Cooper Companies (COO) shares were inching lower after-hours Thursday after the company posted mixed results for fiscal Q3, with slightly better-than-expected adjusted earnings on improved revenues that narrowly missed forecasts.
The medical device company also revised its full-year guidance by cutting the top end and raising the bottom end and issued a mixed outlook for Q4.
For the quarter ended July 31, adjusted EPS was $1.97 a share, down from $2.00 a year earlier, yet beating the mean estimate of $1.95 compiled by Capital IQ. GAAP EPS was $0.91, down from $1.80 per share in the year-ago period.
Revenues rose 7% year-over-year to $461.7 million, shy of the $464.1 million.
For Q4, the company expects adjusted EPS of $2.07 to $2.17 on revenues of $467 million to $484 million. Analysts are expecting adjusted EPS of $2.13 on sales of $496 million.
For the full year, Cooper expects adjusted EPS of $7.51 to $7.61 a share on revenues of $1.81 billion to $1.83 billion. Previously, the company guided for adjusted EPS of $7.40 to $7.70 on revenues of $1.82 billion to $1.86 billion. Analysts are expecting adjusted earnings of $7.55 on sales of $1.84 billion.
COO was moving in the lower half of the 52-week range of $143.62 to $190.00.
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