With a market cap of $14.4 billion, The Cooper Companies, Inc. (COO) is a global medical device company that develops, manufactures, and markets contact lenses through its CooperVision segment and women’s and family health care products through its CooperSurgical segment. It serves eye care and health care professionals worldwide with a broad range of vision correction, fertility, and medical device solutions. Shares of the San Ramon, California-based company have underperformed the broader market over th ...

ATS Corporation Conference Call Summary Company Overview - **Company**: ATS Corporation (NYSE: ATS) - **Date**: November 18, 2025 - **Speaker**: Ryan McLeod, Interim CEO Key Points Industry and Market Dynamics - **Life Sciences Sector**: ATS has six independent life science businesses, with a focus on automation and drug delivery mechanisms, particularly auto injectors, which account for approximately 10% of total revenues and 20% of life science revenues [7][15][16] - **Growth in GLP-1 Market**: The GLP-1 segment is expected to remain a significant revenue contributor over the next five years, with high growth potential due to increasing consumer demand for drug delivery devices [15][23] - **Radiopharma Growth**: Investment in radiopharmaceuticals for cancer treatment is driving growth, with a shift towards personalized medicine leading to more specific therapies [17][18] - **Wearable Devices**: ATS is involved in the development of wearable devices, expanding their market from diabetes treatment to general consumer applications [19][20] Financial Performance - **Q2 Fiscal Results**: Revenues increased by approximately 12% year-over-year, with a backlog growth of 13.5% [11][12] - **Margin Expansion**: ATS is on track for high single-digit organic growth and has seen sequential margin expansion, particularly in Q2 [12][13] - **Transportation Segment**: The transportation business has stabilized at around $50 million per quarter, with no expected growth in the next three to five years due to market saturation and technology changes [30][31] Strategic Initiatives - **Restructuring and Optimization**: ATS has undergone significant restructuring to optimize performance, particularly in the transportation segment, while exploring adjacent opportunities in industrial manufacturing and reshoring [31][33] - **Nuclear Business Growth**: The nuclear segment is expected to grow, with a focus on refurbishment, decommissioning, and new builds, particularly in the context of increasing energy demands [25][27][28] Leadership Transition - **CEO Search**: The board is actively engaged in the search for a new CEO, prioritizing candidates with strong backgrounds in continuous improvement and M&A [56][59] Other Considerations - **Working Capital Management**: ATS aims to reduce working capital investment from approximately 18% to a target of 15% of sales, with larger life science programs expected to contribute to this goal [46][48] - **Market Positioning**: ATS is focused on high-consequence markets such as life sciences and food, which are less cyclical and emphasize quality and time to market [44][45] This summary encapsulates the key insights from the ATS Corporation conference call, highlighting the company's strategic focus, market dynamics, and financial performance.

Third Quarter 2025 Financial Results November 5, 2025 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements contained under "Fiscal 2025 Outlook," as well as other statements related to our current beliefs and expectations regarding the performance of our in ...

Company Overview - CooperCompanies is a leading global medical device company with a focus on enhancing people's lives through its two business units: CooperVision and CooperSurgical [3] - CooperVision specializes in the contact lens industry, while CooperSurgical is dedicated to fertility and women's healthcare [3] - The company is headquartered in San Ramon, California, employs over 16,000 people, and sells products in more than 130 countries, positively impacting over fifty million lives annually [3] Financial Reporting - CooperCompanies will report its fourth quarter and full year 2025 financial results on December 4, 2025, at 4:15 PM ET [1] - A conference call to discuss the results and corporate developments will follow at 5:00 PM ET [1] Conference Call Details - The dial-in number for the conference call is 800-715-9871, and the conference ID is 2700541 [2] - An audio webcast and subsequent replay will be available at http://investor.coopercos.com [2]

Core Viewpoint - The Cooper Companies, Inc. (COO) is experiencing significant stock price declines despite a solid market position in the specialty medical device sector, particularly in contact lenses and surgical instruments, with a market cap of $12.8 billion [1][2]. Financial Performance - The stock reached a 52-week high of $112.29 on September 19, 2024, but is currently trading 40.1% below that peak [3]. - Year-to-date, the stock has plummeted 26.9% and has decreased 39.2% over the past 52 weeks, underperforming the S&P 500 Index, which has seen a 12.8% increase in 2025 and 18% returns over the past year [4]. - Following the release of mixed Q3 results on August 27, the stock dropped 12.9%, with organic revenues growing by only 2% year-over-year, missing expectations [5]. - Total sales for the quarter were $1.1 billion, reflecting a 5.7% year-over-year increase but falling short of expectations by 50 basis points [5]. Earnings and Comparisons - Adjusted EPS increased by 14.6% year-over-year to $1.10, surpassing consensus estimates by 2.8% [6]. - Compared to peers, COO has underperformed Hologic, Inc. (HOLX), which experienced a 5.3% decline year-to-date and a 16.5% drop over the past 52 weeks [6].

Core Points - CooperCompanies announced a $1 billion increase in its share repurchase program, bringing the total to $2 billion [1][2] - The decision reflects the strength of the company's balance sheet and cash flow generation, indicating confidence in long-term growth [2] - The share repurchase program will be executed based on market conditions and can be suspended or discontinued at any time [2] Company Overview - CooperCompanies is a global medical device company with two main business units: CooperVision and CooperSurgical [3] - CooperVision is a leader in the contact lens industry, while CooperSurgical focuses on fertility and women's healthcare [3] - The company is headquartered in San Ramon, CA, employs over 16,000 people, and sells products in more than 130 countries, impacting over 50 million lives annually [3]

Financial Data and Key Metrics Changes - The company reported strong growth in the second quarter, with a significant contribution from ticket sales despite a slight decline in traffic [32][34] - Operating margin expanded by 180 basis points year to date, with gross margin improvements also noted [37][39] Business Line Data and Key Metrics Changes - The company is focusing on evolving its ticket through price and assortment changes, indicating room for growth in this area [32] - Managed care customers are underdeveloped, with the company aiming to increase its customer count in this segment [34] Market Data and Key Metrics Changes - The consumer base is evolving, with a shift from a lower-income cash pay market to a more diverse demographic, including managed care and progressive customers [11][30] - The company has seen resilience in lower-income consumers, with some signs of acceleration in purchase cycles [4][5] Company Strategy and Development Direction - The company is pivoting its business model to better serve existing consumers by redefining value, particularly for managed care members [12][51] - Significant management changes have been made to enhance operational efficiency and adapt to market demands [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about consumer health, noting that consumers are gravitating towards higher-end products [53][54] - The company is focused on maintaining its position as a value leader while adapting to changing consumer expectations [12][51] Other Important Information - The company has implemented a remote care technology strategy to address doctor scarcity and improve patient access [19][45] - A new brand identity campaign has been launched, receiving positive initial consumer feedback [15] Q&A Session Summary Question: What are the expectations for the consumer environment in the second half? - Management is optimistic about consumer health, noting stability and increased traffic in managed care segments [53][54] Question: How is pricing affected by higher tariff costs? - The company has had minimal tariff exposure and has not seen significant consumer pushback on price increases [56][57] Question: What are the expectations for inventory growth into the second half? - The company operates a showroom-based inventory model, allowing for efficient inventory management [60] Question: What is the outlook for margins in the coming years? - Management is focused on expanding operating margins through strategic initiatives and cost control measures [39][61] Question: Will there be more market share consolidation in 2026? - Management expects consolidation to continue at a similar pace, influenced by private equity activity [63][65]

Core Insights - CooperCompanies reported strong margins, double-digit earnings growth, and robust free cash flow, although revenues were below expectations. The company raised its earnings guidance for the fiscal year 2025, anticipating improved revenue in Q4 and fiscal 2026 driven by MyDAY® [2][5]. Financial Performance - Total revenue for the third quarter of fiscal 2025 was $1,060.3 million, representing a 6% increase year-over-year. CooperVision (CVI) revenue was $718.4 million, up 6%, while CooperSurgical (CSI) revenue was $341.9 million, up 4% [5][6]. - GAAP diluted earnings per share (EPS) was $0.49, down 6% from the previous year, while non-GAAP diluted EPS increased by 15% to $1.10 [5][6]. - Gross margin was 65%, down from 66% year-over-year, primarily due to a product line exit at CooperSurgical. Non-GAAP gross margin improved by 70 basis points to 67% [6][19]. - Operating margin was 17%, down from 19% year-over-year, but non-GAAP operating margin increased by 60 basis points to 26% [6][19]. Revenue Breakdown - CooperVision revenue by category included: - Toric and multifocal lenses: $358.8 million, a 10% increase year-over-year - Sphere and other lenses: $359.6 million, a 3% increase year-over-year [4][7]. - Revenue by geography showed: - Americas: $286.0 million, a 2% increase year-over-year - EMEA: $292.1 million, a 14% increase year-over-year - Asia Pacific: $140.3 million, a 1% increase year-over-year [4][7]. Cash Flow and Share Repurchase - Cash provided by operations was $261.5 million, with capital expenditures of $96.9 million, resulting in free cash flow of $164.6 million [6][9]. - The company repurchased $52.1 million of common stock, approximately 724.3 thousand shares, under its existing share repurchase program [9]. Fiscal Year 2025 Guidance - The company updated its fiscal year 2025 financial guidance, projecting total revenue of $4,076 - $4,096 million with organic growth of 4% to 4.5% [10][13]. - Non-GAAP diluted EPS guidance for fiscal 2025 is projected to be between $4.08 and $4.12 [13].

Core Viewpoint - The Cooper Companies, Inc. is expected to report strong third-quarter fiscal 2025 results, with anticipated revenue growth of 5.4% year-over-year and earnings per share (EPS) growth of 8.2% [2][10]. Group 1: Financial Performance - The Zacks Consensus Estimate for revenues is $982 million, reflecting a 5.4% increase from the previous year [2]. - The consensus estimate for earnings is 92 cents per share, indicating an 8.2% improvement from the prior-year period [2]. - The company has consistently beaten earnings estimates, with an average surprise of 3.18% over the last four quarters [1]. Group 2: Segment Performance - Cooper Companies operates under two main segments: CooperVision (CVI) and CooperSurgical (CSI), both of which have shown strength recently [3]. - The CVI segment is expected to benefit from rising demand for contact lenses, with projected sales growth of 6-7% in fiscal 2025 [8]. - The CSI segment may face challenges due to weak fertility demand, but growth in minimally invasive surgical devices is expected to partially offset this weakness [11][12]. Group 3: Product Demand and Innovations - The CVI segment has seen solid growth across all geographies, particularly in The Americas, and is expected to continue this trend [5]. - Strong demand for premium brands like MyDay is anticipated to persist, supported by new market availability and expanded product offerings [6]. - The company is also launching new products, such as MyDay Energy in Canada and upgraded Clarity One Day Sphere in Japan, which are expected to contribute to revenue growth [4]. Group 4: Market Trends and Challenges - The overall market for contact lenses is projected to grow by 4-6% in 2025, benefiting Cooper Companies due to its leadership in several categories [5]. - The fertility segment is experiencing a decline, particularly in the Asia-Pacific region, which may impact overall sales [12]. - Despite challenges in the fertility market, the company anticipates continued interest in its PARAGARD product, although sales may decline in the upcoming quarter [13].

Company Overview - CooperCompanies is a leading global medical device company with a focus on enhancing people's experiences through its two business units: CooperVision and CooperSurgical [2] - CooperVision is a prominent player in the contact lens industry, while CooperSurgical specializes in fertility and women's healthcare [2] - The company is headquartered in San Ramon, California, employs over 16,000 people, and sells products in more than 130 countries, positively impacting over 50 million lives annually [2] Upcoming Events - CooperCompanies will participate in the Wells Fargo Healthcare Conference on September 3, 2025, with President and CEO Al White representing the company [1] - The session is scheduled for 3:00 PM ET, and a webcast will be available for investors and interested parties [1]