COCOOEarnings Analysis财报电话会Source pending来源待核by InvestLog AIInvestLog AI 整理
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COO earnings call: We expect the Q4 non-GAAP effective tax rate to be roughly 16%, resulting in non-GAAP EPS of $1.05 to $1.09. We expect around $170 million of free cash flow, excluding litigation-related payments of roughly $272 million.库珀医疗 (COO) 电话会：我们预计第四季度非GAAP实际税率约为16%，对应非GAAP每股收益1.05美元至1.09美元。我们预计自由现金流约1.7亿美元，不含约2.72亿美元的诉讼相关支出。
Management remarks
Call period: 2026 Q3 · 2026-09-09
Guidance: Brian Andrews: We expect the Q4 non-GAAP effective tax rate to be roughly 16%, resulting in non-GAAP EPS of $1.05 to $1.09. We expect around $170 million of free cash flow, excluding litigation-related payments of roughly $272 million.
Demand and orders: Albert White: At CooperVision, underlying demand remains healthy and our long-term growth drivers remain firmly in place, including continued momentum in MyDay, strong demand for our toric and multifocal lenses and the ongoing success of MiSight.
Margins: Brian Andrews: In summary, we expect Q4 to be broadly similar to Q3, with the primary differences being greater commercial investments in CooperVision, additional FX headwinds and lower tariff refunds, which will pressure gross and operating margins.
Analyst Q&A
Analyst Jonathan Block asked: So Al, previously, the fiscal 2H '26 CVI growth was expected to be up roughly 4%. Now fiscal 2H is expected to be flattish, and you made some comments around consumption. I just want to be clear, is the entirety of that revision inventory related as you did call out consumption of mid-single-digit growth specific to the quarter? Management Albert White answered: So the consumption in the U.S. market here has been running pretty steady all year in the mid-single digits. It was -- it did in Q3, and it did in the first month of this quarter. So I would expect consumption to remain as is. Meaning the entire reason for the reduction in the revenue guidance for CooperVision was tied to just channel inventory.
