Cooper Cos. (COO) Misses Q1 EPS by 2c, Revenues Miss

Cooper Cos. (NYSE: COO) reported Q1 EPS of $2.69, $0.02 worse than the analyst estimate of $2.71. Revenue for the quarter came in at $646.2 million versus the consensus estimate of $648.04 million.

• Revenue increased 3% year-over-year to $646.2 million. CooperVision (CVI) revenue up 3% to $485.2 million, and CooperSurgical (CSI) revenue up 2% to $161.0 million.
• GAAP diluted earnings per share $1.82, down 25 cents or 12% from last year's first quarter.
• Non-GAAP diluted earnings per share $2.69, down 19 cents or 7% from last year's first quarter. See "Reconciliation of GAAP Results to Non-GAAP Results" below.

Commenting on the results, Albert White, Cooper’s president and chief executive officer said, "CooperCompanies is off to a strong start to fiscal 2020 as we continue successfully implementing our strategic objectives. The first quarter saw strength in our 1-day silicone hydrogel lens franchises, our MyDay® production improving and the beginning of our MiSight® launch in the U.S. We believe we are well positioned to build on our growth as we move through the year even with the challenges presented from the coronavirus."

For earnings history and earnings-related data on Cooper Cos. (COO) click here.

You May Also Be Interested In

• Morgan Stanley upgrades CDW on stronger AI-driven server demand
• Amdocs completes AI-RAN field blueprint with 1Finity and Supermicro
• Safe Pro wins $1.3M subcontract for AI landmine detection on UGVs