The Cooper Companies Reports 3.3% Net Sales Increase to $964.7 Million in Q1 Fiscal 2025

The Cooper Companies, Inc. reported a net sales increase of 3.3% for the first quarter of fiscal 2025, reaching $964.7 million compared to $931.6 million in the same period last year. The company's gross profit also rose to $660.2 million, up from $623.8 million, resulting in a gross margin of 68%, an improvement from 67% in the prior year. Net income for the quarter was $104.3 million, or $0.52 per diluted share, compared to $81.2 million, or $0.41 per diluted share, in the previous year. This performance reflects a significant increase in operating income, which rose to $182.0 million from $153.1 million, driven by higher sales and improved efficiency.

In terms of operational changes, Cooper Companies made strategic acquisitions to bolster its product offerings. Notably, on August 1, 2024, CooperSurgical acquired obp Surgical for $100 million, enhancing its portfolio in the surgical device market. Additionally, the company completed the acquisition of Cook Medical assets for $300 million, focusing on obstetrics and gynecology. These acquisitions are expected to contribute to future revenue growth and market share expansion. The company also reported an increase in research and development expenses, which rose to $40.7 million, reflecting ongoing investments in product innovation.

The company’s customer base and engagement metrics showed positive trends, with CooperVision's sales growth attributed to strong demand for its silicone hydrogel contact lenses, particularly the Biofinity and MyDay brands. The company continues to expand its geographic footprint, with sales growth across the Americas, EMEA, and Asia Pacific regions, although foreign exchange fluctuations negatively impacted revenue by approximately $14.7 million. CooperSurgical also reported increased sales in its fertility segment, driven by higher revenue from gamete services and genetic testing.

Cooper Companies' balance sheet as of January 31, 2025, showed total assets of $12.2 billion, a slight decrease from $12.3 billion at the end of the previous fiscal year. The company maintained a strong liquidity position, with cash and cash equivalents totaling $100.9 million. The company’s total debt was reported at $2.5 billion, with compliance to all debt covenants. Looking ahead, Cooper Companies expressed optimism about long-term growth prospects in the contact lens and healthcare markets, despite facing risks related to global economic conditions, regulatory changes, and supply chain disruptions. The company plans to leverage its recent acquisitions and product innovations to drive future growth.