CooperCompanies (NASDAQ: COO), a leading global medical device company, announced its financial results for the fiscal fourth quarter and full year ended October 31, 2024.
Key Financial Metrics
| Financial Metric | Q4 2024 | YoY Change | FY 2024 | YoY Change |
|---|---|---|---|---|
| Total Revenue | $1,018.4 million | +10% | $3.9 billion | +8% (Organic 8%) |
| GAAP Diluted EPS | $0.58 | +38% | $1.96 | +33% |
| Non-GAAP Diluted EPS | $1.04 | +19% | $3.69 | +15% |
The financial performance highlights a robust improvement in both quarterly and annual results, with record revenue and growing earnings per share, reflecting CooperCompanies' successful strategic execution and operational efficiencies.
Segment Revenue Performance
| Segment | Q4 2024 Revenue | YoY Change | FY 2024 Revenue | YoY Change |
|---|---|---|---|---|
| CooperVision (CVI) | $676.4 million | +9% | $2,609.4 million | +8% (Organic 9%) |
| CooperSurgical (CSI) | $342.0 million | +12% | $1,286.0 million | +10% (Organic 5%) |
CooperVision continues to be a strong performer with consistent revenue gains, while CooperSurgical showed impressive growth, particularly in the fourth quarter, driven by increased demand and strategic initiatives in the women's health sector.
Key Developments and Operational Highlights
- Achieved record levels in consolidated revenues, CooperVision revenues, CooperSurgical revenues, and non-GAAP EPS.
- Gross margin improved from 65% to 67% year-over-year in Q4.
- Operating margin increased from 15% to 19% year-over-year in Q4.
- Free cash flow for Q4 was $128.2 million.
Executive Comments
Al White, President and CEO, noted, “Fiscal 2024 was a great year for Cooper, achieving record consolidated revenues and non-GAAP EPS. We anticipate continued success in fiscal 2025.”
Forward Guidance
CooperCompanies provided fiscal 2025 guidance, projecting total revenue between $4,080 million and $4,158 million with an expected organic growth of 6% to 8%. Non-GAAP diluted EPS is anticipated to be between $3.92 and $4.02.
Overall, CooperCompanies demonstrated strong financial performance in fiscal 2024, highlighting solid execution across its business units and setting an optimistic outlook for the upcoming fiscal year.
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