SAN RAMON, Calif.—CooperCompanies (Nasdaq: COO), a leading global medical device company, yesterday reported financial results for its second quarter for the period ending April 30, 2026, and updated its full-year guidance. Second-quarter 2026 revenue totaled $1.082 billion, reflecting an 8 percent overall increase, and 5 percent growth organically as well as in constant currency compared with the same period last year, the company said. It reported a gross margin of 68 percent, which was similar to last year’s second quarter. The company reported a net loss of $77.9 million for the quarter, as compared with a net income of $87.7 million for the same period the prior year.
“We delivered a strong second quarter, achieving record revenue and non-GAAP earnings per share while marking our 10th consecutive quarter of exceeding consensus earnings expectations,” said Al White, CooperCompanies’ president and CEO. “Our performance reflects solid execution across our businesses, supported by new product launches, favorable demand drivers, and ongoing focus on operational discipline.
“In addition, we have reached agreements to resolve substantially all of the claims related to CooperSurgical’s fertility media recall, representing an important step in addressing this issue and allowing us to move forward with our strategic review,” White said. “Moving forward, we are focused on driving sustainable, profitable growth and strong cash flow, while maintaining discipline in a dynamic operating environment.”
In December, the company issued a statement that noted in part, “The Board and Management, with the assistance of its advisors, are undergoing a formal and comprehensive strategic review of the company’s businesses, corporate structure, strategy, operations and capital allocation priorities to identify any additional opportunities to simplify the company’s business and unlock long-term value, including through partnerships, joint ventures, divestitures, mergers, business combinations and other transactions.
White stated on a conference call that the strategic review was intended to “evaluate opportunities to unlock shareholder value across a range of potential outcomes.” He stated, “We’ve received significant interest in the entire (surgical) business and in pieces of the business. There are a significant number of parties that have given indications of interest.”
In the second quarter, the company’s CooperVision (CVI) business unit contributed revenue of $723.5 million, an 8 percent increase year-over-year, with both constant currency and organic growth at 4 percent, the company stated. Revenue growth was paced by an 11 percent increase in toric and multifocal lenses, while sphere contact lenses and other products grew at 5 percent. Broken down geographically, revenue for the business unit increased 17 percent in the EMEA region and 7 percent in the Americas, but lost ground in Asia by 6 percent. On a conference call, White shared that the company’s MiSight myopia control contact lens revenues grew 24 percent in the first quarter.
The CooperSurgical (CSI) business unit generated $358.0 million in Q2, marking an 8 percent increase from the previous year’s second quarter, with constant currency and organic growth both reported at 6 percent. Revenue growth was highlighted by 13 percent growth in fertility and 4 percent growth in office and surgical.
The company reported that its operating margin in Q2 was negative 3 percent, compared with 18 percent in last year’s second quarter, which the company attributed primarily to a $271.6 million product-related litigation charge associated with the December 2023 voluntary recall connected to its CooperSurgical business unit. On a non-GAAP basis, operating margin was up 260 basis points from last year to 27 percent, reflecting what the company said was disciplined execution and meaningful synergies from last year’s reorganization.
Cash provided by operations was $182.8 million, offset by capital expenditures of $86.4 million, resulting in free cash flow of $96.4 million, the company said. During the second quarter, the company repurchased $13.1 million of common stock, or approximately 174,000 shares. The program has $860.8 million of remaining availability.
CooperCompanies now expects full-year revenue in the range of $4.29 billion to $4.32 billion, reflecting organic growth of 3.5 percent to 4.5 percent.
