Cooper Companies Reports Mixed Q4 Results

Cooper Companies Reports Mixed Q4 Results
  • Cooper Companies Inc COO reported that Q4 sales increased 11% Y/Y to $759.1 million, beating the consensus of $747.85 million.
  • Q4 adjusted EPS of $3.28 increased 4% Y/Y, missing the consensus of $3.37.
  • Adjusted gross margin compressed to 67% from 68% a year ago, driven primarily by currency.
  • Adjusted operating margin was 25%, down from 27% last year, driven primarily by investment activity.
  • CooperVision (CVI) Revenue reached $564.8 million, up 12% Y/Y, up 11% in constant currency.
  • The company achieved CooperSurgical (CSI) revenue of $194.3 million, +11% on a reported and constant currency basis.
  • Cash provided by operations $174.5 million offset by capital expenditures $65.0 million resulted in free cash flow of $109.5 million. Net debt outstanding at quarter-end was $1.38 billion.
  • Guidance: Cooper Companies expects FY22 sales of $3.032 billion - $3.09 billion (+6% to 8% in constant currency), compared to a consensus of $3.09 billion.
  • The sales outlook includes CVI revenue of $2.225 billion - $2.267 billion and CSI revenue of $807 million - $823 million.
  • Cooper Companies sees adjusted EPS of $13.60 - $14.00 (consensus of $14.49).
  • Related: CooperSurgical Expands Fertility, Labor & Delivery With $1.6B Acquisition Deal.
  • Price Action: COO shares are up 2.51% at $387.43 during the market session on the last check Friday.
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