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Apr 30, 2024
Cooper Q2 2024 Earnings Report
CooperCompanies reported record quarterly revenues and operational progress, with CooperVision returning to double-digit growth and CooperSurgical posting a solid quarter.
Key Takeaways
CooperCompanies announced its second quarter 2024 results with a 7% increase in revenue year-over-year, reaching $942.6 million. GAAP EPS increased by 122% to $0.44, and non-GAAP EPS increased by 10% to $0.85. The company has raised its fiscal year 2024 financial guidance.
Revenue increased 7% year-over-year to $942.6 million.
CooperVision (CVI) revenue was up 8% to $635.9 million.
CooperSurgical (CSI) revenue was up 6% to $306.7 million.
GAAP diluted earnings per share (EPS) of $0.44, up $0.24 or 122% from last year's second quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company raised its fiscal year 2024 financial guidance.
Positive Outlook
- Fiscal 2024 total revenue of $3,863 - $3,905 million (organic growth of 7.5% to 8.5%)
- CVI revenue of $2,591 - $2,613 million (organic growth of 8.5% to 9.5%)
- CSI revenue of $1,272 - $1,292 million (organic growth of 5% to 7%)
- Fiscal 2024 non-GAAP diluted EPS of $3.54 - $3.60
- Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods.
Challenges Ahead
- Non-GAAP diluted earnings per share 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 which we may incur as part of our continuing operations.
- With respect to the Company’s guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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