Medical device maker CooperCompanies (NYSE: COO) has announced financial results for the fourth quarter of 2024, reporting an increase in revenues and adjusted profit.
- Fourth-quarter revenue increased 10% year-over-year to $1.01 billion; CooperVision and CooperSurgical revenues grew 9% and 12%, respectively
- On a reported basis, earnings per share was $0.58 in Q4, up 38% from last year’s fourth quarter
- Adjusted earnings per share moved up 19% annually to $1.04 during the three months
- Net income increased to $117.5 million in the October quarter from $84.5 million a year earlier
- Q4 gross margin advanced to 67% from 65% the year-ago quarter; operating margin rose to 19% from 15%
- Operating cash flow and capital expenditures came in at $268.1 million and $139.9 million, respectively, resulting in free cash flow of $128.2 million
- For fiscal 2024, the company expects total revenue to be $4.08-4.16 billion, and organic growth of 6-8%