The Cooper Companies Inc
COO
$70.46 1.94%
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

The Cooper Companies Inc (COO) Q2 2024 Financial Results Report: Record Revenues & Continued Growth Amid Operational Challenges

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

942.60M
QoQ: 1.18% | YoY:7.43%

Gross Profit

580.90M
61.63% margin
QoQ: 1.29% | YoY:-0.34%

Operating Income

161.70M
QoQ: 5.62% | YoY:67.91%

Net Income

88.90M
QoQ: 9.48% | YoY:123.37%

EPS

0.45
QoQ: 9.76% | YoY:125.00%

Revenue Trend

Margin Analysis

Key Insights

  • **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.

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
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