Cooper Companies Q3 2024 10-Q Filing
Ticker: COO · Form: 10-Q · Filed: Aug 29, 2024 · CIK: 711404
Sentiment: neutral
Topics: 10-Q, financials, ophthalmic-goods
TL;DR
Cooper Companies 10-Q filed: Q3 2024 results are in. Check financials.
AI Summary
The Cooper Companies, Inc. filed its 10-Q for the period ending July 31, 2024. The company reported financial results for its fiscal third quarter and the nine months ended July 31, 2024. Key financial data and operational updates are detailed within the filing, reflecting the company's performance in its ophthalmic goods sector.
Why It Matters
This filing provides investors with the latest financial performance data for The Cooper Companies, Inc., crucial for understanding its current operational health and future prospects in the ophthalmic goods market.
Risk Assessment
Risk Level: medium — Quarterly reports like this 10-Q can reveal shifts in financial performance, market position, or regulatory challenges that may impact the company's stock price.
Key Numbers
- 20240731 — Fiscal Period End Date (Indicates the end of the reporting quarter and nine-month period.)
- 20240829 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- COOPER COMPANIES, INC. (company) — Filer of the 10-Q
- 20240731 (date) — End of the reporting period
- 20240829 (date) — Filing date of the 10-Q
- 3851 (other) — Standard Industrial Classification for Ophthalmic Goods
FAQ
What were the key financial highlights for The Cooper Companies, Inc. in the fiscal third quarter of 2024?
The filing provides the financial results for the quarter ended July 31, 2024, but specific revenue, net income, or EPS figures are not detailed in the provided header information.
What is the primary business sector for The Cooper Companies, Inc. according to this filing?
The company is classified under Standard Industrial Classification code 3851, which corresponds to Ophthalmic Goods.
When is The Cooper Companies, Inc.'s fiscal year end?
The fiscal year end for The Cooper Companies, Inc. is October 31 (1031).
What is the company's principal business address?
The principal business address is 6101 Bollinger Canyon Road, Suite 500, San Ramon, CA 94583.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending July 31, 2024.
Filing Stats: 4,756 words · 19 min read · ~16 pages · Grade level 7.1 · Accepted 2024-08-29 16:17:41
Key Financial Figures
- $0.10 — ange on which registered Common Stock, $0.10 par value COO Nasdaq Global Select Mar
Filing Documents
- coo-20240731.htm (10-Q) — 1148KB
- coo-ex311_2024x07x31x10q.htm (EX-31.1) — 10KB
- coo-ex312_2024x07x31x10q.htm (EX-31.2) — 10KB
- coo-ex321_2024x07x31x10q.htm (EX-32.1) — 4KB
- coo-ex322_2024x07x31x10q.htm (EX-32.2) — 4KB
- coo-20240731_g1.jpg (GRAPHIC) — 30KB
- coo-20240731_g10.jpg (GRAPHIC) — 26KB
- coo-20240731_g2.jpg (GRAPHIC) — 31KB
- coo-20240731_g3.jpg (GRAPHIC) — 25KB
- coo-20240731_g4.jpg (GRAPHIC) — 25KB
- coo-20240731_g5.jpg (GRAPHIC) — 26KB
- coo-20240731_g6.jpg (GRAPHIC) — 26KB
- coo-20240731_g7.jpg (GRAPHIC) — 25KB
- coo-20240731_g8.jpg (GRAPHIC) — 26KB
- coo-20240731_g9.jpg (GRAPHIC) — 26KB
- 0000711404-24-000062.txt ( ) — 6683KB
- coo-20240731.xsd (EX-101.SCH) — 35KB
- coo-20240731_cal.xml (EX-101.CAL) — 60KB
- coo-20240731_def.xml (EX-101.DEF) — 156KB
- coo-20240731_lab.xml (EX-101.LAB) — 511KB
- coo-20240731_pre.xml (EX-101.PRE) — 352KB
- coo-20240731_htm.xml (XML) — 853KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Unaudited Financial Statements
Item 1. Unaudited Financial Statements Consolidated Condensed Statements of Income and Comprehensive Income 4 Consolidated Condensed Balance Sheets 5 Consolidated Condensed Statements of Stockholders' Equity 6 Consolidated Condensed Statements of Cash Flows 8 Notes to Consolidated Condensed Financial Statements 9
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 17
Quantitative and Qualitative Disclosure About Market Risk
Item 3. Quantitative and Qualitative Disclosure About Market Risk 29
Controls and Procedures
Item 4. Controls and Procedures 29
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 30
Risk Factors
Item 1A. Risk Factors 30
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 30
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 30
Other Information
Item 5. Other Information 30
Exhibits
Item 6. Exhibits 31
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 July 31, (In millions, except for earnings per share) (Unaudited) Three Months Nine Months 2024 2023 2024 2023 Net sales $ 1,002.8 $ 930.2 $ 2,877.0 $ 2,666.1 Cost of sales 339.8 320.2 959.0 914.7 Gross profit 663.0 610.0 1,918.0 1,751.4 Selling, general and administrative expense 381.1 375.2 1,142.3 1,113.6 Research and development expense 39.0 36.5 117.4 100.7 Amortization of intangibles 50.4 46.7 151.0 139.7 Operating income 192.5 151.6 507.3 397.4 Interest expense 28.5 26.8 87.3 79.0 Other expense, net 0.3 6.0 6.3 11.9 Income before income taxes 163.7 118.8 413.7 306.5 Provision for income taxes (Note 6) 59.0 33.5 138.9 96.8 Net income $ 104.7 $ 85.3 $ 274.8 $ 209.7 Earnings per share (Note 7)*: Basic $ 0.53 $ 0.43 $ 1.38 $ 1.06 Diluted $ 0.52 $ 0.43 $ 1.37 $ 1.05 Number of shares used to compute earnings per share*: Basic 199.1 198.1 198.8 197.8 Diluted 200.6 199.6 200.3 199.2 Other comprehensive income, net of tax: Cash flow hedges $ ( 27.2 ) $ 14.6 $ ( 33.8 ) $ ( 11.9 ) Foreign currency translation adjustment 24.7 34.4 62.5 103.9 Comprehensive income $ 102.2 $ 134.3 $ 303.5 $ 301.7 * 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. 4 THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets (In millions, unaudited) July 31, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 109.7 $ 120.8 Trade accounts receivable, net of allowance for credit losses of $ 42.8 at July 31, 2024, and $ 31.3 at October 31, 2023 739.0 609.7 Inventories (Note 3) 779.3 735.6 Prepaid expense and other current