June 4 (Reuters) - Cooper Companies ( COO ) beat Wall
Street estimates for second-quarter profit and revenue on
Thursday, helped by sustained demand for its contact lenses.
Contact lens makers, including Cooper and Bausch + Lomb ( BLCO )
, are expected to benefit this year from the shift to
premium daily disposable lenses and growing global demand for
vision correction.
However, the company lowered its annual revenue forecast and
kept its profit outlook unchanged.
It expects fiscal 2026 revenue of $4.29 billion to $4.32
billion, compared with its prior forecast of $4.31 billion to
$4.35 billion. The company maintained its annual adjusted profit
per share forecast of $4.58 to $4.66.
Analysts on average expect 2026 revenue of $4.32 billion and
profit of $4.62 per share, according to data compiled by LSEG.
Shares of the San Ramon, California-based company were
marginally down in extended trading.
For the second quarter, revenue came at $1.08 billion, above
analysts' average estimate of $1.05 billion.
Cooper Vision, its contact lens business, posted
second-quarter revenue of $723.5 million, topping estimates of
$710.2 million.
The segment's Asia-Pacific revenue fell 6% to $130.6 million
from a year ago. Analysts have previously flagged that
Asia-Pacific remains an area of focus for contact lens makers
after pockets of weakness in the region weighed on the market.
Cooper Surgical, its fertility products and women's health
devices unit, generated $358 million in quarterly revenue.
The company also said it had reached agreements to resolve
substantially all of the claims related to CooperSurgical's
fertility media recall.
Cooper's quarterly adjusted profit of $1.21 per share
surpassed estimates of $1.10.