The Cooper Companies Inc (COO) Q2 2024 Earnings Report

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The Cooper Companies Inc

COO

$81.40 5.67%

Exchange: NASDAQ | Sector: Healthcare | Industry: Medical Instruments Supplies

Q2 2024

Published: May 31, 2024

Earnings Highlights

Revenue of $942.60M up 7.4% year-over-year
EPS of $0.44 increased by 125% from previous year
Gross margin of 61.6%
Net income of 88.90M
""We are planning to raise our revenue and earnings guidance by incorporating this past quarter and the momentum we're seeing in our markets." - Al White" - Al White

COO

The Cooper Companies Inc

Period Q2 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

The Cooper Companies Inc reported exceptional results for Q2 2024, achieving record quarterly revenues of $943 million, representing an 8% increase year-over-year. This growth was primarily driven by CooperVision, which returned to double-digit growth with an 11% increase in revenue. CooperSurgical, despite operational challenges related to a systems upgrade, managed a respectable 4% revenue growth. Management highlights include successful expansion in the silicone hydrogel lens portfolio and strategic investments that are beginning to bear fruit, with a focus on increased production capacity amidst robust market demand. Looking ahead, management has raised guidance for both revenue and earnings as they capitalize on operational momentum and innovative product offerings.

Key Performance Indicators

Revenue

Increasing

942.60M

QoQ: 1.18% | YoY: 7.43%

Gross Profit

Decreasing

580.90M

61.63% margin

QoQ: 1.29% | YoY: -0.34%

Operating Income

Increasing

161.70M

QoQ: 5.62% | YoY: 67.91%

Net Income

Increasing

88.90M

QoQ: 9.48% | YoY: 123.37%

EPS

Increasing

0.45

QoQ: 9.76% | YoY: 125.00%

Revenue Trend

Margin Analysis

Financial Highlights

- Revenue: $943 million, +8% YoY, with CooperVision at $636 million (+11% YoY) and CooperSurgical at $307 million (+4% YoY).
- Gross Profit: $580.9 million with a gross margin of 61.6%, up from 61.5% in the previous year.
- Operating Income: $161.7 million, improving operating margin to 17.2%.
- Net Income: $88.9 million, reflecting a 123% increase YoY.
- EPS: $0.45 reported, $0.85 on a non-GAAP basis, +10% YoY.
- Free Cash Flow: $37 million with capital expenditures of $74 million.
- Debt: Reduced net debt to $2.6 billion.
- Effective Tax Rate: 13.5%, positively impacted by stock option exercises, expected to remain around 14% for the year.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	942.60M	7.43%	1.18%
Gross Profit	580.90M	-0.34%	1.29%
Operating Income	161.70M	67.91%	5.62%
Net Income	88.90M	123.37%	9.48%
EPS	0.45	125.00%	9.76%

Key Financial Ratios

Gross Profit Margin

Excellent

61.60%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Good

17.20%

Operating margin is healthy and competitive within industry standards

Net Profit Margin

Fair

9.43%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.74%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.14%

Return on equity suggests inefficient capital allocation

Current Ratio

Healthy

1.95

Current ratio shows adequate liquidity to meet short-term obligations

Debt to Equity

Moderate

0.35

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

High Growth

49.81x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

Fair Value

2.27x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	1,002.30	0.44	+6.3%	View
Q1 2025	964.70	0.52	+3.6%	View
Q4 2024	1,018.40	0.58	+9.9%	View
Q3 2024	1,002.80	0.52	+7.8%	View
Q2 2024	942.60	0.44	+7.4%	View

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The Cooper Companies Inc (COO) Q2 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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