Cooper Companies Inc (NYSE:COO) stock rose 1.34% (As on September 1, 11:18:46 AM UTC-4, Source: Google Finance) after the company supposed the analysts’ expectations for both the topline and bottom line estimates for the third quarter of FY 22. CooperVision (CVI) revenue up 2% to $566.3 million, and CooperSurgical (CSI) revenue up 35% to $277.1 million. Growth was led by our daily silicone hydrogel portfolio in myopia management products for CooperVision and fertility for CooperSurgical. For CooperVision and reporting all percentages on an organic basis, revenue growth was strong and diversified in all product categories, spheres, torics and multifocals, and within all three geographic regions.

On a non-GAAP basis, gross margin was 66%, down from 68% last year driven primarily by currency. On a non-GAAP basis, operating margin was 23%, down from 27% last year driven primarily by currency and increased investments. Net debt outstanding at quarter end was $2.6 billion (total debt excluding unamortized debt issuance costs less cash and cash equivalents) down $218.2 million from last quarter. Adjusted leverage ratio (net debt over adjusted EBITDA) 2.44x. Cash provided by operations of $263.9 million offset by capital expenditures of $46.6 million resulted in free cash flow of $217.3 million.

COO in the third quarter of FY 22 has reported the adjusted earnings per share of $3.19, missing the analysts’ estimates for the adjusted earnings per share of $3.20, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 10 percent to $843.4 million in the third quarter of FY 22, beating the analysts’ estimates for revenue by 1.44%.

For fiscal 2022, the company expects total revenue to be in the range of $3,290 – $3,310 million (organic growth of 10% to 11%), CVI revenue is expected to be in the range of $2,236 – $2,247 million (organic growth of 11% to 12%) and CSI revenue is expected to be in the range of $1,055 – $1,064 million (organic growth of 7% to 8%), Fiscal 2022 is expected to be in the range of non-GAAP diluted EPS $12.72 – $12.87.

Fiscal fourth quarter 2022 total revenue is expected to be in the range of $830 – $850 million (organic growth of 9% to 11%), CVI revenue is expected to be in the range of $554 – $565 million (organic growth of 8% to 10%), CSI revenue is expected to be in the range of $276 – $285 million (organic growth of 10% to 15%) and Fiscal fourth quarter 2022 non-GAAP diluted EPS is expected to be in the range of $3.05 – $3.20.