Alcon Inc. (ALC) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 10, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Greetings and welcome to the Alcon First Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce our hosts Dan Cravens, VP, Investor Relations. Thank you, sir. You may begin.

Dan Cravens

Welcome to Alcon's first quarter 2023 earnings conference call. Yesterday we issued a press release an interim financial report and posted a supplemental slide presentation on our website to enhance this call. You find all these documents in the investor relations section of our website at investor.alcon.com.

Joining me on today's call are David Endicott our Chief Executive Officer; and Tim Stonesifer. Our Chief Finance Officer.

Our press release, presentation and discussion will include forward looking statements. We expressly disclaim any obligation to update forward-looking statements as a result of new information or future developments, except as required by law. Our actual results may vary materially from those expressed or implied in our forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements.

Important factors that could cause our actual results to differ from those and our forward-looking statements are included in Alcon's Form 20-F and our earnings press release and interim financial report on file with the Securities Exchange Commission and available on the SEC's website at sec.gov.

Non-IFRS financial measures used by the company may be calculated differently from and therefore may not be comparable to similarly titled measures used in other companies. These non-IFRS financial measures should be considered along with but not as alternative to the operating performance measures as prescribed for IFRS. Please see a reconciliation between our non-IFRS measures, with directly comparable measures presented in accordance with IFRS and our public filings.

For discussion purposes, our comments on growth are expressed in constant currency. In a moment David will begin by recapping highlights from the first quarter. After his remarks Tim will discuss our performance and outlook for the remainder of the year. Then David will wrap up and we will open the call for Q&A.

With that, I will now turn the call over to our CEO, David Endicott.

David Endicott

Thanks Dan, and welcome to Alcon's first quarter 2023 earnings call.

2023 is off to a great start. We benefited from solid demand, strong commercial execution and pricing improvements across both our franchises which resulted in double digit sales growth for the company in the quarter. In addition, we delivered a core-operating margin of 20.6% and a core-diluted earnings of $0.70 per share.