Alcon has disclosed its financial performance for the three months concluding on March 31, 2024. With sales reaching US$2.4 billion for the first quarter of 2024, the company has experienced a noteworthy 5 percent surge on a reported basis and a substantial 7 percent increase on a constant currency basis compared to Q1 of 2023. David J. Endicott, the Chief Executive Officer of Alcon, attributed this success to the dedicated efforts of their extensive workforce, comprising over 25,000 associates spanning both the surgical and vision care divisions.
Alcon's latest report highlights significant growth in various segments, particularly within the contact lens market where the company has made considerable strides. Endicott emphasized the escalating penetration in the toric contact lens segment and expressed satisfaction with the positive trajectory observed across their product spectrum, notably citing record-breaking sales in innovative contact lenses during the quarter.
In the domain of vision care, encompassing contact lenses and ocular health products, Alcon recorded net sales of US$1.1 billion for Q1, marking a substantial 7 percent increase on a reported basis compared to the same period in 2023. Noteworthy strength was observed in contact lenses and eye drops. Vision care, when adjusted for constant currency, exhibited a commendable 10 percent growth in Q1 of 2024, albeit slightly lower than the double-digit growth of 13 percent witnessed in Q1 of 2023.
Within the contact lenses category, net sales surged to US$671 million, registering a robust 9 percent increase compared to Q1 of 2023. This growth was primarily fueled by product innovations such as the toric and multifocal modalities and strategic price adjustments. Despite a 2 percent unfavorable currency impact, net sales of contact lenses experienced an impressive 11 percent increase on a constant currency basis.
Endicott underlined Alcon's exceptional performance in the contact lens market, expressing contentment with the uptake of toric lenses while acknowledging ample opportunities in the implantable lens sector, particularly citing substantial gains in Europe during the quarter. In the realm of implantable lenses, net sales reached US$433 million for Q1, showcasing a modest 1 percent increase compared to the prior year period, primarily driven by advanced intraocular lens technologies in international markets.
Consumables net sales climbed to US$686 million, marking a solid 5 percent uptick compared to Q1 of 2023, driven by demand for vitreoretinal and cataract consumables, especially in international markets, and strategic pricing initiatives. Similarly, ocular health net sales surged by 5 percent to $435 million, propelled by a diverse portfolio of eye drops, including the Systane family of artificial tears.
Furthermore, Alcon continues to prioritize research and development, particularly focusing on digital innovation leveraging artificial intelligence. The planned acquisition of Israel-based Belkin Vision underscores Alcon's commitment to advancing glaucoma treatment, with the acquisition expected to conclude in Q3.
Alcon reported an operating income of US$368 million for the first quarter of 2024, marking a substantial improvement compared to US$268 million in the prior year period. The company attributed this growth to enhanced operational efficiency driven by higher sales and prudent spending decisions.
Endicott attributed Alcon's success in Q1 to the dedication and expertise of the company's workforce, highlighting their pivotal role in achieving these commendable results.