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The Cooper Companies, Inc. (NYSE: COO) is a global medical device company specializing in improving quality of life through innovative products and services. Headquartered in San Ramon, CA, Cooper operates through two main business units: CooperVision and CooperSurgical.CooperVision is a leader in the contact lens industry, offering a diverse range of high-quality contact lenses, including spherical, multifocal, toric, and specialty lenses. With brands like Proclear, Biofinity, MyDay, and Clariti, CooperVision commands roughly one-fourth of the US contact lens market. The company is committed to providing excellent practitioner support, ensuring that both users and professionals benefit from their cutting-edge solutions.
CooperSurgical, founded in 1990, focuses on women's health and fertility, offering market-leading products and treatment options. The division supplies clinicians with over 600 medical devices and treatment solutions related to reproductive care, fertility, and women's health. Notably, CooperSurgical owns Paragard, the only hormone-free IUD available in the US, holding a 17% share of the US IUD market. Additionally, CooperSurgical has the largest medical device coverage for the entire IVF cycle.
With a workforce of over 15,000 employees and products available in more than 130 countries, CooperCompanies is dedicated to delivering shareholder value while enhancing the lives of individuals globally. The company continues to innovate and expand, recently achieving record annual revenues and strong earnings. Noteworthy advancements include a four-for-one stock split set to become effective on February 16, 2024, and partnerships like that with Fulgent Genetics to offer exclusive newborn genetic screening panels through Cord Blood Registry.
Cooper's fiscal year 2023 showcased significant milestones, including double-digit organic growth in their fertility segment and strong performance in contact lenses. As they move into fiscal year 2024, Cooper remains focused on their strategic objectives: gaining market share, driving profitability, and launching innovative products and services.
For more information, please visit CooperCompanies.
Evolus (NASDAQ: EOLS), a performance beauty company, has appointed Albert G. White III to its Board of Directors, effective July 1. White is currently the President and CEO of The Cooper Companies and will also join Evolus' Compensation Committee.
Chairman Vik Malik emphasized White's extensive industry experience and leadership, noting that his expertise will support Evolus' transition from a single-product company to a multi-product beauty innovator. White expressed enthusiasm for joining Evolus at a pivotal time, highlighting the success of the company's flagship product, Jeuveau, and its promising pipeline of filler products.
White's extensive background includes roles as CEO, CFO, and Chief Strategy Officer at Cooper Companies, as well as positions in investor relations and treasury. Evolus' Board will now consist of seven directors, six of whom are independent.
CooperCompanies (Nasdaq: COO) announced its Q2 2024 financial results, showing a 7% year-over-year revenue increase to $942.6 million. CooperVision (CVI) revenue rose 8% to $635.9 million, while CooperSurgical (CSI) revenue increased 6% to $306.7 million. GAAP diluted EPS was $0.44, up 122% from last year's Q2. Non-GAAP diluted EPS was $0.85, a 10% increase. Gross margin held steady at 67%. Operating margin improved to 17% from 11% last year. Interest expense rose to $28.9 million due to higher debt and interest rates. Free cash flow was $36.9 million. The company raised its FY 2024 guidance, predicting total revenue of $3.863-$3.905 billion and non-GAAP EPS of $3.54-$3.60.
CooperCompanies released its 2023 Environmental, Social, and Governance (ESG) Report, highlighting their efforts in health, wellness, and environmental protection. The company made healthcare solutions more accessible in underserved communities and invested in global employee development. The report, aligned with the Sustainability Accounting Standards Board (SASB) framework, provides updated and expanded ESG performance data. CEO Al White emphasized the company's commitment to sustainability and innovation.
Find the full report at: https://coopercos.com/esg/
CooperCompanies (Nasdaq: COO), a global leader in medical devices, announced its participation in the Jefferies Global Healthcare Conference on June 6, 2024. Brian Andrews, the Executive Vice President, Chief Financial Officer & Treasurer, will represent the company in a session at 1:30 PM ET. The presentation will be accessible via a webcast on the CooperCompanies' investor relations website.
CooperCompanies (Nasdaq: COO), a global medical device firm, is set to participate in the William Blair Growth Stock Conference on June 5, 2024. Dan McBride, Executive Vice President & Chief Operating Officer, will represent the company in a session at 11:00 AM ET. Interested parties can view the webcast via the CooperCompanies' investor website.
The Canadian Association of Optometrists has launched a digital campaign called 'GetEyeWise' during Vision Health Month to raise awareness about eye health and encourage regular eye exams. The campaign aims to educate Canadians about the importance of eye care, especially early detection of eye-threatening conditions. With the support of various provincial associations of optometrists and industry sponsors, the initiative highlights the urgent need for public education on eye health and vision care.
CooperCompanies will release its second quarter 2024 financial results on May 30, 2024, at 4:15 PM ET. A conference call to discuss the results and corporate developments will follow at 5:00 PM ET. Investors can access the call via dial-in number 800-715-9871 and conference ID 1712676. An audio webcast and replay will be available at http://investor.coopercos.com.
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