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Jan 31, 2024
Cooper Q1 2024 Earnings Report
Reported a revenue increase of 9% year-over-year, reaching $931.6 million, with strong performance in contact lenses and fertility segments and non-GAAP EPS increased by 18% to $0.85.
Key Takeaways
CooperCompanies announced strong Q1 2024 results with record quarterly revenues of $931.6 million, a 9% increase year-over-year. CooperVision revenue grew by 7% and CooperSurgical revenue grew by 12%. The company's non-GAAP EPS increased by 18% to $0.85.
Revenue increased 9% year-over-year to $931.6 million.
CooperVision (CVI) revenue up 7% to $621.5 million.
CooperSurgical (CSI) revenue up 12% to $310.1 million.
Non-GAAP diluted EPS of $0.85, up $0.12 or 18% from last year's first quarter.
Cooper
Cooper
Cooper Revenue by Segment
Cooper Revenue by Geographic Location
Revenue by Segment
Office & Surgical Revenue
CapyFin.comFertility Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
The Company raised its fiscal year 2024 financial guidance.
Positive Outlook
- Fiscal 2024 total revenue of $3,847 - $3,897 million (organic growth of 7% to 8%)
- CVI revenue of $2,573 - $2,604 million (organic growth of 8% to 9%)
- CSI revenue of $1,274 - $1,293 million (organic growth of 5% to 7%)
- Fiscal 2024 non-GAAP diluted EPS of $3.50 - $3.58
- Momentum is excellent with capacity expansion progressing well and demand remaining very healthy.
Challenges Ahead
- Guidance excludes amortization and impairment of intangible assets, and other exceptional or unusual income or gains and charges or expenses including acquisition and integration costs
- inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses
- impact of international conflicts, such as Russia's invasion of Ukraine
- Compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information
- market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers
Revenue & Expenses
Visualization of income flow from segment revenue to net income