NASDAQ$COO

The Cooper Companies Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

CooperCompanies reported an increase in revenue and earnings for the fourth quarter of 2021.

CooperCompanies announced strong Q4 and full-year 2021 results, with Q4 revenue up 11% year-over-year to $759.1 million and GAAP EPS up 35% to $2.21. The company achieved record annual revenue, profits, and cash flow, driven by market share gains in contact lenses and fertility.

  • Fourth quarter revenue increased 11% year-over-year to $759.1 million.
  • Fourth quarter GAAP diluted earnings per share (EPS) $2.21, up 35% from last year's fourth quarter.
  • Fourth quarter Non-GAAP diluted EPS $3.28, up 4% from last year's fourth quarter.
  • Gross margin 66% compared with 62% in last year’s fourth quarter.

Headline financials

Total Revenue

$759M

Previous: $682M+11.4%
EPS (adj)

$0.82

Previous: $0.79+3.8%
GAAP Gross Margin

66.0%

Previous: 62.0%+6.5%
GAAP Operating Margin

17.0%

Previous: 15.0%+13.3%
Capital Expenditures

$65M

Previous: $107M-39.3%
Free Cash Flow

$110M

Previous: $111M-1.6%
Net Income

$110M

Previous: $81.2M+35.8%
Operating Income

$129M

Previous: $100M+28.5%
Gross Profit

$502M

Previous: $424M+18.4%
Cash & Equivalents

$95.9M

Previous: $116M-17.3%
Total Assets

$9.61B

Previous: $6.74B+42.6%
Stock-Based Comp

$43.8M

Previous: $37.6M+16.5%

Revenue & EPS history

Cooper · Revenue · Quarterly

$759M

Q4 2021+11.4%vs Q4 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Cooper · $194M total across 2 segments · Q4 2021

  • Office and Surgical
    $113M+3.3%
  • Fertility
    $81.6M+23.3%

Forward guidance

CooperCompanies provided fiscal year 2022 guidance, with total revenue expected to be between $3,032 and $3,090 million and non-GAAP diluted earnings per share between $13.60 and $14.00. This guidance does not include the Generate Life Sciences acquisition.

Tailwinds

  • Fiscal 2022 total revenue $3,032 - $3,090 million (up 6% to 8% in constant currency)
  • CVI revenue $2,225 - $2,267 million (up 6% to 8% in constant currency)
  • CSI revenue $807 - $823 million (up 6% to 8% in constant currency)
  • Fiscal 2022 non-GAAP diluted earnings per share $13.60 - $14.00 (up 9.5% to 12.5% in constant currency)
  • Company is well positioned to continue executing on our growth strategies across both businesses

Headwinds

  • Our fiscal year 2022 guidance does not include the Generate Life Sciences acquisition announced on November 10th, 2021.
  • Excludes amortization and impairment of intangible assets, and other exceptional or unusual income or gains and charges or expenses including acquisition, integration and manufacturing related costs which we may incur as part of our continuing operations.
  • 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.
  • 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.
  • Resurgences as a significant risk factor to our outlook

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.5%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.1%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+12.1%

Q3 2024

Best reaction

-12.8%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%-8.0%-12.5%
Q4 2025-4.3%+4.8%+5.3%
Q3 2025-12.8%-11.8%-8.9%
Q2 2025+0.0%-0.3%+3.6%
Q1 2025-6.6%-13.1%-18.9%
Q4 2024-6.0%-5.6%-12.6%
Q3 2024+12.1%+12.1%+16.4%
Q2 2024+3.5%+3.8%-4.2%
Q1 2024+8.1%+7.3%+7.4%
Q4 2023-2.2%-0.7%+6.8%
Q3 2023-2.1%-3.5%-15.9%
Q2 2023-4.0%-5.1%+3.2%
Q1 2023+8.7%+3.9%+15.4%
Q4 2022-1.6%+4.8%+9.7%
Q3 2022+4.1%+2.5%-8.5%
Q2 2022-0.3%+1.3%-7.2%
Q1 2022+2.1%-8.5%+3.1%
Q4 2021+4.8%+8.7%+12.2%
Q3 2021+1.1%-0.7%-7.6%
Q2 2021-0.7%-3.2%+6.0%
Q1 2021+1.8%+0.3%+1.1%
Q4 2020+3.3%+3.3%+8.6%
Q3 2020+2.0%+0.3%+5.7%
Q2 2020-0.2%-5.0%-9.1%
Q1 2020-1.3%-0.9%-17.3%
Q4 2019-1.6%-2.4%+3.3%
Q3 2019-3.5%-6.7%-8.3%
Q2 2019+4.5%+9.0%+18.2%
Q1 2019-1.8%+0.1%+1.0%
Q4 2018-11.6%-7.3%-10.4%
Q3 2018-3.7%-3.4%+4.3%
Q2 2018+1.4%-0.4%+6.0%
Q1 2018+2.1%-3.8%-11.5%
Q4 2017-3.2%-1.9%-1.5%
Q3 2017-4.0%-2.5%-3.7%
Q2 2017+8.9%+10.5%+9.4%
Q1 2017-3.1%-3.6%-0.4%
Q4 2016+1.3%+4.1%+5.2%
Q3 2016+0.0%+1.3%-3.6%
Q2 2016-0.1%-0.4%+7.1%
Q1 2016+6.4%
Q4 2015-12.8%
Q3 2015-7.1%
Q2 2015-5.1%
Q1 2015+9.7%
Q4 2014-4.4%
Q3 2014+0.7%
Q2 2014+1.7%
Q1 2014+4.3%
Q4 2013-4.6%
Q3 2013-1.8%
Q2 2013+8.1%
Q1 2013+2.5%
Q4 2012+1.0%
Q3 2012+10.3%
Q2 2012-4.1%
Q1 2012+2.8%
Q4 2008+2.8%
Q4 2011+2.8%
Q3 2011-1.8%
Q2 2011+1.4%
Q2 2010+1.4%
Q1 2010+8.9%
Q1 2011+1.0%
Q4 2010-1.5%
Q3 2010+5.8%
Q3 2009+5.8%
Q4 2009+5.8%

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