Financial Performance - GAAP diluted earnings per share (EPS) of $0.44, up 122% from last year's second quarter[2] - Revenue increased 7% year-over-year to $942.6 million, with CooperVision revenue up 8% to $635.9 million and CooperSurgical revenue up 6% to $306.7 million[9] - Operating margin of 17%, compared to 11% in last year's second quarter; non-GAAP operating margin remained at 24%[11] - Non-GAAP net income for the quarter was $169.5 million, or $0.85 per share, compared to $153.5 million, or $0.77 per share, in the prior year[21] - Net income for the quarter was $88.9 million, compared to $39.8 million in the prior year, resulting in diluted earnings per share of $0.44, up from $0.20[1] - Non-GAAP diluted EPS increased by $0.08 to $0.85, a 10% rise compared to the same quarter last year[64] Revenue Guidance - The company raised its fiscal year 2024 financial guidance to a non-GAAP diluted EPS of $3.54 - $3.60[7] - CooperSurgical revenue guidance for fiscal year 2024 is set at $1,272 - $1,292 million, indicating organic growth of 5% to 7%[15] - The company expects total revenue for fiscal 2024 to be between $3,863 million and $3,905 million, with organic growth projected at 7.5% to 8.5%[39] - CooperVision expects revenue guidance of $2,591 - $2,613 million, indicating organic growth of 8.5% to 9.5%[69] Operational Efficiency - Operating income increased to $161.7 million, up from $96.3 million in the same quarter last year, indicating improved operational efficiency[1] - Cash provided by operations was $111.0 million, resulting in free cash flow of $36.9 million after capital expenditures of $74.1 million[12] - Non-GAAP operating income for the three months was $224.8 million, representing a 24% margin, consistent with the prior year[44] Revenue Breakdown - CooperVision's total revenue of $635.9 million included a 12% increase in toric and multifocal lenses and a 9% increase in sphere and other lenses[13] - The Americas region reported revenue of $264.4 million, up 9% year-over-year, while EMEA revenue was $237.0 million, up 13%[37] - CooperVision revenue was $635.9 million, with organic growth of 11% and a currency impact of 2%[58] - CooperSurgical revenue was $306.7 million, showing an 8% increase in constant currency, with a 4% organic growth[68] Financial Position - Total liabilities increased to $4,243.5 million, while stockholders' equity rose to $7,803.9 million[30] - Total assets reached $12,047.4 million, an increase from $11,658.9 million as of October 31, 2023[60] - The company has total debt of $2.7 billion, with cash and cash equivalents at $112.4 million[66] - Current assets totaled $1,859.0 million, up from $1,704.9 million in the previous period[60] - Goodwill increased to $3,761.3 million from $3,624.5 million, reflecting ongoing acquisitions[60] Research and Development - Research and development expenses increased to $38.9 million from $32.6 million year-over-year, highlighting the company's commitment to innovation[1] Cost Management - The company is focused on strategic acquisitions and optimizing its cost structure to enhance overall performance[40] Gross Profit and Margin - The company reported a gross profit of $631.2 million, representing a gross margin of 67%[19] - Gross profit for the same period was $631.2 million, compared to $582.9 million in the prior year, reflecting a strong performance[1] - Gross margin improved to 67%, up from 66% in the previous year[65]

SAN RAMON, Calif., May 30, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal second quarter ended April 30, 2024. Revenue by geography: % change y/y Revenue increased 7% year-over-year to $942.6 million. CooperVision (CVI) revenue up 8% to $635.9 million, and CooperSurgical (CSI) revenue up 6% to $306.7 million. GAAP diluted earnings per share (EPS) of $0.44, up $0.24 or 122% from last year's second quarter. Non- ...

The Cooper Companies, Inc.'s (COO) second-quarter fiscal 2024 results are scheduled to be released on May 30, after the closing bell. In the last reported quarter, the company's earnings beat the Zacks Consensus Estimate by 7.6%. Its earnings beat estimates in two of the trailing four quarters and met twice, delivering an average surprise of 2.48%. Q2 Estimates The Zacks Consensus Estimate for revenues is pegged at $948.7 million, indicating an 8.1% increase from the year-ago quarter's level. The same for e ...

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earni ...

In 2023, CooperCompanies continued to make its leading healthcare solutions more accessible in underserved communities, made significant investments in learning and development programs for global employees, and maintained its commitment to protect the planet. SAN RAMON, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO) today released its 2023 Environmental, Social, and Governance (ESG) Report. The report showcases the company's progress on enhancing the health and wellness of people ar ...

SAN RAMON, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (NASDAQ:COO) today released its 2023 Environmental, Social, and Governance (ESG) Report. The report showcases the company's progress on enhancing the health and wellness of people around the world, while doing its part to protect the planet and serve its communities. In 2023, CooperCompanies continued to make its leading healthcare solutions more accessible in underserved communities, made significant investments in learning and development ...

SOURCE Lockheed Martin BETHESDA, Md., May 23, 2024 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) will webcast live a presentation by Chief Operating Officer Frank St. John and Chief Financial Officer Jay Malave at the Bernstein's 40th Annual Strategic Decisions Conference on Thursday, May 30 at 8 a.m. to 8:50 a.m. ET. Access to the webcast will be available at: http://www.lockheedmartin.com/investor. An audio replay will be available for two weeks following the presentation. About Lockheed Martin Lockheed Mar ...

The Cooper Companies, Inc. (COO) is well-poised for growth, backed by strong prospects in its CooperVision (CVI) and CooperSurgical (CSI) business segments. Acquisitions boost the company's portfolio and buoy optimism. However, unfavorable currency movements and rising costs continue to hurt revenues and margins, respectively. Shares of this currently Zacks Rank #2 (Buy) company have declined 1.9% year to date against the industry's 2.3% growth. The S&P 500 Index has gained 9.8% in the same time frame. The ...

SAN RAMON, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (NASDAQ:COO) today announced it will report second quarter 2024 financial results on Thursday, May 30, 2024, at 4:15 PM ET. Following the release, the Company will host a conference call at 5:00 PM ET to discuss the results and current corporate developments. The dial-in number for the call is 800-715-9871 and the conference ID is 1712676. A simultaneous audio webcast and subsequent replay can be accessed at http://investor.coopercos.com. ...

The Cooper Companies (COO) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual inv ...