Summary by Moomoo AI
Cooper Companies reported robust Q3 2024 results, with revenue increasing 8% year-over-year to $1,002.8 million. CooperVision revenue grew 7% to $675.6 million, while CooperSurgical revenue rose 9% to $327.2 million. GAAP diluted EPS increased 22% to $0.52, and non-GAAP diluted EPS grew 14% to $0.96.The company demonstrated strong operational performance, with non-GAAP gross margin improving to 67% and non-GAAP operating margin expanding to 26%. Free cash flow for the quarter was $118.5 million. Cooper Companies raised its fiscal year 2024 guidance, now projecting total revenue of $3,892 - $3,913 million, representing organic growth of 8% to 8.5%.President and CEO Al White expressed confidence in the company's momentum and future prospects, citing successful execution of their multi-year growth strategy. The raised guidance reflects the strength of Cooper's business model and positions the company for continued success in the medical device market.
