The company said that for the 3 and 9 months ended July 31, 2024, growth across all CooperVision categories was partially offset by unfavorable foreign exchange rate fluctuations of approximately $13.1 million and $19.8 million, respectively.

10-QQuarterly reportFiled Aug 29, 2024Period of report Jul 31, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said that for the 3 and 9 months ended July 31, 2024, growth across all CooperVision categories was partially offset by unfavorable foreign exchange rate fluctuations of approximately $13.1 million and $19.8 million, respectively.
CooperSurgical's office and surgical net sales rose for the 3 months ended July 31, 2024, mainly due to the addition of Cook Medical on November 1, 2023, the company said. It also said fertility net sales increased on higher revenue from consumable products and genetic testing.
The company said its effective tax rate was 36.1% for the 3 months ended 2024 and 28.2% for the same period in 2023, and 33.6% for the 9 months ended 2024 and 31.6% for the same period in 2023. It cited changes in the geographic composition of pre-tax earnings and an increase in the UK statutory tax rate from 19% to 25% as the factors behind the increases.
The company entered into a Revolving Credit Agreement on May 1, 2024, 2024, and drew on it to fully repay outstanding borrowings under the 2020 Term Loan and the 2020 Revolving Credit Facility before terminating the 2020 Credit Agreement. It said it was in compliance with all debt covenants as of July 31, 2024.

Key figures

Quarter ended July 31, 2024

Revenue: $1.0B
Operating income: $193M
Net income: $105M
EPS: $0.52
Gross profit: $663M

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.

CooperVision Net Sales Affected by Foreign Exchange

The company said that for the 3 and 9 months ended July 31, 2024, growth across all CooperVision categories was partially offset by unfavorable foreign exchange rate fluctuations of approximately $13.1 million and $19.8 million, respectively.

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

CooperSurgical Adds Cook Medical

CooperSurgical's office and surgical net sales rose for the 3 months ended July 31, 2024, mainly due to the addition of Cook Medical on November 1, 2023, the company said. It also said fertility net sales increased on higher revenue from consumable products and genetic testing.

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

Effective Tax Rate and UK Statutory Tax Rate

The company said its effective tax rate was 36.1% for the 3 months ended 2024 and 28.2% for the same period in 2023, and 33.6% for the 9 months ended 2024 and 31.6% for the same period in 2023. It cited changes in the geographic composition of pre-tax earnings and an increase in the UK statutory tax rate from 19% to 25% as the factors behind the increases.

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

2024 Credit Agreement and Debt Repayment

The company entered into a Revolving Credit Agreement on May 1, 2024, 2024, and drew on it to fully repay outstanding borrowings under the 2020 Term Loan and the 2020 Revolving Credit Facility before terminating the 2020 Credit Agreement. It said it was in compliance with all debt covenants as of July 31, 2024.

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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