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The Cooper Companies Reports Q3 2026 Results, Completes Strategic Review & Expands Buyback Program to $3B
COOPER COMPANIES, INC.
$COO8-KCIK: 0000711404
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Filing Summary
The Cooper Companies, Inc. (NYSE: COO) - Form 8-K Summary
Key Highlights:
- Q3 2026 Financial Results: Revenue rose 1% YoY to $1.066B; GAAP diluted EPS surged to $2.24 (vs. $0.49 prior year) aided by a $307.2M discrete tax benefit from HMRC settlement; Non-GAAP diluted EPS rose 4% to $1.15.
- Free Cash Flow: Increased 66% YoY to $273.0M.
- Capital Allocation & Strategic Review: Concluded strategic review process; Board authorized an increase in the share repurchase authorization from $2.0B to $3.0B (~$1.5B remaining after repurchasing $339.1M / 4.9M shares in Q3).
- FY 2026 Guidance: Total revenue guided between $4.229B and $4.252B (2%–3% organic growth); Non-GAAP diluted EPS expected at $4.51–$4.55.
Comprehensive Analysis
Executive Overview
On September 9, 2026, The Cooper Companies, Inc. (Nasdaq: COO) filed a Form 8-K furnishing information under Item 2.02 (Results of Operations and Financial Condition) and Item 8.01 (Other Events).
Key Financial & Operational Results (Q3 2026)
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Revenue Performance:
- Consolidated Revenue: $1.066 billion, up 1% reported, constant currency, and organic.
- CooperVision (CVI): $717.0 million (flat YoY reported/organic), driven by +2% organic growth in Toric & Multifocal offset by a -1% decline in Sphere/other, alongside channel inventory reductions in the U.S.
- CooperSurgical (CSI): $349.2 million (+2% reported, +3% organic), propelled by +5% organic growth in Fertility and +2% in Office and Surgical products.
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Profitability & Margins:
- GAAP Gross Margin: 67% (vs. 65% in Q3 2025).
- GAAP Operating Margin: 21% (vs. 17% in Q3 2025).
- Non-GAAP Operating Margin: 26%, up 30 bps year-over-year.
- GAAP Diluted EPS: $2.24 vs. $0.49 in Q3 2025, primarily driven by a $307.2 million discrete tax benefit following the resolution of a U.K. HMRC tax examination regarding a fiscal 2021 intellectual property transfer.
- Non-GAAP Diluted EPS: $1.15, an increase of 4% year-over-year.
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Cash Flow & Capital Deployment:
- Free Cash Flow: $273.0 million (+66% YoY), reflecting $341.7M operating cash flow minus $68.7M capex.
- Share Repurchases: Repurchased ~$339.1 million (4.9 million shares at an average price of $69.16).
- Expanded Repurchase Authorization: The Board increased the share buyback program authorization from $2.0 billion to $3.0 billion, leaving approximately $1.5 billion in remaining repurchase capacity.
Updated FY 2026 & Q4 Guidance
- Q4 2026 Revenue Guidance: $1.057B to $1.080B (0% to 2% organic growth).
- Q4 2026 Non-GAAP Diluted EPS: $1.05 to $1.09.
- Full-Year FY 2026 Revenue: $4.229B to $4.252B (2% to 3% organic growth).
- CVI: $2.828B – $2.842B (+1% to +2% organic).
- CSI: $1.401B – $1.410B (+4% to +5% organic).
- Full-Year FY 2026 Non-GAAP Diluted EPS: $4.51 to $4.55.
- Long-Term Cash Flow Target: Reaffirmed long-term FCF target exceeding $2.2 billion across FY 2026–2028.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
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