Cooper Companies Q2 2024 10-Q Filing
Ticker: COO · Form: 10-Q · Filed: May 31, 2024 · CIK: 711404
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Cooper Companies filed its Q2 2024 10-Q. Financials are in.
AI Summary
The Cooper Companies, Inc. filed its 10-Q for the period ending April 30, 2024. The company reported financial results for the second quarter of fiscal year 2024, which ended on April 30, 2024. Key financial data and operational details for this period are presented in the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for The Cooper Companies, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant risks or opportunities.
Key Players & Entities
- COOPER COMPANIES, INC. (company) — Filer
- 20240430 (date) — Reporting Period End Date
- 20240531 (date) — Filing Date
- SAN RAMON, CA (location) — Business Address
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended April 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on May 31, 2024.
What is the fiscal year end for The Cooper Companies, Inc.?
The fiscal year end for The Cooper Companies, Inc. is October 31.
What is the Standard Industrial Classification (SIC) code for The Cooper Companies, Inc.?
The SIC code for The Cooper Companies, Inc. is 3851, which corresponds to Ophthalmic Goods.
What is the company's business address?
The company's business address is 6101 Bollinger Canyon Road, Suite 500, San Ramon, CA 94583.
Filing Stats: 4,746 words · 19 min read · ~16 pages · Grade level 6.8 · Accepted 2024-05-31 16:18:52
Key Financial Figures
- $0.10 — ange on which registered Common Stock, $0.10 par value COO Nasdaq Global Select Mar
Filing Documents
- coo-20240430.htm (10-Q) — 1083KB
- coo-ex101_2024x04x30x10q.htm (EX-10.1) — 95KB
- coo-ex102_2024x04x30x10q.htm (EX-10.2) — 95KB
- coo-ex103_2024x04x30x10q.htm (EX-10.3) — 94KB
- coo-ex311_2024x04x30x10q.htm (EX-31.1) — 10KB
- coo-ex312_2024x04x30x10q.htm (EX-31.2) — 10KB
- coo-ex321_2024x04x30x10q.htm (EX-32.1) — 4KB
- coo-ex322_2024x04x30x10q.htm (EX-32.2) — 4KB
- coo-20240430_g1.jpg (GRAPHIC) — 33KB
- coo-20240430_g10.jpg (GRAPHIC) — 27KB
- coo-20240430_g2.jpg (GRAPHIC) — 33KB
- coo-20240430_g3.jpg (GRAPHIC) — 25KB
- coo-20240430_g4.jpg (GRAPHIC) — 25KB
- coo-20240430_g5.jpg (GRAPHIC) — 26KB
- coo-20240430_g6.jpg (GRAPHIC) — 26KB
- coo-20240430_g7.jpg (GRAPHIC) — 26KB
- coo-20240430_g8.jpg (GRAPHIC) — 26KB
- coo-20240430_g9.jpg (GRAPHIC) — 26KB
- 0000711404-24-000043.txt ( ) — 6749KB
- coo-20240430.xsd (EX-101.SCH) — 34KB
- coo-20240430_cal.xml (EX-101.CAL) — 60KB
- coo-20240430_def.xml (EX-101.DEF) — 138KB
- coo-20240430_lab.xml (EX-101.LAB) — 483KB
- coo-20240430_pre.xml (EX-101.PRE) — 336KB
- coo-20240430_htm.xml (XML) — 803KB
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 7 Notes to Consolidated Condensed Financial Statements 8
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 15
Quantitative and Qualitative Disclosure About Market Risk
Item 3. Quantitative and Qualitative Disclosure About Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 27
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 28
Risk Factors
Item 1A. Risk Factors 28
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 28
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 28
Other Information
Item 5. Other Information 28
Exhibits
Item 6. Exhibits 29
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 Periods Ended April 30, (In millions, except for earnings per share) (Unaudited) Three Months Six Months 2024 2023 2024 2023 Net sales $ 942.6 $ 877.4 $ 1,874.2 $ 1,735.9 Cost of sales 311.4 294.5 619.2 594.5 Gross profit 631.2 582.9 1,255.0 1,141.4 Selling, general and administrative expense 380.3 407.5 761.2 738.4 Research and development expense 38.9 32.6 78.4 64.2 Amortization of intangibles 50.3 46.5 100.6 93.0 Operating income 161.7 96.3 314.8 245.8 Interest expense 28.9 26.1 58.8 52.2 Other expense, net 2.8 4.6 6.0 5.9 Income before income taxes 130.0 65.6 250.0 187.7 Provision for income taxes (Note 6) 41.1 25.8 79.9 63.3 Net income $ 88.9 $ 39.8 $ 170.1 $ 124.4 Earnings per share (Note 7)*: Basic $ 0.45 $ 0.20 $ 0.86 $ 0.63 Diluted $ 0.44 $ 0.20 $ 0.85 $ 0.63 Number of shares used to compute earnings per share*: Basic 198.9 197.9 198.6 197.7 Diluted 200.5 199.2 200.2 198.9 Other comprehensive income, net of tax: Cash flow hedges $ 21.4 $ ( 5.5 ) $ ( 6.6 ) $ ( 26.5 ) Foreign currency translation adjustment ( 22.0 ) ( 14.5 ) 37.8 69.5 Comprehensive income $ 88.3 $ 19.8 $ 201.3 $ 167.4 * 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) April 30, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 112.4 $ 120.8 Trade accounts receivable, net of allowance for credit losses of $ 39.9 at April 30, 2024, and $ 31.3 at October 31, 2023 688.7 609.7 Inventories (Note 3) 775.4 735.6 Prepaid expense and other current assets 28