CooperCompanies shares plunged 15% in after-hours trading Wednesday after the medical device company reported third-quarter results that missed revenue expectations and issued fourth-quarter and full-year guidance significantly below analyst estimates. The company reported adjusted earnings per share of $1.15 for the fiscal third quarter ended July 31, 2026, beating the analyst consensus of $1.12 by $0.03, but revenue of $1.07 billion fell short of the $1.1 billion estimate, though it represented a 1% increase year-over-year. The company also announced it would retain CooperSurgical after completing its strategic review process, concluding that offers received were not in shareholders' best interest. For the fourth quarter, the company expects adjusted EPS of $1.05 to $1.09, with the midpoint of $1.07 well below the consensus of $1.19, and revenue projected at $1.057 billion to $1.080 billion, trailing the $1.11 billion estimate. Full-year guidance calls for adjusted EPS of $4.51 to $4.55, below the $4.63 consensus, and revenue between $4.229 billion and $4.252 billion, under the $4.31 billion estimate. CooperVision revenue was flat at $717.0 million, while CooperSurgical revenue grew 2% to $349.2 million. The company generated free cash flow of $273.0 million, up 66% year-over-year, repurchased $339.1 million of stock, and expanded its share repurchase authorization from $2 billion to $3 billion.
The Cooper Companies, IncQ3 revenue miss and Q4/full-year guidance well below consensus, plus decision to retain CooperSurgical after strategic review, drove the 15% plunge.
