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Cooper
🇺🇸 NASDAQ:COO
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Jul 31, 2022

Cooper Q3 2022 Earnings Report

Reported record revenues with CooperVision and CooperSurgical's fertility business showing strong organic revenue growth.

Key Takeaways

CooperCompanies announced its fiscal third quarter results with revenue increasing by 10% year-over-year to $843.4 million. CooperVision's revenue increased by 2% to $566.3 million, while CooperSurgical's revenue increased by 35% to $277.1 million. GAAP diluted earnings per share were $1.98, and non-GAAP diluted earnings per share were $3.19.

Revenue increased 10% year-over-year to $843.4 million.

CooperVision (CVI) revenue up 2% to $566.3 million.

CooperSurgical (CSI) revenue up 35% to $277.1 million.

Non-GAAP diluted earnings per share $3.19, down 6% from last year's third quarter.

Total Revenue
$843M
Previous year: $763M
+10.5%
EPS
$0.8
Previous year: $0.85
-5.9%
Gross margin
65%
Previous year: 68%
-4.4%
Operating margin
17%
Previous year: 13%
+30.8%
Gross Profit
$552M
Previous year: $516M
+7.0%
Cash and Equivalents
$246M
Previous year: $112M
+119.5%
Free Cash Flow
$217M
Previous year: $180M
+20.6%
Total Assets
$11.6B
Previous year: $9.61B
+20.2%

Cooper

Cooper

Cooper Revenue by Segment

Cooper Revenue by Geographic Location

Forward Guidance

The Company updated its fiscal year 2022 financial guidance.

Positive Outlook

  • Fiscal 2022 total revenue $3,290 - $3,310 million (organic growth of 10% to 11%)
  • CVI revenue $2,236 - $2,247 million (organic growth of 11% to 12%)
  • CSI revenue $1,055 - $1,064 million (organic growth of 7% to 8%)
  • Fiscal 2022 non-GAAP diluted EPS $12.72 - $12.87
  • Fiscal fourth quarter 2022 total revenue $830 - $850 million (organic growth of 9% to 11%)

Challenges Ahead

  • CVI revenue $554 - $565 million (organic growth of 8% to 10%)
  • CSI revenue $276 - $285 million (organic growth of 10% to 15%)
  • Fiscal fourth quarter 2022 non-GAAP diluted EPS $3.05 - $3.20
  • Fiscal year 2022 financial guidance does not include the Cook Medical Reproductive Health acquisition announced on February 7, 2022, as the transaction is pending regulatory approval.
  • 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

Company Overview

Full financial data and analysis

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