The Cooper Companies, Inc. (COO) delivered adjusted earnings per share (EPS) of 96 cents in the third quarter of fiscal 2024, which improved 14.3% year over year. The figure surpassed the Zacks Consensus Estimate by 5.5%. GAAP EPS for the quarter was 52 cents, indicating a 20.9% increase from the year-ago figure. COO's Revenues in Detail Cooper Companies registered revenues of $1 billion in the fiscal third quarter, up 7.8% year over year on a reported basis. The figure surpassed the Zacks Consensus Estimat ...

Financial Data and Key Metrics Changes - Consolidated quarterly revenues were slightly over $1 billion, up 8% year-over-year [6][17] - Non-GAAP earnings per share grew 14% to $0.96 [6][18] - Consolidated gross margin improved to 66.6%, up from 66.1% last year [18] - Operating margin increased to 25.5% from 23.9% year-over-year [18] - Free cash flow was $118 million with CapEx of $89 million [19] Business Line Data and Key Metrics Changes - CooperVision reported record quarterly revenues of $676 million, up 10% [6][17] - CooperSurgical posted record quarterly revenues of $327 million, up 5%, with fertility sales growing 10% [14][19] - Myopia management portfolio grew 29%, with MiSight up 50% [7][11] Market Data and Key Metrics Changes - The Americas market grew 13%, EMEA 7%, and Asia PAC 7% [7] - The contact lens market grew roughly 7% in calendar Q2, with Cooper taking share up 10% [13] - Fertility clinics are increasing patient activity and upgrading to new technologies [14] Company Strategy and Development Direction - The company aims to become a leader in the daily contact lens space and the global fertility industry [4][5] - Strategic investments include state-of-the-art manufacturing capabilities and technological advancements [5] - The focus remains on delivering advanced fertility solutions and expanding the Myopia management market [14][11] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the healthy state of the market, despite some noise regarding rebates [24] - The company is optimistic about continued growth in both the contact lens and fertility markets [34] - Future guidance includes consolidated revenues of $3.89 billion to $3.91 billion for fiscal 2024, up 8% to 8.5% organically [21] Other Important Information - Two tuck-in acquisitions were completed: ZyMot and obp Surgical, both expected to be accretive to revenue growth and margins [20] - The company is focused on improving free cash flow and reducing net debt, which decreased to $2.5 billion [19] Q&A Session Summary Question: Market conditions and rebate activity - Management indicated that the market remains healthy, with some minor fluctuations in rebate activity [24] Question: Impact of culture media recall on fertility growth - Management confirmed that the fertility team effectively managed the situation, leading to a return to double-digit growth [26] Question: Capacity initiatives in the Americas - Management noted that increased capacity is coming online, which is expected to meet demand and support future growth [28] Question: Pricing dynamics in the contact lens market - Management expects pricing to remain stable, with a 2% to 3% increase supporting market growth [55] Question: Competitive landscape for PARAGARD - Management stated that PARAGARD remains strong in the market, with recent product improvements enhancing its position [59] Question: Myopia management adoption and insurance coverage - Management highlighted ongoing progress in insurance reimbursement and the need for broader adoption of myopia control treatments [72]

The Cooper Companies (COO) reported $1 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 7.8%. EPS of $0.96 for the same period compares to $0.84 a year ago. The reported revenue represents a surprise of +0.57% over the Zacks Consensus Estimate of $997.16 million. With the consensus EPS estimate being $0.91, the EPS surprise was +5.49%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

The Cooper Companies (COO) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.49%. A quarter ago, it was expected that this surgical and contact lens products maker would post earnings of $0.83 per share when it actually produced earnings of $0.85, delivering a surprise of 2.41%. Over ...

Revenue Growth - Revenue increased 8% year-over-year to $1,002.8 million, with CooperVision (CVI) revenue up 7% to $675.6 million and CooperSurgical (CSI) revenue up 9% to $327.2 million[1] - CVI revenue by category: Toric and multifocal revenue up 12% organically to $326.4 million, and Sphere and other revenue up 8% organically to $349.2 million[4] - CSI revenue by category: Office and surgical revenue up 2% organically to $197.9 million, and Fertility revenue up 10% organically to $129.3 million[6] - Net sales for the three months ended July 31, 2024, were $1,002.8 million, up 7.8% from $930.2 million in the same period in 2023[30] - CooperVision reported constant currency revenue growth of 9% and organic revenue growth of 10% in 3Q24[31] - CooperSurgical reported constant currency revenue growth of 10% and organic revenue growth of 5% in 3Q24[31] - Total constant currency revenue growth for the company was 10% in 3Q24, with organic revenue growth at 8%[31] Earnings and Profitability - GAAP diluted EPS of $0.52, up 22% from last year's third quarter, and non-GAAP diluted EPS of $0.96, up 14%[1] - Gross margin remained at 66%, with non-GAAP gross margin improving to 67% from 66% last year[2] - Operating margin increased to 19% from 16% last year, with non-GAAP operating margin rising to 26% from 24%[2] - GAAP Net Income for the three months ended July 31, 2024, was $104.7 million, compared to $85.3 million in the same period in 2023, representing a 22.7% increase[14] - Non-GAAP Net Income for the three months ended July 31, 2024, was $191.9 million, compared to $167.2 million in the same period in 2023, representing a 14.8% increase[14] - GAAP Net Income for the nine months ended July 31, 2024, was $274.8 million, compared to $209.7 million in the same period in 2023, representing a 31.0% increase[14] - Non-GAAP Net Income for the nine months ended July 31, 2024, was $532.0 million, compared to $465.1 million in the same period in 2023, representing a 14.4% increase[14] - Net income for the three months ended July 31, 2024, was $104.7 million, compared to $85.3 million in the same period in 2023[30] - Diluted earnings per share for the three months ended July 31, 2024, were $0.52, up from $0.43 in the same period in 2023[30] - Gross profit for the three months ended July 31, 2024, was $663.0 million, up from $610.0 million in the same period in 2023[30] - Operating income for the three months ended July 31, 2024, was $192.5 million, compared to $151.6 million in the same period in 2023[30] Cash Flow and Capital Expenditures - Free cash flow of $118.5 million, generated from $207.5 million in cash provided by operations and $89.0 million in capital expenditures[3] Guidance - Fiscal 2024 total revenue guidance raised to $3,892 - $3,913 million, with organic growth of 8% to 8.5%[7] - Fiscal 2024 non-GAAP diluted EPS guidance of $3.64 - $3.67[7] - Fiscal Q4 2024 total revenue guidance of $1,015 - $1,036 million, with organic growth of 7% to 9.5%[7] Charges and Expenses - Acquisition and integration-related charges for the three months ended July 31, 2024, were $1.1 million, compared to $13.2 million in the same period in 2023, representing a 91.7% decrease[14] - Business optimization charges for the three months ended July 31, 2024, were $4.4 million, compared to $2.7 million in the same period in 2023, representing a 63.0% increase[14] - Medical device regulations charges for the three months ended July 31, 2024, were $5.6 million, compared to $5.5 million in the same period in 2023, representing a 1.8% increase[14] - Intra-entity asset transfers for the three months ended July 31, 2024, were $34.5 million, compared to $27.3 million in the same period in 2023, representing a 26.4% increase[14] - The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses[15] - The acquisition and integration-related charges in fiscal 2023 were primarily related to Generate acquisition and integration expenses[15] - Research and development expenses increased to $39.0 million in the three months ended July 31, 2024, from $36.5 million in the same period in 2023[30] Assets and Financial Position - Total assets increased to $12,108.0 million in July 2024 from $11,658.9 million in October 2023[29]

SAN RAMON, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal third quarter ended July 31, 2024. % change y/y Revenue increased 8% year-over-year to $1,002.8 million. CooperVision (CVI) revenue up 7% to $675.6 million, and CooperSurgical (CSI) revenue up 9% to $327.2 million. GAAP diluted earnings per share (EPS) of $0.52, up $0.09 or 22% from last year's third quarter. Non-GAAP diluted EPS of $0. ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? The Cooper Companies (COO) , which belongs to the Zacks Medical - Dental Supplies industry, could be a great candidate to consider. This surgical and contact lens products maker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 5%. For the most r ...

The Cooper Companies, Inc.'s (COO) third-quarter fiscal 2024 results are scheduled to be released on Aug 28, after the closing bell. In the last reported quarter, the company's earnings beat the Zacks Consensus Estimate by 2.41%. Its earnings beat estimates in two of the trailing four quarters and met twice, delivering an average surprise of 2.50%. Q3 Estimates The Zacks Consensus Estimate for revenues is pegged at $997.2 million, indicating a 7.2% increase from the year-ago quarter's level. The consensus m ...

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Wall Street analysts forecast that The Cooper Companies (COO) will report quarterly earnings of $0.91 per share in its upcoming release, pointing to a year-over-year increase of 8.3%. It is anticipated that revenues will amount to $997.16 million, exhibiting an increase of 7.2% compared to the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their init ...