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The Cooper Companies: A 6.2% Revenue Growth Reality Check On Underlying Demand!

The Cooper Companies reported a solid start to fiscal 2026, supported by revenue growth, margin expansion, and strong cash generation, though the quarter also reflected some uneven regional and business-level trends. Consolidated revenue increased 6.2%, or 2.9% organically, while non-GAAP earnings per share rose 20% to $1.10. Free cash flow was strong at $159 million, and management raised full-year earnings and free cash flow guidance while leaving revenue expectations broadly unchanged. The main positive in the quarter was the combination of operating discipline and improving profitability. Gross margin came in above expectations, helped partly by a lighter mix of lower-margin Asia Pacific revenue in CooperVision, while operating expenses improved meaningfully as a percentage of sales due to synergies from last year’s reorganization and tighter cost control.