REFILE-Cooper Companies lowers annual revenue forecast, shares fall

By Sruthi Narasimha Chari

Aug 27 (Reuters) - Cooper Companies COO.O lowered its annual revenue forecast on Wednesday due to a slowdown in demand across certain geographies, sending its shares down nearly 10% in extended trading.

The company saw a "noticeable drop" in demand for contact lenses in parts of Asia and a slowdown in America.

"We saw greater than expected weakness within the pure play e-commerce segment in Asia Pac, excluding Japan. This mirrored our experience in Q1 in China and was again most pronounced there, although it also affected several smaller regional markets," CEO Al White said.

For fiscal 2025, Cooper expects revenue to range between $4.07 billion and $4.10 billion, down from its previous forecast of $4.11 billion to $4.15 billion.

Analysts, on average, estimate annual revenue to be $4.12 billion, according to data compiled by LSEG.

The company said in its earnings call that by the end of fiscal 2026, it expects the tariff impact to be about $24 million.

Last week, Cooper's peer Alcon ALCC.S, a Swiss-American eye care group, cut its 2025 sales forecast, flagging the impact of U.S. tariffs amounting to about $100 million.

Cooper reported total revenue of $1.06 billion for the quarter ended July 31, in line with analysts' estimates.

However, CooperVision, the company's contact lens division, reported quarterly sales of $718.4 million, missing analysts' average estimate of $721.8 million.

Cooper also raised annual adjusted profit to $4.08 to $4.12 per share from its previous expected range of $4.05 to $4.11.

Analysts, on average, estimate annual adjusted profit to be $4.07 per share.

On an adjusted basis, the company reported a third-quarter profit of $1.10 per share, above analysts' expectations of $1.07 per share.