CooperCompanies (NYSE: COO) today announced financial results for
its fiscal second quarter ended April 30, 2023.
- Revenue increased 6% year-over-year
to $877.4 million. CooperVision (CVI) revenue up 6% to $589.3
million, and CooperSurgical (CSI) revenue up 4% to $288.1
million.
- GAAP diluted earnings per share
(EPS) of $0.80, down $1.75 or 69% from last year's second
quarter.
- Non-GAAP diluted EPS of $3.08, down
$0.16 or 5% from last year's second quarter. See "Reconciliation of
Selected GAAP Results to Non-GAAP Results" below.
Commenting on the results, Al White, Cooper's President and CEO
said, "This was another strong quarter with CooperVision posting
its ninth consecutive quarter of double-digit organic revenue
growth and CooperSurgical's fertility business posting its tenth
consecutive quarter of double-digit organic revenue growth. This
consistency is a testament to the strength of our businesses and
the hard work of our employees around the world."
Second Quarter Operating
Results
- Revenue of $877.4 million, up 6%
from last year’s second quarter, up 9% in constant currency, up 8%
organically.
- Gross margin of 66% compared with
64% in last year’s second quarter. On a non-GAAP basis, gross
margin was similar to last year at 67%.
- Operating margin of 11% compared
with 16% in last year’s second quarter. On a non-GAAP basis,
operating margin was similar to last year at 24%.
- Interest expense of $26.1 million up
from $10.8 million in last year's second quarter driven by higher
interest rates.
- Net debt outstanding at quarter end
was $2.5 billion (total debt excluding unamortized debt issuance
costs less cash and cash equivalents) down $48.5 million from last
quarter.
- Cash provided by operations of $124.2 million offset by
capital expenditures of $73.6 million resulted in free cash
flow of $50.6 million.
Second Quarter CooperVision (CVI)
Revenue
- Revenue of $589.3 million, up 6%
from last year’s second quarter, up 10% in constant currency, up
10% organically.
- Revenue by category:
|
|
|
|
|
|
Constant Currency |
|
Organic |
|
|
(In millions) |
|
% chg |
|
% chg |
|
% chg |
|
|
2Q23 |
|
y/y |
|
y/y |
|
y/y |
|
Toric |
$ |
206.3 |
|
|
11% |
|
15% |
|
15% |
|
Multifocal |
|
74.1 |
|
|
12% |
|
15% |
|
15% |
|
Single-use sphere |
|
165.4 |
|
|
3% |
|
8% |
|
8% |
|
Non single-use sphere,
other |
|
143.5 |
|
|
2% |
|
5% |
|
2% |
|
Total |
$ |
589.3 |
|
|
6% |
|
10% |
|
10% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Constant Currency |
|
Organic |
|
|
(In millions) |
|
% chg |
|
% chg |
|
% chg |
|
|
2Q23 |
|
y/y |
|
y/y |
|
y/y |
|
Americas |
$ |
243.3 |
|
|
9% |
|
9% |
|
6% |
|
EMEA |
|
210.0 |
|
|
2% |
|
6% |
|
7% |
|
Asia Pacific |
|
136.0 |
|
|
9% |
|
19% |
|
19% |
|
Total |
$ |
589.3 |
|
|
6% |
|
10% |
|
10% |
|
|
|
|
|
|
|
|
|
|
|
Second Quarter CooperSurgical (CSI)
Revenue
- Revenue of $288.1 million, up 4%
from last year's second quarter, up 6% in constant currency, up 5%
organically.
- Revenue by category:
|
|
|
|
|
|
Constant Currency |
|
Organic |
|
|
(In millions) |
|
% chg |
|
% chg |
|
% chg |
|
|
2Q23 |
|
y/y |
|
y/y |
|
y/y |
|
Office and surgical |
$ |
163.0 |
|
|
1% |
|
1% |
|
1% |
|
Fertility |
|
125.1 |
|
|
9% |
|
12% |
|
11% |
|
Total |
$ |
288.1 |
|
|
4% |
|
6% |
|
5% |
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year 2023 Financial
Guidance
The Company updated its fiscal year 2023 financial guidance.
Details are summarized as follows:
- Fiscal 2023 total
revenue of $3,512 - $3,569 million (organic growth of 7% to 9%)
- CVI revenue of
$2,365 - $2,400 million (organic growth of 8% to 10%)
- CSI revenue of
$1,147 - $1,169 million (organic growth of 5% to 7%)
- Fiscal 2023 non-GAAP
diluted earnings per share of $12.66 - $12.96
Fiscal year 2023 guidance does not include the Cook Medical
Reproductive Health acquisition announced on February 7, 2022.
Non-GAAP diluted earnings per share guidance excludes
amortization and impairment of intangible assets, and other
exceptional or unusual income or gains and charges or expenses
including acquisition and integration costs which we may incur as
part of our continuing operations.
With respect to the Company’s guidance expectations, the Company
has not reconciled non-GAAP diluted earnings per share guidance to
GAAP diluted earnings per share due to the inherent difficulty in
forecasting acquisition-related, integration and restructuring
charges and expenses, which are reconciling items between the
non-GAAP and GAAP measure. Due to the unknown effect, timing and
potential significance of such charges and expenses that impact
GAAP diluted earnings per share, the Company is not able to provide
such guidance.
Reconciliation of Selected GAAP Results to Non-GAAP
Results
To supplement our financial results and guidance presented on a
GAAP basis, we use non-GAAP measures that we believe are helpful in
understanding our results. The non-GAAP measures exclude costs
which we generally would not have otherwise incurred in the periods
presented as a part of our continuing operations. Our non-GAAP
financial results and guidance are not meant to be considered in
isolation or as a substitute for comparable GAAP measures and
should be read only in conjunction with our consolidated financial
statements prepared in accordance with GAAP. Management uses
supplemental non-GAAP financial measures internally to understand,
manage and evaluate our business and make operating decisions.
These non-GAAP measures are among the factors management uses in
planning and forecasting for future periods. We believe it is
useful for investors to understand the effects of these items on
our consolidated operating results. Our non-GAAP financial results
may include the following adjustments, and as appropriate, the
related income tax effects and changes in income attributable to
noncontrolling interests:
- We exclude the effect of
amortization and impairment of intangible assets from our non-GAAP
financial results. Amortization of intangible assets will recur in
future periods; however, the amounts are affected by the timing and
size of our acquisitions. Impairment of intangible assets is a
non-recurring cost.
- We exclude the effect of acquisition
and integration expenses and restructuring expenses from our
non-GAAP financial results. We incurred significant expenses in
connection with our acquisitions and also incurred certain other
operating expenses or income, which we generally would not have
otherwise incurred in the periods presented as a part of our
continuing operations. Such expenses generally diminish over time
with respect to past acquisitions; however, we generally will incur
similar expenses in connection with any future acquisitions.
Acquisition and integration expenses include direct effects of
acquisition accounting, such as inventory fair value step-up and
items such as personnel costs for transitional employees, other
acquired employee related costs, integration related professional
services and other costs. In addition, our acquisition expenses for
the second quarter of 2023 included an accrual for probable payment
of a termination fee in connection with an asset purchase
agreement. Restructuring expenses include items such as employee
severance, product rationalization, facility and other exit
costs.
- We exclude other exceptional or
unusual charges or expenses and gains or income. These can be
variable and difficult to predict, such as COVID related charges,
certain litigation expenses, the gain or loss on deconsolidation of
our subsidiaries, changes in fair value of contingent
considerations and product transition costs, and are not what we
consider as typical of our continuing operations.
- We exclude unrealized and realized
gains and losses on our minority investments as we do not believe
that these components of income or expense have a direct
correlation to our ongoing operations.
- We exclude the effects of non-cash
deferred tax assets related to intra-group transfer of
non-inventory assets.
We also report revenue growth using the non-GAAP financial
measure of constant currency so that revenue results may be
evaluated excluding the effect of foreign currency rate
fluctuations. To present this information, current period revenue
for entities reporting in currencies other than the United States
dollar are converted into United States dollars at the average
foreign exchange rates for the corresponding period in the prior
year. We also report revenue growth using the non-GAAP financial
measure of organic so that revenue results may be evaluated over a
comparable period by excluding the effect of foreign currency
fluctuations, and excluding the impact of any acquisitions,
divestitures, discontinuations that occurred in the comparable
period.
We define the non-GAAP measure of free cash flow as cash
provided by operating activities less capital expenditures. We
believe free cash flow is useful for investors as an additional
measure of liquidity because it represents cash that is available
to grow the business, make strategic acquisitions, repay debt,
buyback common stock or to fund dividend payments. Management uses
free cash flow internally to understand, manage, make operating
decisions and evaluate our business. In addition, we use free cash
flow to help plan and forecast future periods.
We define the non-GAAP measure of net debt as total debt less
cash and cash equivalents. We believe net debt is useful for
investors to be helpful in evaluating our financial leverage.
Management uses net debt as a measure of our financial leverage.
Net debt should not be considered as an alternative to debt
determined in accordance with GAAP and should be reviewed in
conjunction with our consolidated condensed balance sheets.
Investors should consider non-GAAP financial measures in
addition to, and not as replacements for, or superior to, measures
of financial performance prepared in accordance with GAAP.
THE COOPER COMPANIES, INC. AND
SUBSIDIARIESReconciliation of Selected GAAP
Results to Non-GAAP Results(In millions, except
per share amounts)(Unaudited) |
|
|
Three Months Ended April 30, |
|
|
2023 |
|
|
|
2023 |
|
2022 |
|
|
|
2022 |
|
|
GAAP |
|
Adjustment |
|
Non-GAAP |
|
GAAP |
|
Adjustment |
|
Non-GAAP |
Cost of sales |
|
$ |
294.5 |
|
|
$ |
(5.9 |
) |
A |
$ |
288.6 |
|
|
$ |
297.3 |
|
|
$ |
(20.7 |
) |
A |
$ |
276.6 |
|
Operating
expense excluding amortization |
|
$ |
440.1 |
|
|
$ |
(58.8 |
) |
B |
$ |
381.3 |
|
|
$ |
348.7 |
|
|
$ |
1.3 |
|
B |
$ |
350.0 |
|
Amortization of intangibles |
|
$ |
46.5 |
|
|
$ |
(46.5 |
) |
C |
$ |
— |
|
|
$ |
51.1 |
|
|
$ |
(51.1 |
) |
C |
$ |
— |
|
Other
expense (income), net |
|
$ |
4.6 |
|
|
$ |
(1.4 |
) |
D |
$ |
3.2 |
|
|
$ |
(41.8 |
) |
|
$ |
47.5 |
|
D |
$ |
5.7 |
|
Provision
for income taxes |
|
$ |
25.8 |
|
|
$ |
(1.1 |
) |
E |
$ |
24.7 |
|
|
$ |
37.1 |
|
|
$ |
(11.5 |
) |
E |
$ |
25.6 |
|
Diluted
earnings per share |
|
$ |
0.80 |
|
|
$ |
2.28 |
|
|
$ |
3.08 |
|
|
$ |
2.55 |
|
|
$ |
0.69 |
|
|
$ |
3.24 |
|
Weighted average diluted shares used |
|
|
49.8 |
|
|
|
|
|
49.8 |
|
|
|
49.7 |
|
|
|
|
|
49.7 |
|
A |
Fiscal 2023 GAAP cost of sales included $5.9 million of costs
primarily related to exit costs of the contact lens care business
and integration activities, resulting in fiscal 2023 GAAP gross
margin of 66% as compared to fiscal 2023 non-GAAP gross margin of
67%. Fiscal 2022 GAAP cost of sales included $20.7 million of costs
primarily related to exit costs of the contact lens care business,
resulting in fiscal 2022 GAAP gross margin of 64% as compared to
fiscal 2022 non-GAAP gross margin of 67%. |
B |
Fiscal 2023 GAAP operating
expense included $58.8 million of costs, consisting primarily of an
accrual of $45.0 million associated with the probable payment in
August 2023 of a termination fee under an asset purchase agreement
related to Cook Medical’s reproductive health business. Fiscal 2022
GAAP operating expense included a $1.3 million gain consisting of
$15.7 million of net decrease in fair value of contingent
consideration, offset primarily by acquisition and integration
costs. |
C |
Amortization expense was $46.5
million and $51.1 million for the fiscal 2023 and 2022 periods,
respectively. Items A, B, and C resulted in fiscal 2023 GAAP
operating margin of 11% as compared to fiscal 2023 non-GAAP
operating margin of 24%, and fiscal 2022 GAAP operating margin of
16% as compared to fiscal 2022 non-GAAP operating margin of
24%. |
D |
Fiscal 2023 other expense
(income) were primarily related to loss on minority investments.
Fiscal 2022 other expense (income) primarily consists of a gain on
deconsolidation of SightGlass Vision (SGV). |
E |
Adjustments to provision for
income taxes were primarily from the above items and intra-entity
asset transfers. |
THE COOPER COMPANIES, INC. AND
SUBSIDIARIESReconciliation of Selected GAAP
Results to Non-GAAP Results(In millions, except
per share amounts)(Unaudited) |
|
|
Six Months Ended April 30, |
|
|
2023 |
|
|
|
2023 |
|
2022 |
|
|
|
2022 |
|
|
GAAP |
|
Adjustment |
|
Non-GAAP |
|
GAAP |
|
Adjustment |
|
Non-GAAP |
Cost of sales |
|
$ |
594.5 |
|
|
$ |
(11.6 |
) |
A |
$ |
582.9 |
|
|
$ |
566.0 |
|
|
$ |
(28.9 |
) |
A |
$ |
537.1 |
|
Operating
expense excluding amortization |
|
$ |
802.6 |
|
|
$ |
(51.3 |
) |
B |
$ |
751.3 |
|
|
$ |
693.9 |
|
|
$ |
(11.1 |
) |
B |
$ |
682.8 |
|
Amortization of intangibles |
|
$ |
93.0 |
|
|
$ |
(93.0 |
) |
C |
$ |
— |
|
|
$ |
93.4 |
|
|
$ |
(93.4 |
) |
C |
$ |
— |
|
Other
expense (income), net |
|
$ |
5.9 |
|
|
$ |
(3.2 |
) |
D |
$ |
2.7 |
|
|
$ |
(39.4 |
) |
|
$ |
46.2 |
|
D |
$ |
6.8 |
|
Provision
for income taxes |
|
$ |
63.3 |
|
|
$ |
(14.4 |
) |
E |
$ |
48.9 |
|
|
$ |
63.8 |
|
|
$ |
(13.5 |
) |
E |
$ |
50.3 |
|
Diluted
earnings per share |
|
$ |
2.50 |
|
|
$ |
3.49 |
|
|
$ |
5.99 |
|
|
$ |
4.45 |
|
|
$ |
2.03 |
|
|
$ |
6.48 |
|
Weighted average diluted shares used |
|
|
49.7 |
|
|
|
|
|
49.7 |
|
|
|
49.8 |
|
|
|
|
|
49.8 |
|
A |
Fiscal 2023 GAAP cost of sales included $11.6 million of costs
primarily related to exit costs of the contact lens care business
and integration activities, resulting in fiscal 2023 GAAP gross
margin of 66% as compared to fiscal 2023 non-GAAP gross margin of
66%. Fiscal 2022 GAAP cost of sales included $28.9 million of costs
primarily related to exit costs of contact lens care business,
resulting in fiscal 2022 GAAP gross margin of 65% as compared to
fiscal 2022 non-GAAP gross margin of 67%. |
B |
Fiscal 2023 GAAP operating
expense included $51.3 million costs, consisting primarily of an
accrual of $45.0 million associated with the probable payment in
August 2023 of a termination fee under an asset purchase agreement
related to Cook Medical’s reproductive health business. Fiscal 2022
GAAP operating expense included $11.1 million of costs primarily
related to acquisition and integration activities, partially offset
by net decrease in fair value of contingent consideration. |
C |
Amortization expense was $93.0
million and $93.4 million for the fiscal 2023 and 2022,
respectively. Items A, B, and C resulted in fiscal 2023 GAAP
operating margin of 14% as compared to fiscal 2023 non-GAAP
operating margin of 23%, and fiscal 2022 GAAP operating margin of
16% as compared to fiscal 2022 non-GAAP operating margin of
25%. |
D |
Fiscal 2023 other expense
(income) primarily consists of loss on minority investments. Fiscal
2022 other expense (income) primarily consists of a gain on
deconsolidation of SGV. |
E |
Adjustments to provision for
income taxes were primarily from the above items and intra-entity
asset transfers. |
Conference Call and Webcast
The Company will host a conference call today at 5:00 PM ET to
discuss the results and current corporate developments. The dial-in
number for the call is 800-715-9871 and the conference ID is
7116518. A simultaneous audio webcast can be accessed on
CooperCompanies' investor relations website
at investor.coopercos.com and a replay will be available
shortly after the call on the same website.
About CooperCompanies
CooperCompanies ("Cooper") is a global medical
device company publicly traded on the NYSE (NYSE: COO). Cooper
operates through two business units, CooperVision and
CooperSurgical. CooperVision brings a refreshing perspective on
vision care with a commitment to developing a wide range of
high-quality products for contact lens wearers and providing
focused practitioner support. CooperSurgical is committed to
advancing the health of women, babies and families with its
diversified portfolio of products and services focusing on medical
devices and fertility & genomics. Headquartered in San Ramon,
Calif., Cooper has a workforce of more than 15,000 with products
sold in over 130 countries. For more information, please
visit www.coopercos.com.
Forward-Looking Statements
This earnings release contains "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995.
Statements relating to guidance, plans, prospects, goals,
strategies, future actions, events or performance and other
statements of which are other than statements of historical fact,
including our fiscal year 2023 financial guidance, are forward
looking. In addition, all statements regarding anticipated growth
in our revenues, anticipated market conditions, planned product
launches, restructuring or business transition expectations,
regulatory plans, and expected results of operations are
forward-looking. To identify these statements look for words like
"believes," "outlook," "probable," "expects," "may," "will,"
"should," "could," "seeks," "intends," "plans," "estimates" or
"anticipates" and similar words or phrases. Forward-looking
statements necessarily depend on assumptions, data or methods that
may be incorrect or imprecise and are subject to risks and
uncertainties.
Among the factors that could cause our actual results and future
actions to differ materially from those described in
forward-looking statements are: adverse changes in the global or
regional general business, political and economic conditions
including the impact of continuing uncertainty and instability of
certain countries, man-made or natural disasters and pandemic
conditions, that could adversely affect our global markets, and the
potential adverse economic impact and related uncertainty caused by
these items; the impact of Russia's invasion of Ukraine and the
global response to this invasion on the global economy, European
economy, financial markets, energy markets, currency rates and our
ability to supply product to, or through, affected countries;
foreign currency exchange rate and interest rate fluctuations
including the risk of fluctuations in the value of foreign
currencies or interest rates that would decrease our net sales and
earnings; our existing and future variable rate indebtedness and
associated interest expense is impacted by rate increases, which
could adversely affect our financial health or limit our ability to
borrow additional funds; changes in tax laws, examinations by tax
authorities, and changes in our geographic composition of income;
acquisition-related adverse effects; compliance costs and potential
liability in connection with U.S. and foreign laws and health care
regulations pertaining to privacy and security of personal
information; a major disruption in the operations of our
manufacturing, accounting and financial reporting, research and
development, distribution facilities or raw material supply chain;
market consolidation of large customers globally through mergers or
acquisitions resulting in a larger proportion or concentration of
our business being derived from fewer customers; disruptions in
supplies of raw materials, particularly components used to
manufacture our silicone hydrogel lenses; new U.S. and foreign
government laws and regulations, and changes in existing laws,
regulations and enforcement guidance, which affect areas of our
operations including, but not limited to, those affecting the
health care industry, including the contact lens industry
specifically and the medical device or pharmaceutical industries
generally, including but not limited to the EU Medical Devices
Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices
Regulation (IVDR); legal costs, insurance expenses, settlement
costs and the risk of an adverse decision, prohibitive injunction
or settlement related to product liability, patent infringement,
contractual disputes, or other litigation; limitations on sales
following product introductions due to poor market acceptance; new
competitors, product innovations or technologies, including but not
limited to, technological advances by competitors, new products and
patents attained by competitors, and competitors' expansion through
acquisitions; reduced sales, loss of customers and costs and
expenses related to product recalls and warning letters; failure to
receive, or delays in receiving, regulatory approvals or
certifications for products; failure of our customers and end users
to obtain adequate coverage and reimbursement from third-party
payors for our products and services; the requirement to provide
for a significant liability or to write off, or accelerate
depreciation on, a significant asset, including goodwill, other
intangible assets and idle manufacturing facilities and equipment;
the success of our research and development activities and other
start-up projects; dilution to earnings per share from acquisitions
or issuing stock; impact and costs incurred from changes in
accounting standards and policies; risks related to environmental
laws and requirements applicable to our facilities and products,
including evolving regulations regarding the use of hazardous
substances or chemicals in our products; risks related to
environmental, social and corporate governance (ESG) issues,
including those related to climate change and sustainability; and
other events described in our Securities and Exchange Commission
filings, including the “Business”, “Risk Factors” and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections in the Company’s Annual Report on Form 10-K
for the fiscal year ended October 31, 2022, as such Risk
Factors may be updated in annual and quarterly filings.
We caution investors that forward-looking statements reflect our
analysis only on their stated date. We disclaim any intent to
update them except as required by law.
Contact:
Kim DuncanVice President, Investor Relations and Risk
Management925-460-3663ir@cooperco.com
THE COOPER COMPANIES, INC. AND SUBSIDIARIESConsolidated Condensed
Balance Sheets(In millions)(Unaudited) |
|
|
April 30, 2023 |
|
October 31, 2022 |
ASSETS |
Current assets: |
|
|
|
Cash and cash equivalents |
$ |
111.9 |
|
|
$ |
138.2 |
|
Trade receivables, net |
|
564.7 |
|
|
|
557.8 |
|
Inventories |
|
699.0 |
|
|
|
628.7 |
|
Other current assets |
|
223.7 |
|
|
|
208.9 |
|
Total current assets |
|
1,599.3 |
|
|
|
1,533.6 |
|
Property, plant and equipment,
net |
|
1,489.8 |
|
|
|
1,432.9 |
|
Goodwill |
|
3,660.0 |
|
|
|
3,609.7 |
|
Other intangibles, net |
|
1,815.0 |
|
|
|
1,885.1 |
|
Deferred tax assets |
|
2,390.6 |
|
|
|
2,443.1 |
|
Other assets |
|
584.8 |
|
|
|
587.9 |
|
Total assets |
$ |
11,539.5 |
|
|
$ |
11,492.3 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
Current liabilities: |
|
|
|
Short-term debt |
$ |
74.5 |
|
|
$ |
412.6 |
|
Accounts Payable |
|
242.4 |
|
|
|
248.8 |
|
Employee compensation and benefits |
|
131.1 |
|
|
|
152.1 |
|
Deferred revenue |
|
119.7 |
|
|
|
93.6 |
|
Other current liabilities |
|
381.4 |
|
|
|
373.1 |
|
Total current liabilities |
|
949.1 |
|
|
|
1,280.2 |
|
Long-term debt |
|
2,565.7 |
|
|
|
2,350.8 |
|
Deferred tax liabilities |
|
139.0 |
|
|
|
149.9 |
|
Long-term tax payable |
|
90.7 |
|
|
|
113.2 |
|
Deferred revenue |
|
182.6 |
|
|
|
198.3 |
|
Accrued pension liability and
other |
|
234.4 |
|
|
|
225.2 |
|
Total liabilities |
|
4,161.5 |
|
|
|
4,317.6 |
|
Stockholders’ equity |
|
7,378.0 |
|
|
|
7,174.7 |
|
Total liabilities and stockholders' equity |
$ |
11,539.5 |
|
|
$ |
11,492.3 |
|
THE COOPER COMPANIES, INC. AND SUBSIDIARIESConsolidated Statements
of Income(In millions, except per share amounts)(Unaudited) |
|
|
Three Months Ended April 30, |
|
Six Months Ended April 30, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Net sales |
$ |
877.4 |
|
|
$ |
829.8 |
|
|
$ |
1,735.9 |
|
|
$ |
1,616.9 |
|
Cost of sales |
|
294.5 |
|
|
|
297.3 |
|
|
|
594.5 |
|
|
|
566.0 |
|
Gross profit |
|
582.9 |
|
|
|
532.5 |
|
|
|
1,141.4 |
|
|
|
1,050.9 |
|
Selling, general and
administrative expense |
|
407.5 |
|
|
|
322.4 |
|
|
|
738.4 |
|
|
|
641.5 |
|
Research and development
expense |
|
32.6 |
|
|
|
26.3 |
|
|
|
64.2 |
|
|
|
52.4 |
|
Amortization of
intangibles |
|
46.5 |
|
|
|
51.1 |
|
|
|
93.0 |
|
|
|
93.4 |
|
Operating income |
|
96.3 |
|
|
|
132.7 |
|
|
|
245.8 |
|
|
|
263.6 |
|
Interest expense |
|
26.1 |
|
|
|
10.8 |
|
|
|
52.2 |
|
|
|
17.4 |
|
Other expense (income),
net |
|
4.6 |
|
|
|
(41.8 |
) |
|
|
5.9 |
|
|
|
(39.4 |
) |
Income before income
taxes |
|
65.6 |
|
|
|
163.7 |
|
|
|
187.7 |
|
|
|
285.6 |
|
Provision for income
taxes |
|
25.8 |
|
|
|
37.1 |
|
|
|
63.3 |
|
|
|
63.8 |
|
Net income |
$ |
39.8 |
|
|
$ |
126.6 |
|
|
$ |
124.4 |
|
|
$ |
221.8 |
|
|
|
|
|
|
|
|
|
Earnings per share -
diluted |
$ |
0.80 |
|
|
$ |
2.55 |
|
|
$ |
2.5 |
|
|
$ |
4.45 |
|
|
|
|
|
|
|
|
|
Number of shares used to
compute diluted earnings per share |
|
49.8 |
|
|
|
49.7 |
|
|
|
49.7 |
|
|
|
49.8 |
|
Cooper Companies (NYSE:COO)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Cooper Companies (NYSE:COO)
Gráfica de Acción Histórica
De May 2023 a May 2024