# Cooper Companies, Inc.: Form 10-Q for the period ended Apr 30, 2025

- Company: [Cooper Companies, Inc.](/companies/coo.md) (CIK 711404)
- Form: 10-Q
- Filed: 2025-05-30
- Accepted by EDGAR: May 30, 2025, 16:19 ET
- Period: 2025-04-30
- Accession: 0000711404-25-000040
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/711404/000071140425000040/coo-20250430.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/711404/000071140425000040/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-04-30.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 3 months, 2025-02-01 to 2025-04-30 | $1.00bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Revenue | 6 months, 2024-11-01 to 2025-04-30 | $1.97bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 3 months, 2025-02-01 to 2025-04-30 | $323.2m | us-gaap:CostOfGoodsAndServicesSold |
| Cost of revenue | 6 months, 2024-11-01 to 2025-04-30 | $627.7m | us-gaap:CostOfGoodsAndServicesSold |
| Gross profit | 3 months, 2025-02-01 to 2025-04-30 | $679.1m | us-gaap:GrossProfit |
| Gross profit | 6 months, 2024-11-01 to 2025-04-30 | $1.34bn | us-gaap:GrossProfit |
| Research and development | 3 months, 2025-02-01 to 2025-04-30 | $45.5m | us-gaap:ResearchAndDevelopmentExpense |
| Research and development | 6 months, 2024-11-01 to 2025-04-30 | $86.2m | us-gaap:ResearchAndDevelopmentExpense |
| Selling, general and administrative | 3 months, 2025-02-01 to 2025-04-30 | $399.0m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Selling, general and administrative | 6 months, 2024-11-01 to 2025-04-30 | $786.9m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months, 2025-02-01 to 2025-04-30 | $184.8m | us-gaap:OperatingIncomeLoss |
| Operating income | 6 months, 2024-11-01 to 2025-04-30 | $366.8m | us-gaap:OperatingIncomeLoss |
| Interest expense | 3 months, 2025-02-01 to 2025-04-30 | $24.2m | us-gaap:InterestExpenseNonoperating |
| Interest expense | 6 months, 2024-11-01 to 2025-04-30 | $50.2m | us-gaap:InterestExpenseNonoperating |
| Income tax | 3 months, 2025-02-01 to 2025-04-30 | $56.8m | us-gaap:IncomeTaxExpenseBenefit |
| Income tax | 6 months, 2024-11-01 to 2025-04-30 | $105.8m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months, 2025-02-01 to 2025-04-30 | $87.7m | us-gaap:NetIncomeLoss |
| Net income | 6 months, 2024-11-01 to 2025-04-30 | $192.0m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months, 2025-02-01 to 2025-04-30 | $0.44 | us-gaap:EarningsPerShareDiluted |
| Diluted EPS | 6 months, 2024-11-01 to 2025-04-30 | $0.96 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months, 2025-02-01 to 2025-04-30 | $0.44 | us-gaap:EarningsPerShareBasic |
| Basic EPS | 6 months, 2024-11-01 to 2025-04-30 | $0.96 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months, 2025-02-01 to 2025-04-30 | 200,700,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Diluted shares (weighted) | 6 months, 2024-11-01 to 2025-04-30 | 200,900,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 6 months, 2024-11-01 to 2025-04-30 | $286.8m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 6 months, 2024-11-01 to 2025-04-30 | $167.5m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Share repurchases | 6 months, 2024-11-01 to 2025-04-30 | $40.6m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | at 2025-04-30 | $116.2m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-04-30 | $2.13bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-04-30 | $12.41bn | us-gaap:Assets |
| Current liabilities | at 2025-04-30 | $1.01bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-04-30 | $4.13bn | us-gaap:Liabilities |
| Long-term debt | at 2025-04-30 | $2.52bn | us-gaap:LongTermDebtNoncurrent |
| Current portion of debt | at 2025-04-30 | $59.8m | us-gaap:DebtCurrent |
| Short-term borrowings | at 2025-04-30 | $58.8m | us-gaap:ShortTermBorrowings |
| Shareholders' equity | at 2025-04-30 | $8.29bn | us-gaap:StockholdersEquity |

## Management's discussion and analysis

As filed, 716 characters.

In March 2017, the authorization under the 2012 Share Repurchase Program was increased to $1.0 billion by the Company's Board of Directors. As of April 30, 2025, $215.8 million remains authorized for repurchase.

The following table provides information about the shares repurchased by the Company for the three months ended April 30, 2025:

| Period | Total number of shares purchased (in thousands) | Average price paid per share | Total number of shares purchased as part of publicly announced plan (in thousands) | Approximate dollar value of shares that may yet be purchased under the plan (in millions) |
| --- | ---: | ---: | ---: | ---: |
| April 1, 2025 to April 30, 2025 | 537.2 | $75.60 | 537.2 | $215.8 |

## Market risk

As filed, 2,490 characters.

We are exposed to market risks that relate principally to changes in interest rates and foreign currency fluctuations. We do not enter into derivative financial instrument transactions for speculative purposes.

#### Foreign Currency Exchange Risk

We operate multiple foreign subsidiaries that manufacture and market our products worldwide. As a result, our earnings, cash flow and financial position are exposed to foreign currency risk from foreign currency denominated receivables and payables, sales transactions, capital expenditures and net investment in certain foreign operations. Most of our operations outside the United States have their local currency as their functional currency. We have exposure to multiple foreign currencies, including, among others, the British pound, Euro and Japanese yen. We have taken steps to minimize our balance sheet exposure by entering into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on certain trade and intercompany receivables and payables.

At April 30, 2025, a uniform hypothetical 10% increase or decrease in the foreign currency exchange rates in comparison to the value of the U.S. dollar would have resulted in a corresponding increase or decrease of approximately $31.8 million in operating income for the fiscal quarter ended April 30, 2025. See Note 12. Financial Derivatives and Hedging of the Consolidated Condensed Financial Statements for further information.

#### Interest Rate Risk

We are exposed to risks associated with changes in interest rates, as the interest rates on our revolving lines of credit and term loans may vary with the federal funds rate and SOFR. As of April 30, 2025, we had outstanding debt for an aggregate carrying amount of $2.6 billion. We have entered, and in the future may enter, into interest rate swaps to manage interest rate risk.

Our ultimate realized gain or loss with respect to interest rate fluctuations will depend on interest rates, the exposures that arise during the period and our hedging strategies at that time. As an example, if interest rates were to increase or decrease by 1% or 100 basis points, the quarterly interest expense would not have a material impact, based on average debt outstanding, after consideration of our interest rate swap contracts, during the second quarter of fiscal 2025. See Note 5. Financing Arrangements of the Consolidated Condensed Financial Statements for further information.

## Controls and procedures

As filed, 3,824 characters.

### Evaluation of Disclosure Controls and Procedures

Based on management’s evaluation (with the participation of our Chief Executive Officer (our Principal Executive Officer) and Chief Financial Officer (our Principal Financial Officer)), as of the end of the period covered by this report, due to the material weakness described below, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended, (the Exchange Act)) are not effective as of April 30, 2025 to provide reasonable assurance that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms and is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

As reported in Part II, Item 9A. "Controls and Procedures" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2024, the Company previously identified a material weakness in information technology (IT) general controls for the U.S. operations within the CooperSurgical segment, related to the implementation and maintenance of certain enterprise resource planning systems (ERP) during fiscal 2024. The material weakness resulted from not having a sufficient complement of its personnel, inadequate training of personnel and ineffective risk assessment processes to identify and timely respond to the risks related to change management, user control monitoring and segregation of duties in the affected IT environment. Manual controls that rely on system-generated data or reports from the affected IT environment or process level automated controls in the affected IT environment were ineffective because they could have been adversely impacted.

In response to the material weakness, management, with oversight of the Audit Committee of the Board of Directors, is implementing steps to remediate the material weakness. Our internal control remediation efforts include the following:

- Enhancing risk assessment and procedures over our IT general controls for the affected environments;
- Developing the skill sets of employees and additional training programs addressing IT general controls and policies with a focus on those related to change management, user access and segregation of duties over IT systems impacting financial reporting;
- Enhancing controls supporting change management to ensure systems’ integrity as well as user access monitoring controls to enforce appropriate system access and segregation of duties.

We are committed to ensuring that our internal control over financial reporting is designed and operating effectively. Management believes the efforts taken to date and the planned remediation will improve the effectiveness of our internal control over financial reporting. While we continue making progress with these remediation efforts, the controls must be operating effectively for a sufficient period of time and be tested by management in order to consider them remediated and conclude that the design is effective to address the risks of material misstatement.

### Changes in Internal Control over Financial Reporting

Except as set forth above, there has been no change in our internal control over financial reporting identified in connection with the evaluation required by Rules 13a-15(d) and 15d-15(d) of the Exchange Act during our second quarter of fiscal 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

## Risk factors

As filed, 817 characters.

*Our business faces significant risks. These risks include those described below and may include additional risks and uncertainties not presently known to us or that we currently deem immaterial. Our business, financial condition and results of operations could be materially adversely affected by any of these risks, and the trading prices of our common stock could decline by virtue of these risks. These risks should be read in conjunction with the other information in this report.*

Risk factors describing the major risks to our business can be found under Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended October 31, 2024. There have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended October 31, 2024.

Filed May 30, 2025.
Source: SEC EDGAR, the filing index for accession 0000711404-25-000040. Last ingested by Listed: Oct 27, 2026, 16:37 ET. No prices; not investment advice.