Cooper Companies reported Q3 2024 revenue of $1.0 billion, up 7% year-over-year. Operating income increased 27% to $192.5 million, with operating margin expanding to 19%. CooperVision sales grew 7% to $675.6 million, driven by toric and multifocal lenses. CooperSurgical sales rose 9% to $327.2 million, boosted by the Cook Medical acquisition.Gross margin held steady at 66%. R&D expenses increased 7% to $39 million as the company invested in myopia management and other programs. Interest expense rose 7% to $28.5 million due to higher debt balances and interest rates. The effective tax rate increased to 36.1% from 28.2% last year.Management expressed optimism about long-term prospects in contact lenses and healthcare markets, while noting risks from global economic conditions and regulatory changes. The company ended the quarter with $1.2 billion available under its credit facilities. Cooper Companies discontinued its semiannual dividend and effected a 4-for-1 stock split in February 2024.

Cooper Companies reported Q3 2024 revenue of $1.0 billion, up 7% year-over-year. Operating income increased 27% to $192.5 million, with operating margin expanding to 19%. CooperVision sales grew 7% to $675.6 million, driven by toric and multifocal lenses. CooperSurgical sales rose 9% to $327.2 million, boosted by the Cook Medical acquisition.Gross margin held steady at 66%. R&D expenses increased 7% to $39 million as the company invested in myopia management and other programs. Interest expense rose 7% to $28.5 million due to higher debt balances and interest rates. The effective tax rate increased to 36.1% from 28.2% last year.Management expressed optimism about long-term prospects in contact lenses and healthcare markets, while noting risks from global economic conditions and regulatory changes. The company ended the quarter with $1.2 billion available under its credit facilities. Cooper Companies discontinued its semiannual dividend and effected a 4-for-1 stock split in February 2024.