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The Cooper Companies(COO) - 2025 Q1 - Quarterly Results
COOThe Cooper Companies(COO)2025-03-06 21:29

Revenue Performance - Revenue for the first quarter of fiscal 2025 increased 4% year-over-year to 964.7million,withCooperVisionrevenueup4964.7 million, with CooperVision revenue up 4% to 646.1 million and CooperSurgical revenue up 3% to 318.6million[3].−ForthethreemonthsendedJanuary31,2025,netsalesincreasedto318.6 million[3]. - For the three months ended January 31, 2025, net sales increased to 964.7 million, representing a year-over-year growth of 3.3%[38]. - CooperVision's net sales were 646.1million,withaconstantcurrencyorganicgrowthof6646.1 million, with a constant currency organic growth of 6% year-over-year[41]. - CooperSurgical reported net sales of 318.6 million, with an organic growth of 2% year-over-year[41]. Earnings and Profitability - GAAP diluted earnings per share (EPS) for the first quarter was 0.52,anincreaseof0.52, an increase of 0.11 from the previous year, while non-GAAP diluted EPS was 0.92,up0.92, up 0.07 year-over-year[3]. - Diluted earnings per share for the first quarter of fiscal 2025 were 0.52,upfrom0.52, up from 0.41 in the prior year, indicating a growth of 26.8%[38]. - Operating income for the first quarter of fiscal 2025 was 182.0million,upfrom182.0 million, up from 153.1 million in the prior year, reflecting a growth of 18.9%[38]. - Net income for the three months ended January 31, 2025, was 104.3million,comparedto104.3 million, compared to 81.2 million in the same period last year, marking a year-over-year increase of 28.5%[38]. Margins - Gross margin improved to 68% from 67% in the prior year, driven by efficiency gains, with non-GAAP gross margin at 69%[4]. - Operating margin increased to 19% compared to 16% in the previous year, with non-GAAP operating margin at 25%, up from 24%[4]. Cash Flow - Free cash flow for the first quarter was 101.2million,calculatedfromcashprovidedbyoperationsof101.2 million, calculated from cash provided by operations of 190.6 million minus capital expenditures of 89.4million[5].FinancialGuidance−Fiscalyear2025totalrevenueguidanceissetbetween89.4 million[5]. Financial Guidance - Fiscal year 2025 total revenue guidance is set between 4,080 million and 4,158million,withorganicgrowthprojectedat64,158 million, with organic growth projected at 6% to 8%[12]. - CooperVision revenue guidance for fiscal 2025 is between 2,733 million and 2,786million,withorganicgrowthexpectedat6.52,786 million, with organic growth expected at 6.5% to 8.5%[12]. - CooperSurgical revenue guidance for fiscal 2025 is projected between 1,347 million and 1,372million,withorganicgrowthanticipatedat41,372 million, with organic growth anticipated at 4% to 6%[12]. - Non-GAAP diluted EPS guidance for fiscal 2025 is raised to a range of 3.94 to 4.02,upfromthepreviousguidanceof4.02, up from the previous guidance of 3.92 to 4.02[12].InterestExpenseandDebt−Thecompanyreportedadecreaseininterestexpenseto4.02[12]. Interest Expense and Debt - The company reported a decrease in interest expense to 26.0 million from 29.9millioninthepreviousyearduetolowerinterestratesandreducedaveragedebt[4].AssetsandLiabilities−TotalassetsasofJanuary31,2025,were29.9 million in the previous year due to lower interest rates and reduced average debt[4]. Assets and Liabilities - Total assets as of January 31, 2025, were 12,222.2 million, a decrease from 12,315.2millionasofOctober31,2024[36].−Totalliabilitiesdecreasedto12,315.2 million as of October 31, 2024[36]. - Total liabilities decreased to 4,094.7 million from 4,231.6million,indicatingimprovedfinancialhealth[36].One−TimeTaxBenefit−Infiscal2021,theCompanyrecordedaone−timetaxbenefitofapproximately4,231.6 million, indicating improved financial health[36]. One-Time Tax Benefit - In fiscal 2021, the Company recorded a one-time tax benefit of approximately 2.0 billion due to the transfer of CooperVision intellectual property and goodwill to its UK subsidiary[27].