with the increased use of artificial intelligence; the impact of a disruption in our global supply chain, including the effect of tariffs, or important facilities, particularly when we single-source or rely on limited sources of supply; our reliance on outsourcing key business functions; the increasingly challenging economic, political and legal environment in China; global and regional economic, financial, monetary, legal, tax, political and social change; our ability to comply with anti-corruption, anti-bribery, export control, trade sanction, or similar laws; our ability to attract and retain qualified personnel; our ability to manage the risks associated with operating as a third party contract manufacturer; our success in completing strategic acquisitions, including equity investments in early-stage companies, on favorable terms or at all, and in integrating acquired businesses; the success of our research and development efforts, including our ability to innovate to compete effectively; our ability to manage the rapid evolution and adoption of artificial intelligence; terrorism, war and similar events; our ability to forecast sales demand and manage our inventory levels and the changing buying patterns of our customers; pricing pressure from changes in third party payor coverage and reimbursement methodologies; our ability to comply with all laws to which we may be subject; the ability to obtain regulatory clearance and approval of our products as well as compliance with any post-approval obligations, including quality control of our manufacturing; the effect of product recalls or voluntary market withdrawals; our ability to manage social impact and sustainability matters; our ability to properly educate and train healthcare providers on our products; our ability to protect our intellectual property; the accuracy of our accounting estimates and assumptions, including pension and other post-employment benefit plan obligations and the carrying value of intangible assets, and the adequacy of our financial reporting, accounting practices and internal controls; our ability to service our debt obligations; the need for additional financing through the issuance of debt or equity; the effects of litigation, including product liability lawsuits and governmental investigations; legislative, tax and regulatory reform; the impact of being listed on two stock exchanges; the ability to declare and pay dividends; the different rights afforded to our shareholders as a Swiss corporation compared to a US corporation; the effect of maintaining or losing our foreign private issuer status under US securities laws; and the ability to enforce US judgments against Swiss corporations.


Additional factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date of its filing, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise. We also undertake no obligation to update the 2026 outlook as circumstances evolve.


About Alcon


Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of people in over 140 countries and territories each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.


Connect with us on


Facebook

LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20260401787224/en/
Investor Relations

Daniel Cravens

Allen Trang

+ 41 589 112 110 (Geneva)

+ 1 817 615 2789 (Fort Worth)

investor.relations@alcon.com


Media Relations

Steven Smith

+ 41 589 112 111 (Geneva)

+ 1 817 551 8057 (Fort Worth)

globalmedia.relations@alcon.com


Original: Alcon Publishes Agenda for 2026 Annual General Meeting

Alcon and LENSAR, Inc. Agree to Terminate Merger AgreementMarch 16, 2026 4:57 PM
Business Wire
Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, today announced that it has entered into an agreement with LENSAR, Inc. (NASDAQ: LNSR) to terminate the companies’ previously announced merger agreement.


"Alcon continues to believe that the acquisition of LENSAR would have significantly enhanced FLACS innovation and competition to the benefit of surgeons and patients. However, the delay and associated costs of this extended regulatory review, which began nearly a year ago, has rendered the transaction unattractive to pursue further in light of the Federal Trade Commission’s opposition. Alcon remains committed to advancing cataract surgery by delivering technologies that improve efficiency for surgeons and outcomes for patients,” said David J. Endicott, Chief Executive Officer of Alcon.


Cautionary Note Regarding Forward-Looking Statements


This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods.


Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict. Some of these factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements.


Forward-looking statements in this press release speak only as of the date they are made, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise.


About Alcon


Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.


Connect with us on


Facebook


LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20260316607144/en/
Investor Relations

Daniel Cravens, Allen Trang

+ 41 589 112 110 (Geneva)

+ 1 817 615 2789 (Fort Worth)

investor.relations@alcon.com


Media Relations

Steven Smith

+ 41 589 112 111 (Geneva)

+ 1 817 551 8057 (Fort Worth)

globalmedia.relations@alcon.com


Original: Alcon and LENSAR, Inc. Agree to Terminate Merger Agreement

Alcon Delivers Strong Fourth-Quarter 2025 Topline Growth as New Product Launches Accelerate SalesFebruary 24, 2026 4:30 PM
Business Wire

Fourth-quarter 2025 sales of $2.7 billion, up 9% on a reported basis, or up 7% constant currency1 (cc), versus fourth-quarter 2024



Fourth-quarter 2025 diluted EPS of $0.44; core diluted EPS2 of $0.78



Generated $2.3 billion of cash from operations and $1.7 billion of free cash flow3 in full-year 2025



Returned $848 million to shareholders through share repurchases and dividends



Ad Hoc Announcement Pursuant to Art. 53 LR


Alcon (SIX/NYSE:ALC), the global leader in eye care, reported its financial results for the three and twelve month periods ending December 31, 2025. For the fourth quarter of 2025, sales were $2.7 billion, up 9% on a reported basis and up 7% on a constant currency basis1, as compared to the same quarter of the previous year. Alcon reported diluted earnings per share of $0.44 and core diluted earnings per share2 of $0.78 in the fourth quarter of 2025.


"2025 was a pivotal and productive year for Alcon. Despite softer markets, we successfully launched a wave of innovative new products that fueled sales acceleration as the year progressed," said David J. Endicott, Alcon's Chief Executive Officer. "As we look to 2026, we're encouraged by the momentum we're carrying into the year and confident in our ability to continue to deliver sustainable growth and long-term value. Our outlook reflects a balanced view of market conditions combined with the progress made with new product launches, giving us a strong foundation as we move forward."




Fourth-quarter and full-year 2025 key figures






 






Three months ended

December 31






 






Twelve months

ended December 31








 






 






2025






 






2024






 






2025






 






2024








Net sales ($ millions)






 






2,702






 






2,477






 






10,319






 






9,836








Operating margin (%)






 






11.6%






 






15.9%






 






13.2%






 






14.4%








Diluted earnings per share ($)






 






0.44






 






0.57






 






1.98






 






2.05








Core results (non-IFRS measure)2






 






 






 






 






 






 






 






 








Core operating margin (%)






 






19.0%






 






20.1%






 






19.8%






 






20.6%








Core diluted earnings per share ($)






 






0.78






 






0.72






 






3.07






 






3.05








Cash flows ($ millions)






 






 






 






 






 






 






 






 








Net cash flows from operating activities






 






 






 






 






 






2,271






 






2,077








Free cash flow (non-IFRS measure)3






 






 






 






 






 






1,733






 






1,604








1.


Constant currency (cc) is a non-IFRS measure. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section.







2.


Core results, such as core gross margin, core operating income, core operating margin and core diluted EPS, are non-IFRS measures. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section.







3.


Free cash flow is a non-IFRS measure. An explanation of non-IFRS measures can be found in the 'Non-IFRS measures as defined by the Company' section.







Fourth-quarter and full-year 2025 results


Reported net sales for the fourth quarter of 2025 were $2.7 billion, up 9% versus the fourth quarter of 2024. Excluding favorable currency impacts of 2%, sales were up 7% on a constant currency basis. Reported net sales for the full-year 2025 were $10.3 billion, up 5% compared to full-year 2024. Excluding favorable currency impacts of 1%, sales were up 4% on a constant currency basis.


The following table highlights net sales by segment for the fourth quarter and full-year of 2025:




 






 






Three months ended

December 31






 






Change %






 






Twelve months

ended December 31






 






Change %








($ millions unless indicated otherwise)






 






2025






 






2024






 






$






 






cc1

(non-IFRS

measure)






 






2025






 






2024






 






$






 






cc1

(non-IFRS

measure)








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Surgical






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Implantables






 






474






 






456






 






4






 






2






 






1,782






 






1,775






 






—






 






—








Consumables






 






794






 






738






 






8






 






5






 






3,028






 






2,861






 






6






 






5








Equipment/other






 






277






 






229






 






21






 






18






 






941






 






886






 






6






 






6








Total Surgical






 






1,545






 






1,423






 






9






 






6






 






5,751






 






5,522






 






4






 






4








Vision Care






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Contact lenses






 






683






 






638






 






7






 






4






 






2,770






 






2,609






 






6






 






5








Ocular health






 






474






 






416






 






14






 






12






 






1,798






 






1,705






 






5






 






6








Total Vision Care






 






1,157






 






1,054






 






10






 






7






 






4,568






 






4,314






 






6






 






5








Net sales






 






2,702






 






2,477






 






9






 






7






 






10,319






 






9,836






 






5






 






4







Net sales by segment


Fourth quarter


Surgical


Surgical net sales, which include implantables, consumables and equipment/other, were $1.5 billion, an increase of 9% on a reported basis and 6% on a constant currency basis versus the fourth quarter of 2024.



Implantables net sales were $474 million, an increase of 4%. Excluding favorable currency impacts of 2%, Implantables net sales increased 2% constant currency. This growth reflects strong performance by PanOptix Pro in the US, partially offset by continued competitive pressures, particularly in international markets.




Consumables net sales were $794 million, an increase of 8%. Excluding favorable currency impacts of 3%, Consumables net sales increased 5% constant currency. Growth was driven by cataract and vitreoretinal procedural growth, as well as price increases.




Equipment/other net sales were $277 million, an increase of 21%. Excluding favorable currency impacts of 3%, Equipment/other net sales increased 18%. This growth was led by recent equipment launches, including the Unity platform.



Vision Care


Vision Care net sales, which include contact lenses and ocular health, were $1.2 billion, an increase of 10% on a reported basis and 7% on a constant currency basis versus the fourth quarter of 2024.



Contact lenses net sales were $683 million, an increase of 7%. Excluding favorable currency impacts of 3%, Contact lenses net sales increased 4% constant currency. This growth was led by price increases and product innovation, partially offset by declines in legacy products.




Ocular health net sales were $474 million, an increase of 14%. Excluding favorable currency impacts of 2%, Ocular health net sales increased 12% constant currency. Growth was led by our portfolio of dry eye products, including Tryptyr and Systane.



Full year


Surgical


Surgical net sales were $5.8 billion, an increase of 4% on a reported and constant currency basis versus the full-year 2024.



Implantables net sales were $1.8 billion, in line with the prior year period on a reported and constant currency basis. These results reflect the launch of PanOptix Pro in the US, as well as soft market conditions and competitive pressures.




Consumables net sales were $3.0 billion, an increase of 6%. Excluding favorable currency impacts of 1%, Consumables net sales increased 5% constant currency. Growth was driven by vitreoretinal procedural growth and price increases, partially offset by soft cataract market conditions.




Equipment/other net sales were $941 million, an increase of 6% on a reported and constant currency basis, as sales of recently launched equipment, including Unity VCS, were partially offset by declines in legacy equipment.



Vision Care


Vision Care net sales were $4.6 billion, an increase of 6% on a reported basis and 5% on a constant currency basis versus the full-year 2024.



Contact lenses net sales were $2.8 billion, an increase of 6%. Excluding favorable currency impacts of 1%, Contact lenses net sales increased 5% constant currency, primarily driven by price increases and product innovation, partially offset by declines in legacy products.




Ocular health net sales were $1.8 billion, an increase of 5%. Excluding unfavorable currency impacts of 1%, Ocular health net sales increased 6% constant currency. Growth was led by our portfolio of dry eye products, including Tryptyr and Systane. The prior year period included sales of certain eye drops in China which were divested and out-licensed in late 2024.



Operating income


Fourth quarter


Operating income was $313 million (-21%, -27% cc), compared to $395 million in the prior year period. Operating margin decreased 4.3 percentage points. The current year period included sales and marketing investments behind new product launches, increased investment in research and development ("R&D"), including from recent acquisitions, incremental tariffs and acquisition and integration related items, partially offset by favorability from annual incentive compensation and price increases. The prior year period included a net gain related to the divestment of certain product rights in China. Excluding a positive 0.8 percentage point impact from currency, operating margin decreased 5.1 percentage points on a constant currency basis.


Adjustments to arrive at core operating income in the current year period were $201 million, mainly due to $175 million of amortization and $22 million of acquisition and integration related items. Adjustments to arrive at core operating income in the prior year period were $103 million, mainly due to $169 million of amortization, partially offset by a $57 million net gain related to the divestment of certain product rights in China.


Core operating income was $514 million (+3%, -2% cc), compared to $498 million in the prior year period. Core operating margin decreased 1.1 percentage points as the current year period included sales and marketing investments behind new product launches, increased investment in R&D, including from recent acquisitions and incremental tariffs, partially offset by favorability from annual incentive compensation and price increases. Excluding a positive 0.5 percentage point impact from currency, core operating margin decreased 1.6 percentage points on a constant currency basis.


Full year


Operating income was $1.4 billion (-4%, -5% cc), down slightly from the prior year period. Operating margin decreased 1.2 percentage points. The current year period included sales and marketing investments behind new product launches, increased investment in R&D, including from recent acquisitions, incremental tariffs, acquisition and integration related items and product discontinuation charges in Vision Care. The decline in operating margin was partially offset by price increases, fair value remeasurements of investments in associated companies and favorability from annual incentive compensation. The prior year period included a net gain related to the divestment of certain product rights in China. Excluding a positive 0.1 percentage point impact from currency, operating margin decreased 1.3 percentage points on a constant currency basis.


Adjustments to arrive at core operating income in the current year period were $679 million, mainly due to $696 million of amortization, $58 million of acquisition and integration related items and $44 million of product discontinuation charges, partially offset by $142 million on fair value remeasurements of investments in associated companies. Adjustments to arrive at core operating income in the prior year period were $614 million, mainly due to $667 million of amortization, partially offset by a $57 million net gain related to the divestment of certain product rights in China.


Core operating income was $2.0 billion (+1%, 0% cc) in both the current and prior year periods. Core operating margin decreased 0.8 percentage points. The current year period included sales and marketing investments behind new product launches, increased investment in R&D, including from recent acquisitions and incremental tariffs, partially offset by price increases and favorability from annual incentive compensation. Excluding a positive 0.1 percentage point impact from currency, core operating margin decreased 0.9 percentage points on a constant currency basis.


Taxes


Fourth quarter


Reported tax expense was $47 million, compared to $65 million in the prior year period, and the average reported tax rate was 17.8%, compared to 18.6% in the prior year period. Core tax expense was $83 million, compared to $93 million in the prior year period, and the average core tax rate was 17.8%, compared to 20.6% in the prior year period. Both the average reported and core tax rates were lower in the current year period due to a more favorable mix of pre-tax income/(loss) across geographical tax jurisdictions and higher discrete tax benefits in the current year period.


Full year


Reported tax expense was $180 million, compared to $238 million in the prior year period, and the average reported tax rate was 15.5%, compared to 18.9% in the prior year period. Core tax expense was $323 million, compared to $355 million in the prior year period, and the average core tax rate was 17.5%, compared to 19.0% in the prior year period. The average reported tax rate was lower in the current year period due to a non-taxable gain. In addition, both the average reported and core tax rates benefited from higher discrete tax benefits in the current year period.


Diluted earnings per share


Fourth quarter


Diluted earnings per share of $0.44 decreased 23%, or 30% on a constant currency basis, versus the prior year period, primarily due to lower operating income. Core diluted earnings per share of $0.78 increased 8%, or 2% on a constant currency basis, versus the prior year period.


Full year


Diluted earnings per share of $1.98 decreased 3%, or 5% on a constant currency basis, primarily due to lower operating income and higher non-operating income & expense4, partially offset by lower tax expense. Core diluted earnings per share of $3.07 increased 1%, or 0% on a constant currency basis, versus the prior year period.


Cash flow highlights


Net cash flows from operating activities amounted to $2.3 billion for the full-year 2025, compared to $2.1 billion in the prior year period. Free cash flow was $1.7 billion for the full-year 2025, compared to $1.6 billion in the prior year period, primarily due to increased cash flows from operating activities.


Capital allocation


For the full-year 2025, the company returned $848 million to shareholders. Capital returns include the repurchase of approximately 8.4 million shares5 for $682 million and dividend payments of $166 million. Additionally, as of January 20, 2026, the Company completed its $750 million share repurchase program.


Proposed dividend


The Company's Board of Directors proposed a dividend of CHF 0.28 per share, based on 2025 financial results. The Company's shareholders will vote on this proposal at the 2026 Annual General Meeting ("AGM") on April 30, 2026.



4.


Non-operating income & expense includes interest expense, other financial income & expense and share of loss from associated companies.







5.


On February 25, 2025, the Board authorized the repurchase of up to $750 million of the Company’s common shares. Refer to Note 5 of the Condensed Consolidated Interim Financial Statements for details regarding the share repurchase program.







Efficiency measures


The Company has undertaken a series of operational improvements and infrastructure investments to drive efficiencies across the organization. These initiatives have enabled the Company to identify approximately $100 million of run-rate savings, of which approximately $50 million is expected to benefit 2026. The total program cost is estimated at $150 million, with implementation expected to be completed in 2026.


2026 outlook


Beginning with its 2026 outlook, the Company is updating the way it presents guidance to align with the framework and priorities outlined at its 2025 Capital Markets Day. The Company's 2026 outlook is provided in the table below.




2026 outlook6






as of February








Net sales growth vs. prior year (cc)1




(non-IFRS measure)






+5% to +7%








Core operating margin2 change vs. prior year (cc)1




(non-IFRS measure)






+70 to +170 bps








Core diluted EPS2 growth vs. prior year (cc)1




(non-IFRS measure)






+9% to +12%







This outlook assumes the following:



Aggregated markets grow approximately 3% to 4%.



The Company expects a full-year tariff impact, net of mitigating actions, of approximately $125 to $175 million, which is expected to pressure cost of net sales.



Exchange rates as of the end of January 2026 prevail through year-end. As of the end of January, the expected currency impact to:


Net sales growth is +120 basis points,



Core operating margin change is +15 basis points, and



Core diluted EPS growth is +230 basis points.






Non-operating expense4 for FY 2026 is expected to be between $200 and $220 million.



The core effective tax rate7 for FY 2026 is expected to be approximately 20%.



Capital expenditures are expected to be mid-single digits as a percentage of sales.



Approximately 498 million weighted-averaged diluted shares.




6.


The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable effort, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. Refer to the section 'Non-IFRS measures as defined by the Company' for more information.







7.


Core effective tax rate, a non-IFRS measure, is the applicable annual tax rate on core taxable income. For additional information, see the explanation regarding reconciliation of forward-looking guidance in the 'Non-IFRS measures as defined by the Company' section.







Board Elections at Alcon's 2026 AGM


Mr. Scott Maw will not stand for re-election to the Board of Directors at Alcon’s 2026 AGM on April 30, 2026. “Our Board and leadership team are deeply grateful for Scott’s dedication, judgment and commitment to Alcon as one of our founding board members and the Chair of our Audit and Risk Committee,” said F. Michael Ball, Alcon’s Chair of the Board.


The Board of Directors proposes the election of R. Scott Herren, an accomplished financial executive and public company board member who most recently served as Chief Financial Officer for Cisco Systems, Inc. If elected, Mr. Herren is expected to be appointed Chair of the Audit and Risk Committee.


The Board of Directors also proposes the re-election of all other current members of the Board, including the Chair of the Board.


Webcast and Conference Call Instructions


The Company will host a conference call on February 25, 2026 at 8:00 a.m. Eastern Time / 2:00 p.m. Central European Time to discuss its fourth-quarter 2025 earnings results. The webcast can be accessed online through Alcon's Investor Relations website, i.e. investor.alcon.com. Listeners should log on approximately 10 minutes in advance. A replay will be available online within 24 hours after the event. To listen the Company's conference call, click on the link:


https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2026/Alcons-Full-Year-2025-Earnings-Call-2026-WO8uNd9SMd/default.aspx


The Company's fourth-quarter 2025 press release, interim financial report and supplemental presentation materials, as well as its 2025 Annual Report, can be found online through Alcon's Investor Relations website, or by clicking on the link:


https://investor.alcon.com/news-and-events/events-and-presentations/event-details/2026/Alcons-Full-Year-2025-Earnings-Call-2026-WO8uNd9SMd/default.aspx


Additionally, Alcon's 2025 Annual Report is available at https://investor.alcon.com/financials/annual-reports/default.aspx and its 2025 Annual Report on Form 20-F filed today with the US Securities and Exchange Commission on https://investor.alcon.com/financials/sec-filings/default.aspx. Alcon shareholders may receive a hard copy of either of these documents, each of which contains our complete audited financial statements, free of charge, upon request.


Cautionary Note Regarding Forward-Looking Statements


This press release contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our 2026 outlook, liquidity, revenue, revenue growth, gross margin, operating margin, core operating margin, core operating margin growth, effective tax rate, foreign currency exchange movements, tariff impact, nonoperating expenses, earnings per share, earnings per share growth, operating cash flow, free cash flow, our plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items such as our market growth assumptions, our social impact and sustainability plans, targets, goals and expectations, and generally, our expectations concerning our future performance.


Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict such as: cybersecurity breaches and technology failures that could disrupt operations; our ability to effectively manage the risks associated with transformational information technology changes such as the ethical use of artificial intelligence and disruptive technologies and the migration to cloud-based platforms; compliance with data privacy, identity protection and information security laws, particularly with the increased use of artificial intelligence; the impact of a disruption in our global supply chain, including the effect of tariffs, or important facilities, particularly when we single-source or rely on limited sources of supply; our reliance on outsourcing key business functions; the increasingly challenging economic, political and legal environment in China; global and regional economic, financial, monetary, legal, tax, political and social change; our ability to comply with anti-corruption, anti-bribery, export control, trade sanction, or similar laws; our ability to attract and retain qualified personnel; our ability to manage the risks associated with operating as a third party contract manufacturer; our success in completing strategic acquisitions, including equity investments in early-stage companies, on favorable terms or at all, and in integrating acquired businesses; the success of our research and development efforts, including our ability to innovate to compete effectively; our ability to manage the rapid evolution and adoption of artificial intelligence; terrorism, war and similar events; our ability to forecast sales demand and manage our inventory levels and the changing buying patterns of our customers; pricing pressure from changes in third party payor coverage and reimbursement methodologies; our ability to comply with all laws to which we may be subject; the ability to obtain regulatory clearance and approval of our products as well as compliance with any post-approval obligations, including quality control of our manufacturing; the effect of product recalls or voluntary market withdrawals; our ability to manage social impact and sustainability matters; our ability to properly educate and train healthcare providers on our products; our ability to protect our intellectual property; the accuracy of our accounting estimates and assumptions, including pension and other post-employment benefit plan obligations and the carrying value of intangible assets, and the adequacy of our financial reporting, accounting practices and internal controls; our ability to service our debt obligations; the need for additional financing through the issuance of debt or equity; the effects of litigation, including product liability lawsuits and governmental investigations; legislative, tax and regulatory reform; the impact of being listed on two stock exchanges; the ability to declare and pay dividends; the different rights afforded to our shareholders as a Swiss corporation compared to a US corporation; the effect of maintaining or losing our foreign private issuer status under US securities laws; and the ability to enforce US judgments against Swiss corporations.


Additional factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date of its filing, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise. We also undertake no obligation to update the 2026 outlook as circumstances evolve.


Intellectual Property


This report may contain references to our proprietary intellectual property. All product names appearing in italics or ALL CAPS are trademarks owned by or licensed to Alcon Inc. Product names identified by a "®" or a "™" are trademarks that are not owned by or licensed to Alcon or its subsidiaries and are the property of their respective owners.


Non-IFRS measures as defined by the Company


Alcon uses certain non-IFRS metrics when measuring performance, including when measuring current period results against prior periods, including core results, percentage changes measured in constant currency, EBITDA, free cash flow and net (debt)/liquidity.


Because of their non-standardized definitions, the non-IFRS measures (unlike IFRS measures) may not be comparable to the calculation of similar measures of other companies. These supplemental non-IFRS measures are presented solely to permit investors to more fully understand how Alcon management assesses underlying performance. These supplemental non-IFRS measures are not, and should not be viewed as, a substitute for IFRS measures.


Core results


Alcon core results, including core operating income and core net income, exclude all amortization and impairment charges of intangible assets, excluding software, product discontinuation charges, net gains and losses on fund investments and equity securities valued at fair value through profit and loss ("FVPL"), fair value adjustments of financial assets in the form of options to acquire a company carried at FVPL, fair value remeasurements of investments in associated companies and certain acquisition related items. The following items that exceed a threshold of $10 million, are not operating expenses necessary to the operation of the business and have costs that will vary over periods are also excluded from core results: integration and divestment related income and expenses, divestment gains and losses, restructuring charges/releases and related items, legal related items, gains/losses on early extinguishment of debt or debt modifications, past service costs for post-employment benefit plans, impairments of property, plant and equipment and software, as well as income and expense items that management deems exceptional and that are or are expected to accumulate within the year to be over a $10 million threshold.


Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for certain items such as legal settlements in certain jurisdictions.


Alcon believes that investor understanding of its performance is enhanced by disclosing core measures of performance because, since they exclude items that can vary significantly from period to period, the core measures enable a helpful comparison of business performance across periods. For this same reason, Alcon uses these core measures in addition to IFRS and other measures as important factors in assessing its performance.


A limitation of the core measures is that they provide a view of Alcon operations without including all events during a period, such as the effects of an acquisition, divestment, or amortization/impairments of purchased intangible assets and restructurings.


Constant currency


Changes in the relative values of non-US currencies to the US dollar can affect Alcon's financial results and financial position. To provide additional information that may be useful to investors, including changes in sales volume, we present information about changes in our net sales and various values relating to operating and net income that are adjusted for such foreign currency effects.


Constant currency calculations have the goal of eliminating two exchange rate effects so that an estimate can be made of underlying changes in the Consolidated Income Statement excluding:



the impact of translating the income statements of consolidated entities from their non-US dollar functional currencies to the US dollar; and




the impact of exchange rate movements on the major transactions of consolidated entities performed in currencies other than their functional currency.



Alcon calculates constant currency measures by translating the current year's foreign currency values for sales and other income statement items into US dollars, using the average exchange rates from the historical comparative period and comparing them to the values from the historical comparative period in US dollars.


EBITDA


Alcon defines earnings before interest, tax, depreciation and amortization ("EBITDA") as net income excluding income taxes, depreciation of property, plant and equipment (including any related impairment charges), depreciation of right-of-use assets, amortization of intangible assets (including any related impairment charges), interest expense and other financial income and expense. Alcon management primarily uses EBITDA together with net (debt)/liquidity to monitor leverage associated with financial debts.


Free cash flow


Alcon defines free cash flow as net cash flows from operating activities less cash flow associated with the purchase or sale of property, plant and equipment. Free cash flow is presented as additional information because Alcon management believes it is a useful supplemental indicator of Alcon's ability to operate without reliance on additional borrowing or use of existing cash. Free cash flow is not intended to be a substitute measure for net cash flows from operating activities as determined under IFRS.


Net (debt)/liquidity


Alcon defines net (debt)/liquidity as current and non-current financial debt less cash and cash equivalents, current investments, including time deposits, and derivative financial instruments. Net (debt)/liquidity is presented as additional information because management believes it is a useful supplemental indicator of Alcon's ability to pay dividends, to meet financial commitments and to invest in new strategic opportunities, including strengthening its balance sheet.


Growth rate and margin calculations


For ease of understanding, Alcon uses a sign convention for its growth rates such that a reduction in operating expenses or losses compared to the prior year is shown as a positive growth.


Gross margins, core gross margins, operating income margins and core operating income margins are calculated based upon net sales unless otherwise noted.


Reconciliation of guidance for forward-looking non-IFRS measures


The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable efforts, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. These items are uncertain, depend on many factors and could have a material impact on our IFRS results for the guidance period.


Financial tables


Net sales by region




 






 






Three months ended December 31






 






Twelve months ended December 31








($ millions unless indicated otherwise)






 






2025






 






2024






 






2025






 






2024








 






 






 






 






 






 






 






 






 






 






 






 






 








United States






 






1,193






44%






 






1,109






45%






 






4,657






45%






 






4,511






46%








International






 






1,509






56%






 






1,368






55%






 






5,662






55%






 






5,325






54%








Net sales






 






2,702






100%






 






2,477






100%






 






10,319






100%






 






9,836






100%







Consolidated Income Statement (unaudited)




 






 






Three months ended

December 31






 






Twelve months ended

December 31








($ millions except earnings per share)






 






2025






2024






 






2025






2024








 






 






 






 






 






 






 








Net sales






 






2,702






2,477






 






10,319






9,836








Other revenues






 






16






25






 






82






75








Net sales and other revenues






 






2,718






2,502






 






10,401






9,911








Cost of net sales






 






(1,189)






(1,093)






 






(4,592)






(4,328)








Cost of other revenues






 






(13)






(24)






 






(64)






(71)








Gross profit






 






1,516






1,385






 






5,745






5,512








Selling, general & administration






 






(901)






(802)






 






(3,449)






(3,250)








Research & development






 






(273)






(232)






 






(990)






(876)








Other income






 






5






61






 






169






77








Other expense






 






(34)






(17)






 






(115)






(50)








Operating income






 






313






395






 






1,360






1,413








Interest expense






 






(53)






(48)






 






(204)






(192)








Other financial income & expense






 






6






9






 






22






43








Share of (loss) from associated companies






 






(2)






(7)






 






(18)






(8)








Income before taxes






 






264






349






 






1,160






1,256








Taxes






 






(47)






(65)






 






(180)






(238)








Net income






 






217






284






 






980






1,018








Net income attributable to:






 






 






 






 






 






 








Shareholders of Alcon Inc.






 






217






284






 






980






1,018








Non-controlling interests






 






—






—






 






—






—








 






 






 






 






 






 






 








Earnings per share ($)(1)








Basic






 






0.44






0.57






 






1.99






2.06








Diluted






 






0.44






0.57






 






1.98






2.05








 






 






 






 






 






 






 








Weighted average number of shares outstanding (millions)








Basic






 






489.3






494.7






 






493.2






494.4








Diluted






 






492.3






498.1






 






496.2






497.5









(1)







Earnings per share is calculated on the amount of net income attributable to shareholders of Alcon Inc.







Segment contribution




 






 






Three months ended December 31






 






Twelve months ended December 31








 






 






 






 






Change %






 






 






 






Change %








($ millions unless indicated otherwise)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)








 






 






 






 






 







 






 






 






 






 







 








Surgical segment contribution






 






389






 






347






 






12






 






8






 






 






1,460






 






1,467






 






—






 






(1






)








As % of net sales






 






25.2






 






24.4






 






 







 






 






25.4






 






26.6






 






 







 








Vision Care segment contribution






 






235






 






260






 






(10






)






(14






)






 






981






 






962






 






2






 






1






 








As % of net sales






 






20.3






 






24.7






 






 







 






 






21.5






 






22.3






 






 







 








Not allocated to segments






 






(311






)






(212






)






(47






)






(47






)






 






(1,081






)






(1,016






)






(6






)






(6






)








Operating income






 






313






 






395






 






(21






)






(27






)






 






1,360






 






1,413






 






(4






)






(5






)








Core adjustments (non-IFRS measure)(1)






 






201






 






103






 






 







 






 






679






 






614






 






 







 








Core operating income (non-IFRS measure)(1)






 






514






 






498






 






3






 






(2






)






 






2,039






 






2,027






 






1






 






—






 








(1)


Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables.







Operating income




 






 






Three months ended December 31






 






Twelve months ended December 31








 






 






 






 






Change %






 






 






 






Change %








($ millions unless indicated otherwise)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)








 






 






 






 






 







 






 






 






 






 







 








Cost of net sales






 






(1,189






)






(1,093






)






(9






)






(7






)






 






(4,592






)






(4,328






)






(6






)






(6






)








Gross profit






 






1,516






 






1,385






 






9






 






6






 






 






5,745






 






5,512






 






4






 






3






 








Gross margin (%)






 






56.1






 






55.9






 






 







 






 






55.7






 






56.0






 






 







 








Selling, general & administration






 






(901






)






(802






)






(12






)






(10






)






 






(3,449






)






(3,250






)






(6






)






(5






)








Research & development






 






(273






)






(232






)






(18






)






(16






)






 






(990






)






(876






)






(13






)






(12






)








Other income






 






5






 






61






 






(92






)






(92






)






 






169






 






77






 






119






 






120






 








Other expense






 






(34






)






(17






)






(100






)






(106






)






 






(115






)






(50






)






(130






)






(133






)








Operating income






 






313






 






395






 






(21






)






(27






)






 






1,360






 






1,413






 






(4






)






(5






)








Operating margin (%)






 






11.6






 






15.9






 






 







 






 






13.2






 






14.4






 






 







 








 






 






 






 






 







 






 






 






 






 







 








Core results (non-IFRS measure)(1)






 






 






 






 







 






 






 






 






 







 








Core gross profit






 






1,688






 






1,552






 






9






 






6






 






 






6,471






 






6,177






 






5






 






4






 








Core gross margin (%)






 






62.5






 






62.7






 






 







 






 






62.7






 






62.8






 






 







 








Core operating income






 






514






 






498






 






3






 






(2






)






 






2,039






 






2,027






 






1






 






—






 








Core operating margin (%)






 






19.0






 






20.1






 






 







 






 






19.8






 






20.6






 






 







 









(1)







Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables.







Non-operating income & expense




 






 






Three months ended December 31






 






Twelve months ended December 31








 






 






 






 






Change %






 






 






 






Change %








($ millions unless indicated otherwise)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)






 






2025






 






2024






 






$







cc(1)

(non-IFRS

measure)








 






 






 






 






 







 






 






 






 






 







 








Operating income






 






313






 






395






 






(21






)






(27






)






 






1,360






 






1,413






 






(4






)






(5






)








Interest expense






 






(53






)






(48






)






(10






)






(8






)






 






(204






)






(192






)






(6






)






(6






)








Other financial income & expense






 






6






 






9






 






(33






)






(32






)






 






22






 






43






 






(49






)






(49






)








Share of (loss) from associated companies






 






(2






)






(7






)






71






 






80






 






 






(18






)






(8






)






(125






)






(126






)








Income before taxes






 






264






 






349






 






(24






)






(31






)






 






1,160






 






1,256






 






(8






)






(9






)








Taxes






 






(47






)






(65






)






28






 






33






 






 






(180






)






(238






)






24






 






26






 








Net income






 






217






 






284






 






(24






)






(31






)






 






980






 






1,018






 






(4






)






(5






)








Net income attributable to:






 






 






 






 







 






 






 






 






 







 








Shareholders of Alcon Inc.






 






217






 






284






 






(24






)






(31






)






 






980






 






1,018






 






(4






)






(5






)








Non-controlling interests






 






—






 






—






 






—






 






—






 






 






—






 






—






 






—






 






—






 








Basic earnings per share ($)(2)






 






0.44






 






0.57






 






(23






)






(30






)






 






1.99






 






2.06






 






(3






)






(5






)








Diluted earnings per share ($)(2)






 






0.44






 






0.57






 






(23






)






(30






)






 






1.98






 






2.05






 






(3






)






(5






)








 






 






 






 






 







 






 






 






 






 







 








Core results (non-IFRS measure)(1)






 






 






 






 







 






 






 






 






 







 








Core taxes






 






(83






)






(93






)






11






 






14






 






 






(323






)






(355






)






9






 






10






 








Core net income






 






382






 






359






 






6






 






1






 






 






1,521






 






1,515






 






—






 






(1






)








Core net income attributable to:






 






 






 






 







 






 






 






 






 







 








Shareholders of Alcon Inc.






 






382






 






359






 






6






 






1






 






 






1,521






 






1,515






 






—






 






(1






)








Non-controlling interests






 






—






 






—






 






—






 






—






 






 






—






 






—






 






—






 






—






 








Core basic earnings per share ($)(2)






 






0.78






 






0.73






 






7






 






2






 






 






3.08






 






3.06






 






1






 






—






 








Core diluted earnings per share ($)(2)






 






0.78






 






0.72






 






8






 






2






 






 






3.07






 






3.05






 






1






 






—






 








(1)


Core results and constant currency are non-IFRS measures. Refer to the 'Non-IFRS measures as defined by the Company' section for additional information and to the 'Reconciliation of IFRS results to core results (non-IFRS measure)' section for reconciliation tables.







(2)


Earnings per share and core earnings per share are calculated on the amount of net income and core net income, respectively, attributable to shareholders of Alcon Inc. Per share amounts may not add across quarters due to rounding.







Reconciliation of IFRS results to core results (non-IFRS measure)


Three months ended December 31, 2025




($ millions except earnings per share)






IFRS

results






 






Amortization of

certain intangible

assets(1)






 






Acquisition and

integration

related items(5)






 






Legal items(6)






 






Core

results

(non-IFRS

measure)









Gross profit






1,516






 






171






 






1






 






—






 






1,688






 








Operating income






313






 






175






 






22






 






4






 






514






 








Income before taxes






264






 






175






 






22






 






4






 






465






 








Taxes(9)






(47






)






(31






)






(4






)






(1






)






(83






)








Net income






217






 






144






 






18






 






3






 






382






 








Net income attributable to:






 







 







 







 







 









Shareholders of Alcon Inc.






217






 






144






 






18






 






3






 






382






 








Non-controlling interests






—






 






—






 






—






 






—






 






—






 








Basic earnings per share ($)(10)






0.44






 






 







 







 







0.78






 








Diluted earnings per share ($)(10)






0.44






 






 







 







 







0.78






 








Basic - weighted average shares outstanding (millions)(10)






489.3






 






 







 







 







489.3






 








Diluted - weighted average shares outstanding (millions)(10)






492.3






 






 







 







 







492.3






 







Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.


Three months ended December 31, 2024




($ millions except earnings per share)






IFRS

results







Amortization of

certain intangible

assets(1)







Divestment of

product rights(3)







Other items(8)







Core

results

(non-IFRS

measure)









Gross profit






1,385






 






167






 






—






 






—






 






1,552






 








Operating income






395






 






169






 






(57






)






(9






)






498






 








Income before taxes






349






 






169






 






(57






)






(9






)






452






 








Taxes(9)






(65






)






(30






)






2






 






—






 






(93






)








Net income






284






 






139






 






(55






)






(9






)






359






 








Net income attributable to:






 







 







 







 







 









Shareholders of Alcon Inc.






284






 






139






 






(55






)






(9






)






359






 








Non-controlling interests






—






 






—






 






—






 






—






 






—






 








Basic earnings per share ($)(10)






0.57






 






 







 







 







0.73






 








Diluted earnings per share ($)(10)






0.57






 






 







 







 







0.72






 








Basic - weighted average shares outstanding (millions)(10)






494.7






 






 







 







 







494.7






 








Diluted - weighted average shares outstanding (millions)(10)






498.1






 






 







 







 







498.1






 









Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.







Twelve months ended December 31, 2025




($ millions except earnings per share)






IFRS

results






 






Amortization

of certain

intangible

assets(1)






 






Impairments(2)






Gains on

investments in

associated

companies(4)






 






Acquisition

and

integration

related items(5)






 






Legal

items(6)






 






Product

discontinuation(7)






 






Other

items(8)






Core

results

(non-IFRS

measure)









Gross profit






5,745






 






681






 






—






—






 






1






 






—






 






44






 






—






6,471






 








Operating income






1,360






 






696






 






2






(142






)






58






 






21






 






44






 






—






2,039






 








Income before taxes






1,160






 






696






 






2






(142






)






58






 






21






 






44






 






5






1,844






 








Taxes(9)






(180






)






(124






)






—






—






 






(12






)






(5






)






(10






)






8






(323






)








Net income






980






 






572






 






2






(142






)






46






 






16






 






34






 






13






1,521






 








Net income attributable to:






 







 







 






 







 







 







 







 






 









Shareholders of Alcon Inc.






980






 






572






 






2






(142






)






46






 






16






 






34






 






13






1,521






 








Non-controlling interests






—






 






—






 






—






—






 






—






 






—






 






—






 






—






—






 








Basic earnings per share ($)(10)






1.99






 






 







 






 







 







 







 







 






3.08






 








Diluted earnings per share ($)(10)






1.98






 






 







 






 







 







 







 







 






3.07






 








Basic - weighted average shares outstanding (millions)(10)






493.2






 






 







 






 







 







 







 







 






493.2






 








Diluted - weighted average shares outstanding (millions)(10)






496.2






 






 







 






 







 







 







 







 






496.2






 









Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.







Twelve months ended December 31, 2024




($ millions except earnings per share)






IFRS

results






 






Amortization of

certain intangible

assets(1)






 






Impairments(2)






Divestment of

product rights(3)






 






Acquisition and

integration related

items(5)






 






Other

items(8)






 






Core

results

(non-IFRS

measure)









Gross profit






5,512






 






662






 






—






—






 






3






 






—






 






6,177






 








Operating income






1,413






 






667






 






9






(57






)






3






 






(8






)






2,027






 








Income before taxes






1,256






 






667






 






9






(57






)






3






 






(8






)






1,870






 








Taxes(9)






(238






)






(119






)






—






2






 






(1






)






1






 






(355






)








Net income






1,018






 






548






 






9






(55






)






2






 






(7






)






1,515






 








Net income attributable to:






 







 







 






 







 







 







 









Shareholders of Alcon Inc.






1,018






 






548






 






9






(55






)






2






 






(7






)






1,515






 








Non-controlling interests






—






 






—






 






—






—






 






—






 






—






 






—






 








Basic earnings per share ($)(10)






2.06






 






 







 






 







 







 







3.06






 








Diluted earnings per share ($)(10)






2.05






 






 







 






 







 







 







3.05






 








Basic - weighted average shares outstanding (millions)(10)






494.4






 






 







 






 







 







 







494.4






 








Diluted - weighted average shares outstanding (millions)(10)






497.5






 






 







 






 







 







 







497.5






 









Refer to the associated explanatory footnotes at the end of the 'Reconciliation of IFRS results to core results (non-IFRS measure)' tables.







Explanatory footnotes to IFRS to core reconciliation tables




(1)







Includes amortization for all intangible assets other than software.








(2)







Includes impairment charges related to intangible assets.








(3)







For the three and twelve months ended December 31, 2024, includes a net gain related to the divestment of certain product rights in China.








(4)







For the twelve months ended December 31, 2025, includes gains on fair value remeasurements of investments in associated companies.








(5)







For the three months ended December 31, 2025, Gross profit includes the amortization of inventory fair value adjustments related to an acquisition. Operating income also includes $18 million of direct acquisition costs and $3 million of integration related costs related to acquisitions. Acquisition costs primarily include third party professional services for legal fees. Integration related costs include third party professional services of $2 million and accelerated equity-based compensation expense of $1 million.










For the twelve months ended December 31, 2025, Gross profit includes the amortization of inventory fair value adjustments related to an acquisition. Operating income also includes $46 million of direct acquisition costs and $11 million of integration related costs related to acquisitions. Acquisition costs primarily include third party professional services for legal, banker, due diligence and accounting fees. Integration related costs include accelerated equity-based compensation expense of $4 million, third party professional services of $4 million and severance of $3 million.










For the twelve months ended December 31, 2024, Gross profit includes the amortization of inventory fair value adjustments related to an acquisition.








(6)







For the three and twelve months ended December 31, 2025, includes provisions for legal matters.








(7)







For the twelve months ended December 31, 2025, includes charges related to the discontinued commercialization of a product in the Vision Care reportable segment, including $43 million for the full impairment of the intangible asset and $1 million in related costs, primarily related to inventory provisions.








(8)







For the three months ended December 31, 2024, Operating income primarily includes fair value adjustments to contingent consideration liabilities, partially offset by the amortization of option rights.










For the twelve months ended December 31, 2025, Income before taxes includes core adjustments recognized for Aurion in Share of (loss) from associated companies. The expenses were incurred upon change in control from Alcon's acquisition of a majority interest in Aurion and include accelerated equity-based compensation expense of $2 million, third party professional services of $2 million for legal and accounting fees and third party bank fees of $1 million.










For the twelve months ended December 31, 2024, Operating income includes fair value adjustments to contingent consideration liabilities and fair value adjustments of financial assets, partially offset by the amortization of option rights.








(9)







For the three months ended December 31, 2025, tax associated with operating income core adjustments of $201 million totaled $36 million with an average tax rate of 17.9%.










For the three months ended December 31, 2024, tax associated with operating income core adjustments of $103 million totaled $28 million with an average tax rate of 27.2%.










For the twelve months ended December 31, 2025, total tax adjustments of $143 million include tax associated with operating income core adjustments, partially offset by discrete tax items. Operating income core adjustments totaled $679 million. Excluding the non-taxable gain of $136 million on fair value remeasurement of Alcon's investment in Aurion, core adjustments to operating income totaled $815 million. The associated tax effect amounted to $151 million with an average tax rate of 18.5%. Core tax adjustments for discrete tax items totaled $8 million.










For the twelve months ended December 31, 2024, tax associated with operating income core adjustments of $614 million totaled $117 million with an average tax rate of 19.1%.








(10)







Core basic earnings per share is calculated using core net income attributable to shareholders of Alcon Inc. and the weighted-average shares of common stock outstanding during the period. Core diluted earnings per share also contemplate dilutive shares associated with unvested equity-based awards as described in Note 5 to the Condensed Consolidated Interim Financial Statements.







EBITDA (non-IFRS measure)




 






 






Three months ended

December 31






 






Twelve months ended

December 31








($ millions)






 






2025






 






2024






 






 






2025






 






2024






 








 






 






 






 






 






 






 








Net income






 






217






 






284






 






 






980






 






1,018






 








Taxes






 






47






 






65






 






 






180






 






238






 








Depreciation of property, plant & equipment






 






110






 






100






 






 






417






 






392






 








Depreciation of right-of-use assets






 






22






 






21






 






 






89






 






83






 








Amortization of intangible assets






 






200






 






188






 






 






784






 






743






 








Impairments of property, plant & equipment and intangible assets






 






—






 






1






 






 






45






 






10






 








Interest expense






 






53






 






48






 






 






204






 






192






 








Other financial income & expense






 






(6






)






(9






)






 






(22






)






(43






)








EBITDA






 






643






 






698






 






 






2,677






 






2,633






 







Cash flow and net (debt)/liquidity (non-IFRS measure)




 






 






Twelve months ended December 31








($ millions)






 






2025






 






2024






 








 






 






 






 








Net cash flows from operating activities






 






2,271






 






2,077






 








Net cash flows used in investing activities






 






(1,344






)






(1,167






)








Net cash flows used in financing activities






 






(1,119






)






(322






)








Effect of exchange rate changes on cash and cash equivalents






 






43






 






(6






)








Net change in cash and cash equivalents






 






(149






)






582






 








Change in derivative financial instrument assets






 






(7






)






10






 








Change in time deposits with original maturity greater than three months






 






(73






)






153






 








Change in current and non-current financial debts






 






(94






)






96






 








Change in net (debt)






 






(323






)






841






 








Net (debt) at January 1






 






(2,802






)






(3,643






)








Net (debt) at December 31






 






(3,125






)






(2,802






)







Net (debt)/liquidity (non-IFRS measure)




($ millions)






At December 31, 2025





 

At December 31, 2024





 



Current financial debt






(575






)






(105






)








Non-current financial debt






(4,162






)






(4,538






)








Total financial debt






(4,737






)






(4,643






)








 






 





 

 





 



Less liquidity:






 





 

 





 



Cash and cash equivalents






1,527






 






1,676






 








Time deposits with original maturity greater than three months






80






 






153






 








Derivative financial instruments






5






 






12






 








Total liquidity






1,612






 






1,841






 








Net (debt)






(3,125






)






(2,802






)







Free cash flow (non-IFRS measure)


The following is a summary of free cash flow for the twelve months ended December 31, 2025 and 2024, together with a reconciliation to net cash flows from operating activities, the most directly comparable IFRS measure:




 






Twelve months ended December 31








($ millions)






2025






 






 






2024






 








Net cash flows from operating activities






2,271






 






 






2,077






 








Purchase of property, plant & equipment






(543






)






 






(473






)








Proceeds from sale of property, plant & equipment






5






 






 






—






 








Free cash flow






1,733






 






 






1,604






 







About Alcon


Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of people in over 140 countries and territories each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.


Connect with us on


Facebook


LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20260220941008/en/
Investor Relations

Daniel Cravens

Allen Trang

+ 41 589 112 110 (Geneva)

+ 1 817 615 2789 (Fort Worth)

investor.relations@alcon.com


Media Relations

Steven Smith

+ 41 589 112 111 (Geneva)

+ 1 817 551 8057 (Fort Worth)

globalmedia.relations@alcon.com


Original: Alcon Delivers Strong Fourth-Quarter 2025 Topline Growth as New Product Launches Accelerate Sales