Shares of Bausch + Lomb Corp. (BLCO) plummeted 15.45% in early trading on Wednesday following the release of disappointing first-quarter 2025 financial results and lowered full-year guidance. The eye health company's performance fell short of analyst expectations, triggering a significant sell-off among investors.

For the first quarter ended March 31, 2025, Bausch + Lomb reported an adjusted loss of $0.07 per share, a stark contrast to the $0.03 profit analysts had forecast. This represents a significant downturn from the same period last year when the company posted earnings of $0.07 per share. The company's revenue for the quarter came in at $1.14 billion, slightly missing the analyst consensus estimate of $1.15 billion. While this represents a 3.46% increase over the same period last year, it wasn't enough to offset concerns about profitability.

Adding to investor worries, Bausch + Lomb lowered its full-year 2025 adjusted EBITDA guidance to a range of $850 million to $900 million, down from the previous forecast of $900 million to $950 million. The company cited the estimated one-time impact of a voluntary recall of certain enVista intraocular lens (IOL) products as a key factor in the guidance reduction. This recall is expected to have an approximately $55 million impact on revenue and a $65 million impact on adjusted EBITDA for the full year.

Despite the challenges, Bausch + Lomb slightly raised its full-year revenue guidance to a range of $5.0 billion to $5.1 billion, up from the previous $4.95 billion to $5.05 billion. However, this increase was not enough to assuage investor concerns about the company's profitability and near-term outlook. The combination of missed earnings, lowered EBITDA guidance, and the impact of the product recall has clearly shaken investor confidence, leading to the sharp decline in the stock price during Wednesday's trading session.