Cooper Companies Shatters Records in Q4 and Fiscal 2024, Sets Sights on Share Growth and Innovation in 2025

Cooper Companies Shatters Records in Q4 and Fiscal 2024, Sets Sights on Share Growth and Innovation in 2025


Cooper Companies, a leading healthcare provider of contact lenses and surgical instruments, has shattered records in its fourth quarter (Q4) and fiscal year 2024. The company reported record revenues of $3.9 billion for the full year, with both CooperVision and CooperSurgical achieving all-time highs.

Al White, President and Chief Executive Officer of Cooper Companies, praised the employees on a fantastic fiscal 2024 during the earnings call. He noted that Q4 was a solid quarter, led by strength in silicone hydrogel dailies and full suites of torics and multifocals for CooperVision.

CooperSurgical also had a strong showing, driven by double-digit growth in fertility offset by a greater decline in PARAGARD than expected. The company's P&L improved with prior investment activity driving margin improvements and strong earnings growth.

The highlight of the quarter was the contact lens market, which grew 10% year-over-year or 7% organically, with CooperVision reporting quarterly revenues of $676 million, up 9% or 8% organically. This solid performance positions the company to take share and drive profitability in fiscal 2025.

Cooper Companies forecasted the contact lens market growing 5-7% in constant currency with the company taking share growing 6.5-8.5%. Price should offset inflation, supporting around one-third of the growth, while the rest comes from trade-up to dailies, growth in torics and multifocals, and growth in wearers.

For CooperSurgical, the company expects organic growth in the mid-single digits, with fertility reporting high single-digit growth and the remainder of the business posting low single-digit growth. Non-GAAP earnings per share grew 19% to $1.04 during Q4.

The company's commitment to innovation was evident as it launched new products and expanded its state-of-the-art manufacturing capacity. With a focus on taking share, driving profitability, and executing strategic priorities, Cooper Companies is poised for continued success in fiscal 2025.

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