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Jan 31, 2023
Cooper Q1 2023 Earnings Report
CooperCompanies reported first quarter results with revenue up 9% and strong operational performances at both CooperVision and CooperSurgical.
Key Takeaways
CooperCompanies announced a 9% increase in revenue to $858.5 million. GAAP diluted EPS was $1.70, while non-GAAP diluted EPS was $2.90. The company's CooperVision and CooperSurgical segments showed revenue increases of 4% and 23%, respectively.
Revenue increased 9% year-over-year to $858.5 million.
CooperVision revenue was up 4% to $581.3 million.
CooperSurgical revenue was up 23% to $277.2 million.
GAAP diluted earnings per share (EPS) was $1.70, down 11% from last year.
Cooper
Cooper
Cooper Revenue by Segment
Cooper Revenue by Geographic Location
Forward Guidance
The Company updated its fiscal year 2023 financial guidance. Fiscal 2023 total revenue of $3,496 - $3,553 million (organic growth of 7% to 9%). Fiscal 2023 non-GAAP diluted earnings per share of $12.60 - $12.90
Positive Outlook
- Fiscal 2023 total revenue of $3,496 - $3,553 million
- Organic growth of 7% to 9%
- CVI revenue of $2,352 - $2,388 million
- Organic growth of 8% to 9% for CVI
- CSI revenue of $1,144 - $1,166 million
Challenges Ahead
- Organic growth of 5% to 7% for CSI
- Fiscal 2023 guidance does not include the Cook Medical Reproductive Health acquisition
- Transaction is pending regulatory approval
- Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets
- Excludes acquisition, integration and manufacturing related costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income