Cooper Companies Posts Smaller Than Expected Q3 Profits, Guidance Lags Estimates

Vandana Singh
1 min read
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In this article:

  • Cooper Companies Inc's (NYSE: COO) Q3 FY22 revenues increased 10% Y/Y to $843.4 million, up 18% in constant currency and 9% organically, beating the consensus of $832.68 million.

  • The CooperVision (CVI) segment revenue increased 2% to $566.3 million, and CooperSurgical (CSI) revenue up 35% to $277.1 million.

  • Adjusted EPS of $3.19 was down 6% Y/Y, missing the consensus of $3.24.

  • The adjusted gross margin was 66%, down from 68% last year. Adjusted operating margin compressed to 23% from 27% in last year's first quarter.

  • Cash provided by operations of $263.9 million, offset by capital expenditures of $46.6 million, resulted in a free cash flow of $217.3 million.

  • Related: What This Analyst Expects From Cooper Companies Q3 Earnings.

  • Guidance: Cooper Companies expects FY22 sales of $3.29-$3.31 billion versus the previous guidance of $3.28-$3.31 billion and the consensus of $3.29 billion.

  • The outlook includes CVI segment revenue of $2.24 - $2.25 billion and CSI segment sales of $1.06 - $1.06 billion.

  • For FY22, the company expects adjusted EPS of $12.72 - $12.87, versus the consensus of $13.14 and prior guidance of $13.09 - $13.29.

  • For Q4 FY22, the company expects sales of $830 - $850 million, compared to the consensus of $841.43 million.

  • It forecasts an adjusted EPS of $3.05 - $3.20 below the consensus of $3.42.

  • Price Action: COO shares traded 1.09% higher at $290.59 on the last check Thursday.

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