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Cooper Companies (COO) to Post Q1 Earnings: What's in Store?
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The Cooper Companies, Inc.’s (COO - Free Report) first-quarter fiscal 2023 results are scheduled to be released on Mar 2, after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 11.00%. Its earnings missed estimates in three of the trailing four quarters and beat once, the average negative surprise being 2.78%.
Q1 Estimates
For the fiscal first quarter of 2023, the Zacks Consensus Estimate for revenues is pegged at $834.1 million, indicating a 6% increase from the year-ago quarter. The Zacks Consensus Estimate for earnings stands at $2.66 per share, implying a 17.9% decline from the year-ago reported figure.
Factors to Note
Cooper Companies reports revenues under two major segments — CooperVision (CVI) and CooperSurgical (CSI). Both these segments displayed strength in fiscal 2022 and this trend is likely to have continued in the fiscal first quarter of 2023.
Solid performance across the company’s daily silicone hydrogel portfolio and myopia management, and strength in torics and multifocals are likely to have contributed to the CVI segment’s performance in the to-be-reported quarter.
The company’s revenues for fiscal 2023 are projected in the range of $2.325-$2.365 billion (organic growth of 7-9%). This strength is likely to get reflected in the to-be-reported quarter’s results.
CSI displayed strength in the fiscal fourth quarter of 2022, with revenues of $286.3 million. Revenues increased 59% from the year-ago period on a constant currency basis and 58% on a reported basis. The segment benefited from fertility products and surgical products. This momentum is likely to have continued in the fiscal first quarter as well. For fiscal 2023, CSI revenues are expected in the range of $1.13-$1.15 billion (4-6% organic growth). This strength is likely to get reflected in the to-be-reported quarter’s results.
On the fiscal fourth-quarter 2022 earnings call, the company witnessed a 88% increase in revenues with respect to MiSight's 1-day contact lens. The momentum may have sustained in the fiscal first quarter, courtesy of the excellent progress of its key accounts and entry into new pilot programs with retailers and buying groups globally.
Cooper Companies has been witnessing higher contact lens demand, driven by the recent global transition to daily contact lenses by customers. The company has been making advancements in customized product offerings, which are likely to have contributed to its fiscal first-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here, as you will see below.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #2 at present.
Stocks Worth a Look
EDAP TMS (EDAP - Free Report) has an Earnings ESP of +300.00% and a Zacks Rank of 3. EDAP has an estimated revenue growth rate of 14% for 2023.
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Cooper Companies (COO) to Post Q1 Earnings: What's in Store?
The Cooper Companies, Inc.’s (COO - Free Report) first-quarter fiscal 2023 results are scheduled to be released on Mar 2, after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 11.00%. Its earnings missed estimates in three of the trailing four quarters and beat once, the average negative surprise being 2.78%.
Q1 Estimates
For the fiscal first quarter of 2023, the Zacks Consensus Estimate for revenues is pegged at $834.1 million, indicating a 6% increase from the year-ago quarter. The Zacks Consensus Estimate for earnings stands at $2.66 per share, implying a 17.9% decline from the year-ago reported figure.
Factors to Note
Cooper Companies reports revenues under two major segments — CooperVision (CVI) and CooperSurgical (CSI). Both these segments displayed strength in fiscal 2022 and this trend is likely to have continued in the fiscal first quarter of 2023.
Solid performance across the company’s daily silicone hydrogel portfolio and myopia management, and strength in torics and multifocals are likely to have contributed to the CVI segment’s performance in the to-be-reported quarter.
The company’s revenues for fiscal 2023 are projected in the range of $2.325-$2.365 billion (organic growth of 7-9%). This strength is likely to get reflected in the to-be-reported quarter’s results.
The Cooper Companies, Inc. Price and Consensus
The Cooper Companies, Inc. price-consensus-chart | The Cooper Companies, Inc. Quote
CSI displayed strength in the fiscal fourth quarter of 2022, with revenues of $286.3 million. Revenues increased 59% from the year-ago period on a constant currency basis and 58% on a reported basis. The segment benefited from fertility products and surgical products. This momentum is likely to have continued in the fiscal first quarter as well. For fiscal 2023, CSI revenues are expected in the range of $1.13-$1.15 billion (4-6% organic growth). This strength is likely to get reflected in the to-be-reported quarter’s results.
On the fiscal fourth-quarter 2022 earnings call, the company witnessed a 88% increase in revenues with respect to MiSight's 1-day contact lens. The momentum may have sustained in the fiscal first quarter, courtesy of the excellent progress of its key accounts and entry into new pilot programs with retailers and buying groups globally.
Cooper Companies has been witnessing higher contact lens demand, driven by the recent global transition to daily contact lenses by customers. The company has been making advancements in customized product offerings, which are likely to have contributed to its fiscal first-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here, as you will see below.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #2 at present.
Stocks Worth a Look
EDAP TMS (EDAP - Free Report) has an Earnings ESP of +300.00% and a Zacks Rank of 3. EDAP has an estimated revenue growth rate of 14% for 2023.
EDAP TMS’ average earnings surprise in the trailing four quarters was 200.00%. You can see the complete list of today’s Zacks #1 Rank stocks here.
SmileDirectClub has an Earnings ESP of +7.77% and a Zacks Rank #2 at present. SDC has an estimated earnings growth rate of 30.8% for fiscal 2023.
SmileDirectClub’s average negative earnings surprise in the trailing four quarters was 1.08%.
Phreesia (PHR - Free Report) has an Earnings ESP of +2.98% and a Zacks Rank #2 at present. PHR has an estimated long-term growth rate of 20%.
Phreesia’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.80%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.