SAN RAMON, Calif. - Cooper Companies (NYSE:COO) reported fourth quarter earnings that beat estimates, but shares plunged 7.9% after hours as the medical device maker's guidance fell short of expectations.
The contact lens and women's health products company posted adjusted earnings per share of $1.04 for the quarter ended October 31, topping the analyst consensus of $1.00. Revenue came in at $1.02 billion, slightly below estimates of $1.03 billion but up 10% YoY.
However, Cooper's outlook for fiscal 2025 disappointed investors. The company forecast full-year adjusted EPS of $3.92-$4.02, below the $4.05 Wall Street was expecting. Revenue guidance of $4.08-$4.16 billion also missed the $4.19 billion consensus.
"Fiscal 2024 was a great year for Cooper having achieved record consolidated revenues, including record CooperVision revenues, record CooperSurgical revenues and record non-GAAP EPS," said CEO Al White. "We look forward to continued success in fiscal 2025."
For the fourth quarter, CooperVision contact lens revenue rose 9% to $676.4 million, while CooperSurgical revenue increased 12% to $342 million.
The company expects organic revenue growth of 6-8% in fiscal 2025.
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