Cooper Companies Inc

Latest Results (07.08.2024):

Revenue Growth

Cooper Companies Inc. reported a revenue increase of 9% year-over-year for the first quarter of 2024, reaching $931.6 million. This growth was driven by a 7% increase in CooperVision (CVI) revenue to $621.5 million and a 12% increase in CooperSurgical (CSI) revenue to $310.1 million.

Earnings Per Share

For the first quarter of 2024, Cooper Companies Inc. reported GAAP diluted earnings per share (EPS) of $0.41, which is a decrease of $0.02 or 5% from the previous year's first quarter. However, on a non-GAAP basis, diluted EPS was $0.85, reflecting an increase of $0.12 or 18% from the same period last year.

Operating Margins

Cooper Companies Inc. achieved a gross margin of 67% in the first quarter of 2024, up from 65% in the previous year's first quarter. The operating margin was 16%, compared to 17% last year. On a non-GAAP basis, the operating margin improved to 24% from 23% in the prior year, driven by strong gross margin and SG&A leverage.

CooperVision Revenue Breakdown

In the first quarter of 2024, CooperVision (CVI) reported revenue of $621.5 million, up 7% from the previous year. Revenue growth by category included a 12% increase in Toric and multifocal lenses and a 1% increase in Sphere and other lenses. Geographically, revenue grew by 5% in the Americas, 11% in EMEA, and 4% in Asia Pacific.

Fiscal Year 2024 Financial Guidance

Cooper Companies Inc. raised its fiscal year 2024 financial guidance, projecting total revenue between $3,847 million and $3,897 million, reflecting organic growth of 7% to 8%. The company also expects non-GAAP diluted EPS to be in the range of $3.50 to $3.58 for the fiscal year.