Alcon AG (NYSE:ALC), the global leader in eye care, stock rose 8.21% (As on May 11, 11:21:12 AM UTC-4, Source: Google Finance) after the company beaten the market’s expectations for the first quarter of FY 22. Sales in both Surgical and Vision Care benefited from product innovation, improvements across geographies reflecting continuing recovery from the COVID-19 pandemic and sales from recent acquisitions. Surgical sales also included a one-time benefit related to implantables. Surgical net sales of $1.3 billion, which include implantables, consumables and equipment/other, increased 17%, or 22% on a constant currency basis, compared to the first quarter of 2021. Implantables growth reflected ongoing adoption of advanced technology intraocular lenses, led by Vivity, and sales of the Hydrus Microstent following the recent acquisition of Ivantis. Implantables sales also included a one-time benefit in South Korea ahead of an insurance reimbursement change for presbyopia correcting intraocular lenses that accounted for approximately 8% (cc) of implantables growth during the quarter. Consumables growth primarily reflected higher procedure volumes due to improving market conditions. Growth in equipment/other was primarily driven by demand for cataract equipment.

Moreover, Vision Care net sales of $0.9 billion, which include contact lenses and ocular health, increased 10%, or 14% on a constant currency basis, compared to the first quarter of 2021. Contact lens sales benefited from growth in silicone hydrogel contact lenses, including the Precision and Dailies Total product families and Total30. Growth in ocular health was led by demand for Systane dry eye and Simbrinza glaucoma eye drops, as well as improvements in select international markets, partially offset by declines in contact lens care

ALC in the first quarter of FY 22 has reported the adjusted earnings per share of 68 cents, beating the analysts’ estimates for the adjusted earnings per share by 15 cents. The company had reported the adjusted revenue growth of 14.1 percent to $2.18 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue by $120 million. First quarter 2022 operating income was $246 million and operating margin was 11.3%. The Company ended the first quarter with a cash position of $1.0 billion.

The company now expects constant currency net sales growth to range between +9% to +11% vs. prior outlook of +7% to +9%. The company reaffirms 2022 revenue guidance range at $8.7 to $8.9 billion vs. consensus of $8.79B and Non-GAAP EPS to range between $2.35 to $2.45 vs. consensus of $2.39.