Cooper Companies Inc (NASDAQ:COO) stock fell 4.03% (As on March 6, 11:19:23 AM UTC-4, Source: Google Finance) after the company raised its annual profit forecast, betting on strong demand for its single-use daily disposable contact lenses. Analysts expect contact lens makers such as Cooper, Alcon and Bausch + Lomb to post steady growth in 2026 as consumers trade up from monthly or reusable lenses to higher-priced single-use daily disposables. CooperVision revenue grew 8% to $695.1 million, up 3% organically, driven by strength in the premium MyDay portfolio and new product launches including MyDay MiSight. Toric and multifocal products grew 6% organically, while sphere and other products increased 1% organically. CooperSurgical revenue increased 3% to $329.0 million, up 2% organically. The fertility segment grew 3% organically, while office and surgical products rose 2% organically. Daily silicone hydrogel lenses grew 7%, led by double-digit growth in MyDay, while Clarity was up slightly. Biofinity and Avaira grew a combined 3%, and MiSight continued its strong growth, up 23%. Operating margin expanded 180 basis points on a non-GAAP basis to 27%, reflecting synergies from last year’s reorganization. The company generated $158.7 million in free cash flow during the quarter and repurchased $92.5 million of common stock.

Moreover, regionally, the Americas grew 6%, led by strength in daily silicone hydrogel lenses, and AMEA grew 4%, strengthening the number one market position in that region. Asia Pac declined 4% as execution on new product launches was more than offset by softness in Japan, primarily tied to lower margin older hydrogel products.

COO in the first-quarter fiscal 2026 has reported the adjusted earnings per share of $1.10, beating the analysts’ estimates for the adjusted earnings per share of $1.03, helped by cost savings from a major reorganization completed last quarter. The company had reported the adjusted revenue of $1.02 billion in the first-quarter fiscal 2026, which is inline with the analysts’ estimates for revenue of $1.02 billion.

The company expects annual adjusted profit of $4.58 per share to $4.66 per share, up from its previous expectations of $4.45 to $4.60 apiece. Analysts, on average, estimate annual adjusted profit to be $4.52 per share, according to data compiled by LSEG. CooperCompanies raised its fiscal 2026 free cash flow guidance to $600-$625 million.

Cooper raised its annual revenue forecast to a range of $4.306 billion to $4.346 billion, up from its prior forecast of $4.299 billion to $4.338 billion, and slightly above analysts’ estimate of $4.320 billion.

The company said it remains on track with its long-term outlook of generating more than $2.2 billion in free cash flow from 2026 through 2028.