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COO posted Q2 adjusted EPS of $1.21 ( 26% y/y) and revenues of $1.08B, topping estimates.
CVI revenues of $723.5M were led by MyDay's double-digit growth and MiSight up 24% despite Clariti softness.
CSI revenues of $358M rose on fertility strength and Witness momentum; the FY26 revenue range was lowered.
The Cooper Companies, Inc. (COO - Free Report) posted second-quarter fiscal 2026 adjusted earnings per share (EPS) of $1.21, up 26.0% year over year and beat the Zacks Consensus Estimate of $1.10 by 10.0%. Operational improvements have driven bottom-line growth.
GAAP loss per share for the quarter was 40 cents, significantly down from the year-ago period’s GAAP EPS of 44 cents, affected by a litigation-related charge tied to the resolution of claims associated with a December 2023 voluntary product recall at CooperSurgical.
COO’s Q2 Revenues in Detail
Revenues totaled $1.08 billion, up 8% year over year on a reported basis and up 5% organically. The figure topped the Zacks Consensus Estimate of $1.05 billion by 2.6%.
The quarterly revenues were up 5% year over year at constant exchange rate (CER).
The top-line growth was driven by steady demand across CooperVision and CooperSurgical, alongside new product launches and continued operating discipline.
Shares of COO were up 5.3% in after-hours trading following the earnings call. The company’s shares have lost 24.3% in the year-to-date period compared with the industry’s 10.4% decline. However, the S&P 500 Index was up 10.3% during the same period.
Image Source: Zacks Investment Research
COO’s Revenue Base Expands Across Both Segments
COO conducts its business via two reportable segments — CooperVision (“CVI”) and CooperSurgical (“CSI”). COO delivered record quarterly revenues as both operating segments contributed to growth.
For the second quarter of fiscal 2026, the CVI segment’s revenues totaled $723.5 million, up 8% year over year on a reported basis and 4% at CER as well as organically. This figure compares to our segmental projection of $711 million.
Growth was supported by strong sales of MyDay and MiSight, combined with rising sales of Biofinity, torics and multifocals. MyDay lenses continued its double-digit growth rate. Biofinity grew 5% organically, while MiSight delivered strong growth of 24%. However, softness in Clariti lens sales continued in the fiscal second quarter as the global contact lens market continues to trend toward premium offerings, which included MyDay offerings.
Category-wise, CVI derives revenues from Toric and multifocal, Sphere and others.
In the fiscal second quarter, Toric and multifocal revenues totaled $364.9 million, up 11% year over year on a reported basis, and up 7% organically as well as at CER. This figure compares to our projection of $355 million.
Sphere and other revenues totaled $358.6 million, up 5% year over year on a reported basis and up 1% at CER as well as organically. This figure compares to our projection of $354 million.
The CSI segment’s revenues totaled $358 million, which moved up 8% on a reported basis and 6% at CER and organically. This figure compares to our projection of $344 million.
Growth was driven by strength across the global fertility portfolio, including strong demand for capital equipment in the United States and continued momentum from Witness, the company's automated lab tracking system. Additional support came from distributor restocking activity in the Middle East following the reopening of airspace.
Category-wise, CSI derives revenues from Office and surgical, and Fertility.
In the fiscal second quarter, Office and Surgical revenues totaled $214.2 million, up 4% on a reported and organic basis as well as at CER. This figure compares to our projection of $209 million. PARAGARD delivered flat revenues year over year. Medical devices grew 6%, led by the strong performance of the surgical OB/GYN portfolio and continued momentum in specialty surgical products.
Fertility revenues in the fiscal second quarter amounted to $143.8 million, up 13% on a reported basis and up 10% organically and at CER year over year, supported by improving cycles and increasing investments in technology and workflow optimization by fertility clinics. This figure compares to our projection of $134 million.
COO’s Growth Led by Americas and EMEA
Geographically, CVI derives revenues from the Americas, Europe and the Asia Pacific. However, performance was anchored by continued momentum in the Americas and EMEA.
Americas’ revenues totaled $303.2 million, up 7% year over year on a reported basis and 7% at CER and organically. The growth was driven by continued strength in premium lenses. The figure compares to our projection of $302 million.
EMEA revenues amounted to $289.7 million, up 17% year over year on a reported basis and up 6% at CER and organically. Fueled by strong demand for MyDay and MiSight, the company continued to be the leader in the region for both revenue and wearers. This figure compares to our projection of $275 million.
Asia Pacific revenues in the fiscal second quarter totaled $130.6 million, down 6% year over year, as well as organically and at CER. Portfolio repositioning, including the rationalization of legacy hydrogel products and weaker-than-expected demand in Japan, more than offset contributions from new launches. This figure compares to our projection of $131 million.
COO’s Margin Trend Shows Operating Leverage
In the quarter under review, Cooper Companies’ adjusted gross profit rose 7.9% to $736.1 million. However, the adjusted gross margin was 68.1%, roughly flat year-over-year as positive currency offset higher costs, including tariffs. We had projected a 66.7% gross margin for the fiscal second quarter.
Selling, general and administrative expenses rose 69.5% to $676.2 million. Research and development expenses decreased 6.6% to $42.5 million. Adjusted operating costs totaled $438.9 million, reflecting a 1.5% increase from the prior-year quarter’s level.
Adjusted operating profit totaled $297.2 million, reflecting a 19.1% increase from the year-earlier quarter’s level. The adjusted operating margin in the fiscal second quarter expanded 260 bps to 27.5%, supported by efficiencies from last year’s reorganization and tight operating expense growth.
Cooper Companies’ Financial Position
COO exited the second quarter of fiscal 2026 with cash and cash equivalents of $138.8 million compared with $124.9 million at the end of the first quarter of fiscal 2026.
Total debt at the end of the fiscal second quarter was $2.46 billion compared with $2.5 billion at the end of the first quarter of fiscal 2026.
COO’s Updated Guidance for FY26
Cooper Companies has updated its outlook for fiscal 2026.
The company now expects revenues in the range of $4,285-$4,321 million (down from prior guidance of $4,306-$4,346 million), suggesting an organic improvement of 3.5-4.5% from the prior-year figure. The Zacks Consensus Estimate is pegged at $4.32 billion.
COO expects the CVI segment’s revenues in the range of $2,883-$2,908 million (down from prior guidance of $2,906-$2,932 million), suggesting an organic improvement of 3.5-4.5% from the year-earlier registered figure.
The company anticipates the CSI segment’s revenues in the band of $1,402-$1,414 million (up from prior guidance of $1,400-$1,413 million), indicating an organic improvement of 4-5% from the year-earlier figure.
For the entire fiscal year, adjusted EPS is expected in the $4.58-$4.66 range. The Zacks Consensus Estimate is pegged at $4.62.
The Cooper Companies, Inc. Price, Consensus and EPS Surprise
Cooper Companies delivered strong results in the second quarter of fiscal 2026, marking its tenth consecutive earnings beat. Performance was driven by both businesses, as CooperVision benefited from continued demand for premium daily silicone hydrogel lenses, particularly MyDay, while MiSight revenues surged 24% amid strong adoption in Japan and Europe. CooperSurgical also posted solid results, led by growth in fertility, supported by strength in capital equipment, genomics and consumables. The company further expanded operating margins through ongoing efficiency initiatives and back-office consolidation, while generating robust free cash flow.
Looking ahead, CooperVision is expected to benefit from continued adoption of premium lenses, expansion of MiSight, new product launches and improved execution across Asia Pacific. The company is advancing its Clariti portfolio, with upcoming launches of next-generation multifocal in EMEA and Asia Pacific and the toric and multifocal launch in Japan.
CooperSurgical remains well positioned to capitalize on healthy fertility trends, growing IVF access and increasing investments by clinics in technology and workflow optimization. Management also highlighted significant interest in CooperSurgical as part of its strategic review, which could unlock additional shareholder value.
However, weak consumer demand in Japan and China, combined with the ongoing rationalization of legacy hydrogel products, is expected to pressure Asia Pacific results through the remainder of fiscal 2026. Tariffs, foreign exchange headwinds and higher operating costs could also weigh on margins. Despite these challenges, management maintained its earnings outlook and raised free cash flow expectations.
COO’s Zacks Rank & Key Picks
COO currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) , Globus Medical (GMED - Free Report) and Intuitive Surgical (ISRG - Free Report) .
West Pharmaceutical, sporting a Zacks Rank #1 (Strong Buy) at present, reported first-quarter 2026 earnings per share (EPS) of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
West Pharmaceutical has an estimated long-term earnings growth rate of 13.9%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.4%.
Globus Medical, currently sporting a Zacks Rank #1, reported first-quarter 2026 adjusted EPS of $1.12, which surpassed the Zacks Consensus Estimate by 22.1%. Revenues of $759.9 million beat the Zacks Consensus Estimate by 4.0%.
Globus Medical has an estimated long-term earnings growth rate of 10.2%. GMED’s earnings beat estimates in each of the trailing four quarters, the average surprise being 26.3%.
Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.
Intuitive Surgical has a long-term estimated growth rate of 14.6%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.
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COO Stock Rises on Q2 Earnings Beat, FY26 Revenue Guidance Trimmed
Key Takeaways
The Cooper Companies, Inc. (COO - Free Report) posted second-quarter fiscal 2026 adjusted earnings per share (EPS) of $1.21, up 26.0% year over year and beat the Zacks Consensus Estimate of $1.10 by 10.0%. Operational improvements have driven bottom-line growth.
GAAP loss per share for the quarter was 40 cents, significantly down from the year-ago period’s GAAP EPS of 44 cents, affected by a litigation-related charge tied to the resolution of claims associated with a December 2023 voluntary product recall at CooperSurgical.
COO’s Q2 Revenues in Detail
Revenues totaled $1.08 billion, up 8% year over year on a reported basis and up 5% organically. The figure topped the Zacks Consensus Estimate of $1.05 billion by 2.6%.
The quarterly revenues were up 5% year over year at constant exchange rate (CER).
The top-line growth was driven by steady demand across CooperVision and CooperSurgical, alongside new product launches and continued operating discipline.
Shares of COO were up 5.3% in after-hours trading following the earnings call. The company’s shares have lost 24.3% in the year-to-date period compared with the industry’s 10.4% decline. However, the S&P 500 Index was up 10.3% during the same period.
Image Source: Zacks Investment Research
COO’s Revenue Base Expands Across Both Segments
COO conducts its business via two reportable segments — CooperVision (“CVI”) and CooperSurgical (“CSI”). COO delivered record quarterly revenues as both operating segments contributed to growth.
For the second quarter of fiscal 2026, the CVI segment’s revenues totaled $723.5 million, up 8% year over year on a reported basis and 4% at CER as well as organically. This figure compares to our segmental projection of $711 million.
Growth was supported by strong sales of MyDay and MiSight, combined with rising sales of Biofinity, torics and multifocals. MyDay lenses continued its double-digit growth rate. Biofinity grew 5% organically, while MiSight delivered strong growth of 24%. However, softness in Clariti lens sales continued in the fiscal second quarter as the global contact lens market continues to trend toward premium offerings, which included MyDay offerings.
Category-wise, CVI derives revenues from Toric and multifocal, Sphere and others.
In the fiscal second quarter, Toric and multifocal revenues totaled $364.9 million, up 11% year over year on a reported basis, and up 7% organically as well as at CER. This figure compares to our projection of $355 million.
Sphere and other revenues totaled $358.6 million, up 5% year over year on a reported basis and up 1% at CER as well as organically. This figure compares to our projection of $354 million.
The CSI segment’s revenues totaled $358 million, which moved up 8% on a reported basis and 6% at CER and organically. This figure compares to our projection of $344 million.
Growth was driven by strength across the global fertility portfolio, including strong demand for capital equipment in the United States and continued momentum from Witness, the company's automated lab tracking system. Additional support came from distributor restocking activity in the Middle East following the reopening of airspace.
Category-wise, CSI derives revenues from Office and surgical, and Fertility.
In the fiscal second quarter, Office and Surgical revenues totaled $214.2 million, up 4% on a reported and organic basis as well as at CER. This figure compares to our projection of $209 million. PARAGARD delivered flat revenues year over year. Medical devices grew 6%, led by the strong performance of the surgical OB/GYN portfolio and continued momentum in specialty surgical products.
Fertility revenues in the fiscal second quarter amounted to $143.8 million, up 13% on a reported basis and up 10% organically and at CER year over year, supported by improving cycles and increasing investments in technology and workflow optimization by fertility clinics. This figure compares to our projection of $134 million.
COO’s Growth Led by Americas and EMEA
Geographically, CVI derives revenues from the Americas, Europe and the Asia Pacific. However, performance was anchored by continued momentum in the Americas and EMEA.
Americas’ revenues totaled $303.2 million, up 7% year over year on a reported basis and 7% at CER and organically. The growth was driven by continued strength in premium lenses. The figure compares to our projection of $302 million.
EMEA revenues amounted to $289.7 million, up 17% year over year on a reported basis and up 6% at CER and organically. Fueled by strong demand for MyDay and MiSight, the company continued to be the leader in the region for both revenue and wearers. This figure compares to our projection of $275 million.
Asia Pacific revenues in the fiscal second quarter totaled $130.6 million, down 6% year over year, as well as organically and at CER. Portfolio repositioning, including the rationalization of legacy hydrogel products and weaker-than-expected demand in Japan, more than offset contributions from new launches. This figure compares to our projection of $131 million.
COO’s Margin Trend Shows Operating Leverage
In the quarter under review, Cooper Companies’ adjusted gross profit rose 7.9% to $736.1 million. However, the adjusted gross margin was 68.1%, roughly flat year-over-year as positive currency offset higher costs, including tariffs. We had projected a 66.7% gross margin for the fiscal second quarter.
Selling, general and administrative expenses rose 69.5% to $676.2 million. Research and development expenses decreased 6.6% to $42.5 million. Adjusted operating costs totaled $438.9 million, reflecting a 1.5% increase from the prior-year quarter’s level.
Adjusted operating profit totaled $297.2 million, reflecting a 19.1% increase from the year-earlier quarter’s level. The adjusted operating margin in the fiscal second quarter expanded 260 bps to 27.5%, supported by efficiencies from last year’s reorganization and tight operating expense growth.
Cooper Companies’ Financial Position
COO exited the second quarter of fiscal 2026 with cash and cash equivalents of $138.8 million compared with $124.9 million at the end of the first quarter of fiscal 2026.
Total debt at the end of the fiscal second quarter was $2.46 billion compared with $2.5 billion at the end of the first quarter of fiscal 2026.
COO’s Updated Guidance for FY26
Cooper Companies has updated its outlook for fiscal 2026.
The company now expects revenues in the range of $4,285-$4,321 million (down from prior guidance of $4,306-$4,346 million), suggesting an organic improvement of 3.5-4.5% from the prior-year figure. The Zacks Consensus Estimate is pegged at $4.32 billion.
COO expects the CVI segment’s revenues in the range of $2,883-$2,908 million (down from prior guidance of $2,906-$2,932 million), suggesting an organic improvement of 3.5-4.5% from the year-earlier registered figure.
The company anticipates the CSI segment’s revenues in the band of $1,402-$1,414 million (up from prior guidance of $1,400-$1,413 million), indicating an organic improvement of 4-5% from the year-earlier figure.
For the entire fiscal year, adjusted EPS is expected in the $4.58-$4.66 range. The Zacks Consensus Estimate is pegged at $4.62.
The Cooper Companies, Inc. Price, Consensus and EPS Surprise
The Cooper Companies, Inc. price-consensus-eps-surprise-chart | The Cooper Companies, Inc. Quote
Our Take on COO’s Q2 Results
Cooper Companies delivered strong results in the second quarter of fiscal 2026, marking its tenth consecutive earnings beat. Performance was driven by both businesses, as CooperVision benefited from continued demand for premium daily silicone hydrogel lenses, particularly MyDay, while MiSight revenues surged 24% amid strong adoption in Japan and Europe. CooperSurgical also posted solid results, led by growth in fertility, supported by strength in capital equipment, genomics and consumables. The company further expanded operating margins through ongoing efficiency initiatives and back-office consolidation, while generating robust free cash flow.
Looking ahead, CooperVision is expected to benefit from continued adoption of premium lenses, expansion of MiSight, new product launches and improved execution across Asia Pacific. The company is advancing its Clariti portfolio, with upcoming launches of next-generation multifocal in EMEA and Asia Pacific and the toric and multifocal launch in Japan.
CooperSurgical remains well positioned to capitalize on healthy fertility trends, growing IVF access and increasing investments by clinics in technology and workflow optimization. Management also highlighted significant interest in CooperSurgical as part of its strategic review, which could unlock additional shareholder value.
However, weak consumer demand in Japan and China, combined with the ongoing rationalization of legacy hydrogel products, is expected to pressure Asia Pacific results through the remainder of fiscal 2026. Tariffs, foreign exchange headwinds and higher operating costs could also weigh on margins. Despite these challenges, management maintained its earnings outlook and raised free cash flow expectations.
COO’s Zacks Rank & Key Picks
COO currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) , Globus Medical (GMED - Free Report) and Intuitive Surgical (ISRG - Free Report) .
West Pharmaceutical, sporting a Zacks Rank #1 (Strong Buy) at present, reported first-quarter 2026 earnings per share (EPS) of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
West Pharmaceutical has an estimated long-term earnings growth rate of 13.9%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.4%.
Globus Medical, currently sporting a Zacks Rank #1, reported first-quarter 2026 adjusted EPS of $1.12, which surpassed the Zacks Consensus Estimate by 22.1%. Revenues of $759.9 million beat the Zacks Consensus Estimate by 4.0%.
Globus Medical has an estimated long-term earnings growth rate of 10.2%. GMED’s earnings beat estimates in each of the trailing four quarters, the average surprise being 26.3%.
Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.
Intuitive Surgical has a long-term estimated growth rate of 14.6%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.