Cooper Companies, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Cooper Companies, Inc. filed its Q1 2024 10-Q report on March 1, 2024.</b>

AI Summary

COOPER COMPANIES, INC. (COO) filed a Quarterly Report (10-Q) with the SEC on March 1, 2024. The Cooper Companies, Inc. filed a 10-Q report for the period ending January 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on October 31st. The filing was made on March 1, 2024. The company's principal business is in Ophthalmic Goods (SIC 3851).

Why It Matters

For investors and stakeholders tracking COOPER COMPANIES, INC., this filing contains several important signals. This 10-Q filing provides an update on Cooper Companies' financial performance and operational status for the first quarter of fiscal year 2024. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: low — COOPER COMPANIES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting.

Analyst Insight

Monitor future filings for detailed financial results, segment performance, and any management commentary on strategic initiatives or market conditions.

Key Numbers

• 2024-01-31 — Reporting Period End Date (10-Q filing)
• 2024-03-01 — Filing Date (10-Q filing)
• 2024-02-23 — Date as of Change (10-Q filing)
• 10/31 — Fiscal Year End (Company data)

Key Players & Entities

• COOPER COMPANIES, INC. (company) — Filer name
• 0000711404 (company) — Central Index Key
• 3851 (industry) — Standard Industrial Classification for Ophthalmic Goods

FAQ

Industry Context

Cooper Companies, Inc. operates within the Ophthalmic Goods industry, which involves the manufacturing and distribution of products related to eye care and vision.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Analyze segment performance if provided in the full report.
3. Compare Q1 2024 results with previous periods and analyst expectations.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-01: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the fiscal year-end report for 2023.

Key Financial Figures

• $0.10 — 24, 198,756,284 shares of Common Stock, $0.10 par value, were outstanding. INDEX

Filing Documents

• coo-20240131.htm (10-Q) — 830KB
• coo-ex311_2024x01x31x10q.htm (EX-31.1) — 10KB
• coo-ex312_2024x01x31x10q.htm (EX-31.2) — 10KB
• coo-ex321_2024x01x31x10q.htm (EX-32.1) — 5KB
• coo-ex322_2024x01x31x10q.htm (EX-32.2) — 4KB
• coo-20240131_g1.jpg (GRAPHIC) — 36KB
• coo-20240131_g2.jpg (GRAPHIC) — 25KB
• coo-20240131_g3.jpg (GRAPHIC) — 25KB
• coo-20240131_g4.jpg (GRAPHIC) — 26KB
• coo-20240131_g5.jpg (GRAPHIC) — 26KB
• 0000711404-24-000020.txt (&nbsp;) — 5397KB
• coo-20240131.xsd (EX-101.SCH) — 34KB
• coo-20240131_cal.xml (EX-101.CAL) — 59KB
• coo-20240131_def.xml (EX-101.DEF) — 157KB
• coo-20240131_lab.xml (EX-101.LAB) — 510KB
• coo-20240131_pre.xml (EX-101.PRE) — 335KB
• coo-20240131_htm.xml (XML) — 640KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements Consolidated Condensed Statements of Income and Comprehensive Income 3 Consolidated Condensed Balance Sheets 4 Consolidated Condensed Statements of Stockholders' Equity 5 Consolidated Condensed Statements of Cash Flows 6 Notes to Consolidated Condensed Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 24

Controls and Procedures

Item 4. Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25

Other Information

Item 5. Other Information 25

Exhibits

Item 6. Exhibits 26

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Income and Comprehensive Income Three months ended January 31, (In millions, except for earnings per share) (Unaudited) 2024 2023 Net sales $ 931.6 $ 858.5 Cost of sales 307.8 300.0 Gross profit 623.8 558.5 Selling, general and administrative expense 380.9 330.9 Research and development expense 39.5 31.6 Amortization of intangibles 50.3 46.5 Operating income 153.1 149.5 Interest expense 29.9 26.1 Other expense, net 3.2 1.3 Income before income taxes 120.0 122.1 Provision for income taxes (Note 6) 38.8 37.5 Net income $ 81.2 $ 84.6 Earnings per share (Note 7)*: Basic $ 0.41 $ 0.43 Diluted $ 0.41 $ 0.43 Number of shares used to compute earnings per share*: Basic 198.4 197.5 Diluted 199.9 198.7 Other comprehensive income, net of tax: Cash flow hedges $ ( 28.0 ) $ ( 21.0 ) Foreign currency translation adjustment 59.8 84.0 Comprehensive income $ 113.0 $ 147.6 * All periods presented have been adjusted to reflect the four -for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information. The accompanying notes are an integral part of these Consolidated Condensed Financial Statements. 3 THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets (In millions, unaudited) January 31, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 135.2 $ 120.8 Trade accounts receivable, net of allowance for credit losses of $ 34.7 at January 31, 2024, and $ 31.3 at October 31, 2023 651.0 609.7 Inventories (Note 3) 747.5 735.6 Prepaid expense and other current assets 260.2 238.8 Total current assets 1,793.9 1,704.9 Property, plant and equipment, net 1,682.2 1,632.6 Goodwill 3,773.2 3,624.5 Other intangibles, net (Note 4) 1,848.1 1,710.3 Deferred tax assets 2,318.3 2,349.5 Other assets 616.9 637.1 Total assets $ 12,032.6 $ 11,6

View Full Filing

View this 10-Q filing on SEC EDGAR