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Investing.com -- CooperCompanies (NASDAQ:COO) 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. However, revenue of $1.07 billion fell short of the $1.1 billion analyst estimate, though it represented a 1% increase YoY. The company also announced it would retain CooperSurgical after completing its strategic review process, concluding that offers received were not in shareholders' best interest.
"This quarter included a number of notable developments including earnings exceeding expectations, record free cash flow, solid fertility growth at CooperSurgical, and a favorable completion of a significant tax matter. At CooperVision, however, we reduced U.S. channel inventory that weighed on our results and will continue to impact Q4," said Al White, President and CEO of CooperCompanies.
For the fourth quarter of fiscal 2026, the company expects adjusted EPS of $1.05 to $1.09, with the midpoint of $1.07 falling well below the analyst consensus of $1.19. Fourth-quarter revenue is projected at $1.057 billion to $1.080 billion, with the midpoint of $1.069 billion trailing the $1.11 billion consensus estimate.