AP NEWS
Click to copy
Click to copy

Cooper Cos.: Fiscal 3Q Earnings Snapshot

August 29, 2019

PLEASANTON, Calif. (AP) _ The Cooper Cos. (COO) on Thursday reported fiscal third-quarter earnings of $120.1 million.

The Pleasanton, California-based company said it had net income of $2.40 per share. Earnings, adjusted for one-time gains and costs, came to $3.23 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.16 per share.

The surgical and contact lens products maker posted revenue of $679.4 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $686.9 million.

For the current quarter ending in October, Cooper Cos. expects its per-share earnings to range from $3.22 to $3.30. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.29.

The company said it expects revenue in the range of $674 million to $694 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $684.4 million.

Cooper Cos. expects full-year earnings in the range of $12.27 to $12.35 per share, with revenue ranging from $2.64 billion to $2.66 billion.

Cooper Cos. shares have risen 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $328.76, a rise of 24% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COO at https://www.zacks.com/ap/COO

All contents © copyright 2019 The Associated Press. All rights reserved.