Cooper Companies Slashes Annual Profit and Revenue Outlook on Weak Contact Lens Demand
COO is trading near its 52-week low of $58.89 (9.0% below the low) on elevated volume (4.0× avg).
Summary
Cooper Companies cut its fiscal 2026 adjusted EPS guidance to $4.51-$4.55 from $4.58-$4.66 and trimmed revenue guidance to $4.23B-$4.25B from $4.29B-$4.32B, citing weak contact lens demand and a U.S. channel inventory reduction. Q3 revenue of $1.07B missed the $1.10B consensus, though adjusted EPS of $1.15 beat by $0.03. The company also guided Q4 revenue to $1.06B-$1.08B and adjusted EPS to $1.05-$1.09, below prior expectations. Shares fell about 15% in extended trading, reflecting the magnitude of the guidance cut. The board completed a strategic review and decided to retain CooperSurgical, while expanding the buyback authorization to $3B from $2B. This follows the earlier Q3 earnings report that already highlighted the revenue miss and inventory overhang; today's announcement adds specific forward guidance and a sharp after-hours selloff.
At the time of this announcement, COO was trading at $53.60 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.4B. The 52-week trading range was $58.89 to $89.83. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.