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CooperCompanies Stock Gains 9% on Contact Lenses, Fertility Products Demand

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Key Takeaways

  • CooperCompanies shares surged 9% Friday, a day after it posted better-than-expected earnings and guidance as sales of its contact lenses and fertility products grew.
  • Profit was up 18% from a year ago, and revenue set a quarterly record.
  • CEO Al White said that the company's capacity expansion was progressing well and demand remained healthy.

CooperCompanies (COO) shares soared over 9% Friday, a day af🉐ter the maker of consumer-centric medical equipment beat profit estimates and raised its guidance on higher demand for its contact lenses and fertility products.

The company reported first-quarter fiscal 2024 adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of 85 cents, up 18% from a year earlier and above forecasts of 78 cents. Revenue rose 9% to a quarterly record of $931.6 million, in line with 澳洲幸运5官方开奖结果体彩网:estimates. 

Sales at its CooperꦓVision division increased 7% to $621.5 million. They gained 12% to $310.1 million at its CooperSurgical unit.

CEO Al White said Cooper was “off to an outstanding start” to the fiscal year. He added the firm’s “momentum is excellent with capacity expansion progressing well and demand remaining very healthy."

The company said it anticipates full-year adjusted EPS of $3.♛50 to $3.58, more than expected. It projects revenue between $3.85 billion to $3.90 billion. 

Cooper shares finished 9% higher at $102.19 Friday. They've gained close to 25% over the past year.  

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