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Jul 31, 2020
Cooper Q3 2020 Earnings Report
CooperCompanies' third quarter results were negatively impacted by COVID-19, but solidly exceeded expectations due to a faster than expected recovery.
Key Takeaways
CooperCompanies reported a 15% year-over-year decrease in revenue to $578.2 million. GAAP diluted earnings per share were $1.12, a 53% decrease, and non-GAAP diluted earnings per share were $2.28, a 30% decrease. The company experienced a faster than expected recovery as the quarter progressed.
Revenue decreased 15% year-over-year to $578.2 million.
CooperVision (CVI) revenue was down 12% to $449.3 million.
CooperSurgical (CSI) revenue was down 24% to $128.9 million.
Non-GAAP diluted earnings per share was $2.28, down 30% from last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company provided its fiscal fourth quarter 2020 guidance, expecting total revenue between $665 - $693 million and non-GAAP diluted earnings per share between $3.00 - $3.20.
Positive Outlook
- Fiscal fourth quarter 2020 total revenue $665 - $693 million
- CVI revenue $500 - $520 million
- CSI revenue $165 - $173 million
- Fiscal fourth quarter 2020 non-GAAP diluted earnings per share $3.00 - $3.20
- 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, integration and manufacturing related costs which we may incur as part of our continuing operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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