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Jul 31, 2021
Cooper Q3 2021 Earnings Report
CooperCompanies reported strong third-quarter results with record revenues driven by CooperVision and CooperSurgical.
Key Takeaways
CooperCompanies announced a strong third quarter with revenue increasing by 32% year-over-year to $763.4 million. Both CooperVision and CooperSurgical experienced record revenues, contributing to record earnings and robust free cash flow. GAAP diluted earnings per share reached $12.37, while non-GAAP diluted earnings per share was $3.41, a 50% increase from the previous year.
Revenue increased 32% year-over-year to $763.4 million.
CooperVision (CVI) revenue was up 24% to $557.5 million.
CooperSurgical (CSI) revenue was up 60% to $205.9 million.
Non-GAAP diluted earnings per share was $3.41, up 50% from last year's third quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
CooperCompanies updated its fiscal year 2021 financial guidance, while still viewing resurgences as a significant risk factor to our outlook.
Positive Outlook
- Fiscal 2021 total revenue $2,893- $2,923 million (16% to 18% constant currency)
- CVI revenue $2,127 - $2,147 million (12% to 13% constant currency)
- CSI revenue $766 - $776 million (29% to 31% constant currency)
- Fiscal 2021 non-GAAP diluted EPS $13.20 - $13.40
- Fiscal fourth quarter 2021 total revenue $730 - $760 million (7% to 11% constant currency)
Challenges Ahead
- CVI revenue $540 - $560 million (6% to 10% constant currency)
- CSI revenue $190 - $200 million (9% to 14% constant currency)
- Fiscal fourth quarter 2021 non-GAAP diluted EPS $3.24 - $3.44
- 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
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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