Cooper Companies cuts annual profit forecast on weak contact lens demand

The Cooper Companies

09/09/2026 22:43

Sept 9 (Reuters) - Cooper Companies COO.O lowered its annual profit forecast on Wednesday and posted third-quarter revenue below Wall Street estimates, as weak demand for its contact lenses weighed on sales.
Shares of the San Roman, California-based company fell about 15% in extended trading.

Here are more details:
Cooper now expects annual adjusted profit per share of $4.51 to $4.55, compared with its prior forecast of $4.58 to $4.66
The company also trimmed its forecast for fiscal 2026 revenue to a range of $4.23 billion to $4.25 billion, from its prior view of $4.29 billion to $4.32 billion
Analysts on average expect 2026 revenue of $4.31 billion and profit of $4.63 per share, according to data compiled by LSEG.
Cooper completed a strategic review that included evaluating a potential sale of its CooperSurgical unit, but its board unanimously decided to retain the business.
For the third quarter, revenue came in at $1.07 billion, below analysts' average estimate of $1.10 billion.
Cooper posted a quarterly adjusted profit of $1.15 per share surpassing estimates of $1.12.
Cooper increased its share repurchase authorization to $3 billion from $2 billion.
The medical device maker expects fourth-quarter revenue of $1.06 billion to $1.08 billion and adjusted per-share profit of $1.05 to $1.09.
CooperVision, the company's contact lens business, reported third-quarter revenue of $717 million for the period ended July 31, down from $723.5 million in the previous quarter. 
A reduction in U.S. channel inventory weighed on results and is expected to continue affecting the next quarter. 

 (Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Shailesh Kuber)
 ((SruthiNarasimha.Chari@thomsonreuters.com))