The company said gross margin on a consolidated basis rose to 67% in the 3-month and 6-month periods ended April 30, 2024, from 66% a year earlier. It cited efficiency gains and price as the main factors.

10-QQuarterly reportFiled May 31, 2024Period of report Apr 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said gross margin on a consolidated basis rose to 67% in the 3-month and 6-month periods ended April 30, 2024, from 66% a year earlier. It cited efficiency gains and price as the main factors.
CooperSurgical's office and surgical sales rose in the 3 months ended April 30, 2024, the company said, citing the addition of Cook Medical on November 1, 2023 and higher revenue from Paragard. Fertility sales were roughly flat compared with the same period a year earlier, it said.
The company said its effective tax rate was 31.6% for the 3-month period ended April 30, 2024 (39.3% a year earlier) and 32.0% for the 6-month period (33.7% a year earlier). It cited changes in the geographic mix of pre-tax earnings as the main reason for the decline, partly offset by the increase in the UK statutory tax rate from 19% to 25%.
The company said it paid $200.0 million in cash for the Cook Medical acquisition in the first half of fiscal 2024. It said it drew $200.0 million under the revolving credit facility in fiscal 2020 to fund the purchase. It also said it drew on the 2024 Credit Agreement on May 1, 2024 to fully repay its outstanding borrowings.

Key figures

Quarter ended April 30, 2024

Revenue: $943M
Operating income: $162M
Net income: $89M
EPS: $0.44
Gross profit: $631M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Consolidated gross margin 67%

The company said gross margin on a consolidated basis rose to 67% in the 3-month and 6-month periods ended April 30, 2024, from 66% a year earlier. It cited efficiency gains and price as the main factors.

Source · Based on the MD&A text of the filing

CooperSurgical Sales and Cook Medical

CooperSurgical's office and surgical sales rose in the 3 months ended April 30, 2024, the company said, citing the addition of Cook Medical on November 1, 2023 and higher revenue from Paragard. Fertility sales were roughly flat compared with the same period a year earlier, it said.

Source · Based on the MD&A text of the filing

Effective Tax Rate Declines

The company said its effective tax rate was 31.6% for the 3-month period ended April 30, 2024 (39.3% a year earlier) and 32.0% for the 6-month period (33.7% a year earlier). It cited changes in the geographic mix of pre-tax earnings as the main reason for the decline, partly offset by the increase in the UK statutory tax rate from 19% to 25%.

Source · Based on the MD&A text of the filing

Cook Medical Acquisition Funding and New Credit Agreement

The company said it paid $200.0 million in cash for the Cook Medical acquisition in the first half of fiscal 2024. It said it drew $200.0 million under the revolving credit facility in fiscal 2020 to fund the purchase. It also said it drew on the 2024 Credit Agreement on May 1, 2024 to fully repay its outstanding borrowings.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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