The Cooper Companies(COO) - 2024 Q4 - Annual Results

Revenue and Growth - Q4 2024 revenue of $1,018.4 million, up 10% YoY, with organic growth of 7%[1] - Fiscal year 2024 revenue of$ 3.9 billion, up 8% YoY, with organic growth of 8%[1] - Q4 2024 CooperVision (CVI) revenue of $676.4 million, up 9% YoY, with organic growth of 8%[7] - Q4 2024 CooperSurgical (CSI) revenue of$ 342.0 million, up 12% YoY, with organic growth of 5%[10] - Fiscal 2025 revenue guidance of $4,080 -$ 4,158 million, with organic growth of 6% to 8%[15] - Net sales for Q4 2024 increased by 10% year-over-year to $1,018.4 million, with organic growth of 7%[57] - CooperVision's net sales grew by 9% year-over-year to$ 676.4 million, with organic growth of 8%[57] - CooperSurgical's net sales increased by 12% year-over-year to $342.0 million, with organic growth of 5%[57] Earnings and Profitability - Q4 2024 GAAP diluted EPS of$ 0.58, up 38% YoY, and fiscal 2024 GAAP diluted EPS of $1.96, up 33% YoY[2] - Q4 2024 non-GAAP diluted EPS of$ 1.04, up 19% YoY, and fiscal 2024 non-GAAP diluted EPS of $3.69, up 15% YoY[2] - Q4 2024 gross margin of 67%, up from 65% in the prior year, driven by price and efficiency gains[4] - Q4 2024 operating margin of 19%, up from 15% in the prior year, driven by SG&A expense leverage and stronger gross margins[4] - Fiscal 2025 non-GAAP diluted EPS guidance of$ 3.92 - $4.02[15] - GAAP Net Income for the three months ended October 31, 2024, was$ 117.5 million, compared to $84.5 million in the same period in 2023[27] - Non-GAAP Net Income for the three months ended October 31, 2024, was$ 208.5 million, compared to $173.2 million in the same period in 2023[27] - Net income for Q4 2024 rose to$ 117.5 million, up from $84.5 million in Q4 2023[54] - Earnings per share (diluted) for Q4 2024 were$ 0.58, compared to $0.42 in Q4 2023[54] - Gross profit for Q4 2024 was$ 677.7 million, up from $606.5 million in Q4 2023[54] Expenses and Charges - Acquisition and integration-related charges for the three months ended October 31, 2024, were$ 7.2 million, primarily related to the Cook Medical acquisition[28] - Business optimization charges for the three months ended October 31, 2024, included $1.5 million in employee severance costs and$ 1.0 million related to IT infrastructure changes[34] - The twelve months ended October 31, 2024, included $20.6 million in acquisition and integration-related charges, primarily related to the Cook Medical acquisition[28] - The twelve months ended October 31, 2024, also included$ 18.3 million in business optimization charges, with $10.6 million related to employee severance costs[34] - The company incurred$ 4.0 million in charges related to compliance with new EU medical device regulations for the three months ended October 31, 2024[32] - The twelve months ended October 31, 2024, included $12.9 million in other charges, with$ 5.9 million related to gains and losses on minority interest investments[37] - Research and development expenses increased to $37.7 million in Q4 2024 from$ 36.7 million in Q4 2023[54] Financial Position - Total assets increased to $12,315.2 million in 2024 from$ 11,658.9 million in 2023[51] - Long-term debt stood at $2,550.4 million in 2024, slightly up from$ 2,523.8 million in 2023[51] - Total current assets grew to $1,951.5 million in 2024 from$ 1,704.9 million in 2023[51] Corporate Developments - The company recorded a deferred tax asset of approximately $2.0 billion in fiscal 2021 due to the transfer of CooperVision intellectual property and goodwill to its UK subsidiary[39] - The company will host an audio webcast to discuss its fourth-quarter results and corporate developments, available on CooperCompanies' website[39]