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Jul 31, 2023
Cooper Q3 2023 Earnings Report
CooperCompanies reported strong Q3 2023 results, marked by record revenues in both CooperVision and CooperSurgical, driven by strategic growth initiatives.
Key Takeaways
CooperCompanies announced a 10% increase in revenue to $930.2 million. GAAP diluted EPS was $1.71, while non-GAAP diluted EPS reached $3.35. The company's performance was driven by strong results from both CooperVision and CooperSurgical.
Revenue increased by 10% year-over-year to $930.2 million.
CooperVision revenue was up 11% to $630.2 million.
CooperSurgical revenue increased by 8% to $300.0 million.
Non-GAAP diluted EPS increased by 5% to $3.35.
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 updated its fiscal year 2023 financial guidance. Fiscal 2023 total revenue of $3,578 - $3,595 million (organic growth of 9% to 10%). Fiscal 2023 non-GAAP diluted earnings per share of $12.72 - $12.90.
Positive Outlook
- Fiscal 2023 total revenue of $3,578 - $3,595 million (organic growth of 9% to 10%)
- CVI revenue of $2,414 - $2,425 million (organic growth of 10% to 11%)
- CSI revenue of $1,164 - $1,170 million (organic growth of 7% to 8%)
- Fiscal fourth quarter 2023 total revenue of $912 - $929 million (organic growth of 7% to 9%)
- CVI revenue of $613 - $624 million (organic growth of 8% to 10%)
Challenges Ahead
- CSI revenue of $299 - $305 million (organic growth of 5% to 7%)
- Fiscal fourth quarter 2023 non-GAAP diluted earnings per share of $3.39 - $3.57
- Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets
- Excludes other exceptional or unusual income or gains and charges or expenses including acquisition and integration costs
- 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