The Cooper Companies reported third quarter 2026 revenue of $1.066 billion, a 1% increase that missed analyst estimates primarily due to inventory destocking in the vision segment. While adjusted earnings per share of $1.15 exceeded expectations, the company concluded its strategic review by deciding to retain the CooperSurgical unit after rejecting acquisition offers that the Board deemed undervalued the business.
Key Highlights
- CooperVision organic revenue growth stalled at 0%, a significant miss against the 8.5% estimate, driven by a proactive reduction in U.S. channel inventory.
- GAAP earnings were heavily impacted by a $307.2 million discrete tax benefit resulting from the favorable completion of a U.K. tax examination.
- Free cash flow increased 66% to $273.0 million, supporting the repurchase of $339.1 million in common stock during the period.