Categories Earnings, Health Care

Earnings Summary: Highlights of CooperCompanies’ (COO) Q4 2023 financial results

Medical device maker CooperCompanies (NYSE: COO) announced financial results for the fourth quarter of 2023, reporting an increase in revenues and adjusted profit.

  • Fourth quarter revenue came in at $927.1 million, which is up 9% year-over-year. Revenue grew 9% organically
  • Q4 net income increased to $84.5 million from $65.6 million in the corresponding period of 2022
  • Earnings, on a per-share basis, was $1.70 in the October quarter, higher by 29% compared to last year
  • Adjusted earnings per share, excluding special items, increased 26% annually to $3.47 in Q4
  • Adjusted gross margin rose to 67% from 65% last year driven by better operational performance at both CooperVision and CooperSurgical, and favorable currency
  • The company ended the quarter with an operating cash flow of 174.2 million; offset by capital expenditures of $145.0 million, the free cash flow was $29.2 million

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