CooperCompanies Announces First Quarter 2026 Results

San Ramon, Calif., CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal first quarter ended January 31, 2026.

•First quarter 2026 revenue of $1.024 billion, up 6%, or up 3% organically, from last year's first quarter.

•First quarter 2026 GAAP diluted earnings per share (EPS) of $0.66, up $0.14 or 27% from last year's first quarter.

•First quarter 2026 Non-GAAP diluted EPS of $1.10, up $0.18 or 20% from last year's first quarter. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below.

"We're pleased to report a strong start to the fiscal year, highlighted by product launches, outstanding profitability, and robust cash flow, all of which gives us the confidence to raise both earnings and free cash flow guidance. Revenue growth benefited from continued strength in our premium MyDay portfolio, and momentum is building from product launches including early traction from MyDay MiSight. Operating margins exceeded expectations, reflecting disciplined execution and the meaningful synergies delivered through last year's reorganization. These improvements are strengthening our foundation--enhancing efficiency, improving our cost structure, and enabling more targeted investment in our highest-return opportunities," said Al White, CooperCompanies' President and CEO.

"Our strong free cash flow also supported ongoing share repurchases, which remain a core element of our capital-allocation strategy. Combined with improved organizational alignment and progress across our key initiatives, we believe we are well positioned to build momentum as the year progresses. Importantly, we remain on track with our long-term outlook for generating more than $2.2 billion in free cash flow from 2026 through 2028, providing meaningful flexibility to invest in growth drivers, continue share repurchases, and reduce debt."

First Quarter Operating Results

•Revenue of $1.024 billion, up 6% from last year's first quarter, up 3% in constant currency, up 3% organically.

•Gross margin of 68% similar to last year's first quarter. On a non-GAAP basis, gross margin was down 60 basis points from last year to 68%. Excluding the impact of tariffs, gross margin would have been flat year over year.

•Operating margin of 21% compared with 19% in last year's first quarter driven by operating expense leverage. On a non-GAAP basis, operating margin was up 180 basis points from last year to 27%, reflecting disciplined execution and meaningful synergies delivered through last year's reorganization, and leverage from last year's IT implementations.

•Interest expense of $22.4 million compared with $26.0 million in last year's first quarter driven by lower average debt.

•Cash provided by operations of $260.9 million, offset by capital expenditures of $102.2 million resulted in free cash flow of $158.7 million.

First Quarter CooperVision (CVI) Revenue

•Revenue of $695.1 million, up 8% from last year's first quarter, up 3% in constant currency, up 3% organically.

First Quarter CooperSurgical (CSI) Revenue

•Revenue of $329.0 million, up 3% from last year's first quarter, up 2% in constant currency, up 2% organically.

Other

•During the first quarter, the Company repurchased $92.5 million of common stock, approximately 1.1 million shares, at an average share price of $82.04. The program has $873.9 million of remaining availability.

Fiscal Year 2026 Financial Guidance

The Company updated its fiscal year 2026 financial guidance. Details are summarized as follows:

•Fiscal 2026 total revenue of $4.306 - $4.346 billion (organic growth of 4.5% to 5.5%)

•CVI revenue of $2.906 - $2.932 billion (organic growth of 4.5% to 5.5%)

•CSI revenue of $1.400 - $1.413 billion (organic growth of 4.0% to 5.0%)

•Fiscal 2026 non-GAAP diluted EPS of $4.58 - $4.66

•Fiscal 2026 free cash flow of $600 - $625 million

Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations.

With respect to the Company's guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measures. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance.

Audio Webcast and Conference Call

The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its first quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, www.investor.coopercos.com, at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, www.investor.coopercos.com. Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 6529381.

About CooperVision

CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on helping people experience life's beautiful moments through its two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, helping to improve the way people see each day. CooperSurgical is a leading fertility and women's healthcare company dedicated to putting time on the side of women, babies, and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies has a workforce of more than 15,000, sells products in over 130 countries, and positively impacts over fifty million lives each year. For more information, please visit www.coopercos.com.

Media contact

Kim Duncan, Vice President, Investor Relations and Risk Management, ir@cooperco.com, 925-460-3663