The Cooper Companies, Inc. (COO) 2 Mar 232023 Q1 Earnings call transcript

Ladies and gentlemen, thank you for standing by. And welcome to Q1 2023 Cooper Companies Earnings Conference Call.

I would now like to turn the call over to Kim Duncan, VP Investor Relations and Risk Management. Please go ahead.

Good afternoon, and welcome to Cooper Companies' first quarter 2023 earnings conference call.

will release results remaining and questions. we in guidance time call, earnings the then today's discuss and the included for During use the

presenters and Treasurer. President Al and Our Andrews, call Executive Brian Officer Chief Officer; White, Financial Chief today's on and are

statements, I'd guidance forward-looking launches, and operations, regarding results all we other call anticipated begin, that market conference earnings submissions and of regulatory benefits. integration or of conditions initiative, product to statements operational like Before revenue or or you and remind this or contains including share trends, acquisitions regulatory per anticipated closing any their

Form results Forward-looking or future company the forward-looking forward-looking differ are assumptions, imprecise data Form and described our caption SEC actions in filings, on and materially at which statements subject coopercos.com. our statements to website described in from are and filings, forth the methods Cooper's are actual set earnings release to risks depend could are that and incorrect available and in that uncertainties. XX-Q statements of may including be on Events all those of or our under cause today's XX-K

results. website a the reminder, release, quarterly our information. our call information following refer on our e-mail is ir@cooperco.com. available financial you the which is additional and under GAAP a as our the under in on Relations We results the earnings reconciliations please of to Investor section have to we provide provided call, non-GAAP provided will questions Should any as Also, encourage non-GAAP you consider as supplement GAAP this to as well

the opening call turn to over now, his Al remarks. And for I'll

and on call. this everyone quarter CooperSurgical. Companies welcome first with CooperVision performances fiscal Cooper year XXXX note We conference Thank positive operational both strong you, at Kim, and started a to

organic growth. we reported revenues of quarterly quarter revenue CooperVision, double consecutive our record and eighth digit For

double organic CooperSurgical, For ninth revenue consecutive results of its including posted reporting quarter digit strong we growth. fertility

in year start solid balancing strength activity efficiencies This will yielding by revenues to operational and expected. investment driven deliver exactly faster with management expectations the the continue than and to results. wanted exceeded Earnings is we operational activities prudent investment how

XX% the revenues posted organically. million CooperVision’s and revenue organically led products revenues quarterly $XXX daily broad all-time up million. quarterly and Consolidated and up CooperSurgical’s based record share to management $X.XX. our reached growth with per growth was was of high of many in hydrogel of CooperVision silicone CooperSurgical by strength XX% $XXX million Moving Non-GAAP myopia numbers. earnings were $XXX posted an areas. portfolio

QX was launches, product was and XX%. offerings organic percentages in reporting grew key The XX% revenue expanded market and grew customized Pac flexibility ranges, This product an through and on basis, diversified. our Asia leading growth driven in accounts. by Americas performance CooperVision X%, For strong growth grew and EMEA new

Regarding product hydrogel silicone XX% especially lenses from details, with daily grew MyDay. strong growth

lenses be a growth spheres clarity the to offer of the the portfolio and we Daily hydrogel wide contact lens available silicone continue and torques and for industry MyDay in of broadest range with main multifocals. driver

growth. week of two and Vitality Biofinity quarter and monthly hydrogel lenses silicone Avaira another As X% solid reported

During the product remain extremely news we busy.

Asia and MyDay we to and growth product available taking incredibly strong the we becomes rollout going customers as EMEA more in remains outstanding and Our practitioners multifocal well continue expect and readily Feedback is continue Pac. share. from

sphere well daily expanded wearing range halo enjoy the the ever. over MyDay a the and widest XXXX be in first U.S. lens and rollout which freedom also activity range launching positive All the by having performing toric quarter. of monthly Canada has is expansion to parameter the toric to going SKUs and also the toric is time we'll this MyDay torque for EMEA door a its With weeks opening contact many this in the daily well. two wears impact margin and the market a in on is our MyDay wide Our

U.S., on eye same MyDay alleviate digital strain resulting Biofinity to lens MyDay the of a lastly, uses that day impacts premium franchise. the Studies And and I'm more now seven excited as this innovative digital the spending national boost than announce technology started uncomfortable. the eyestrain. on show ceiling Energys in adults Energys are hours we to screens, of rollout in

our the dedicated this survey and to get practitioners MyDay boost developing customers perfect technologically this shows products and come. daily for MyDay remain its that offering. and fatigue. eye is exciting technology with years solution All activity out technology superior to to this to we and is are work Energys, address excited digital clearly And many a rolling

daily price Clarity way allowing the Clarity mass performing into Lastly, utilizing franchise to eye great segment, silicone space. well. the market practitioners daily care Its is a point wares to is continue the within hydrogel bring as

multifocal torics, of range Demand outside offerings. biofinity Moving strong and led remains dailies. by extended our for

of multifocals. the vitality, to Pac. is constrained a high order some our areas, quarter be these especially the significant we up torics to our But of to as And toric continue in extremely and ramp nice a in allowing such lastly, address around made demand. range We Asia capacity with us extended had very continued demand products especially facilities manufacturing

on line posted with sales in keeps was $XXX of in revenues this year. management, MiSight with Moving $XXX and reach to million of XX% we $XX up million XX%. our up us track million expectations This goal to to Myopia

offices activity control numerous expanded expanding availability CooperVision progress comfortable accelerating a We're as their to continuing effect our with management. more And our practice other actively making and in accounts Regarding great on MiSight, we're we're optical their increased see efforts. use launching halo customers range MiSight numerous Myopia R&D become parameter key positive of with lenses. seeing sitting

and the eye care as eye risk Myopia associated and within health retinal This the control a for of is extensive is by of care management such and Myopia community become of reduce with longtime standard cataracts, backed as clinical help the problems MiSight is Myopia first critical the the macular lens FDA product detachment, contact degeneration. approved only data. differentiator proactive to

done that efforts. In million we're great major bottles contact equivalent than CooperVision work in announced of I This team the our the sustainability and incredibly has from to mention that entering net by eye the program more wearers milestone the a plastic reached success. environmental XXX and lens the with received Finally, initiative January, its oceans. of we prevention has our of neutrality plastic care been professionals extremely proud well want

by on trend needing of XX%. by population XXXX roughly year of up expect global from year vision the It's And contact estimated To macro more roughly faster X% today. the a at nearsightedness the CooperVision market to the grew correction. growing growth finish have XX% myopia people or calendar we another robust CooperVision, XXXX, supported with lens XXXX, will in XX% be

hydrogel when multifocals, This time, ongoing products and silicon is driven by with shift greater including variety to and combined the focus a the torics value on screen of higher higher increasing pricing. dailies, factors and as such

strong business data. expect for our robust remain the years expect We management of launches, new to ongoing leading growing we industry. a Myopia product fit product fast And and growth many portfolio, leader with

and its sales to product to business strong year, of Moving of base with for double ninth start fertility organic the fiscal XX% consecutive this excellent around organically Success results the was throughout $XXX portfolio quarter was digit posted the growth. world. CooperSurgical, million up an broad our

and very stands beginning countries macro a with growth and in exciting woman's supporting There several drivers market industry The in U.S. the age fertility space now to global contributing for The and old strong age significant remains years women delaying trends developed key are potential. childbirth. need within first factor fertility term multiple long this at a other the with record XX birth a assistance. is average

XX% include and It's awareness, offerings, improved access coverage, through numbers measures, benefit technology are babies assisted female patient challenges increasing to infertility Other and and have over treatment, that product for fertility increasing are estimated improvements of born reproductive challenges. improving couples growth growing. these that fertility age annually fertility XXX,XXX both male and roughly drivers

forecast billion XX% of we to many sales a that's the growth broader space, to $X X% Within fertility come. roughly annual for in and compete in we market years

Our and accounts. commercial positioning is the solid with key footprint a in portfolio excellent on industry, the broadest strength

our especially services capital and Demand building expanding genetic in portfolio, equipment infrastructure very reproductive in testing. we're products by our We're and this investing market. within geographically. our consumables, and to product high and strong, people keep accounts, we key the investing also which remains includes And need our growth required team so delivering in

and work this OB/GYN posted PARAGARD ongoing Moving And and managing to supply medical products. XX% This team organically. products, storage, is I'm several of a we $XXX strength with million we're the Within proud hard of demand core in devices strong sales having OB/GYN great which challenges. stem devices, grew chain includes with seen Surgical our XX%, cell Office success job doing up medical and of

PARAGARD lastly, price this improving in year to but grew for business grew We've cell organically. of we're implemented happy We'll to natural buying stem roughly traction. offset that it's at the this XX% good And a quarter. report driven end business to And year start. a of our storage a increase off nice seeing see over to the the QX, a from owned by X% just get now. I'm activity X%

and the is we business synergies in part of a The as transaction the occurring position. are expected good

an I'm in of focus report investment happy part and cells. recently efforts we Tegan, importance this our with off our preserving stem ongoing marketing exciting leading campaign of newborn latest As and the around space educational Chrissie kicked to activity

see year. this The very media I'm been to through progresses excited it early value reaction to delivers positive and campaign the has social and how

shows and CooperSurgical, is fantastic love really every using is. our of. a conclude business I that proud truly mention that something products. CooperSurgical baby meaningful born a just CooperSurgical it I Worldwide minute To want and to now what I'm

this start let So year. how is we to say this wanted me summarize, again fiscal exactly to

strong, excellent, executing is to was performance operational sustainable our momentum term growth. on drive investments Our our long we're and

with turn the Brian. call let me over to And that,

refer good And GAAP Al. earnings be so afternoon a for results. on you, our of commentary Most basis, non-GAAP will reconciliation of to release non-GAAP please Thank everyone. a to my

up revenues were margin were reported, as Consolidated XX.X%, due year was X% First currency quarter to product primarily X.X% up organically. down consolidated gross last XX% mix. $XXX from and million

many consolidated of QX down from quarter. been XX.X% to the expectations to and in to report last Operating of XX.X% the was of we happy challenges And the XX.X% now margin strength I'm that experienced color, primarily revenues. exceeded results year, grew freight resolved. some distribution that That's currency. QX end at financial continued expenses And operating the to into these due that XX% due our have

income was was and our rate roughly interest expense operating Below with XX.X%. shares $XX tax Non-GAAP $X.XX outstanding. average EPS XX.X effective was million, million

$X.XX by forecasting $X.X provided than which year-over-year, earnings in roughly impacted we is better were when negatively guidance FX December. we

of $XX be heavily expect CapEx and CapEx that including cash billion. we million $XX Free million, million. continues continue. flow capacity expansion, by $XX Net was to to driven by to decreased debt $X.XX

guidance, revenues Turning improved to FX and beat, for incorporating XXXX rates. by QX we're earnings and our slightly expectations fiscal operational better increasing performance

revenues $X.XX X% organically. billion This organically. And consolidated up of results X% X to to of revenues X% X% $X.XX to With up to in billion, CooperSurgical to up $X.XX organically. X% revenues $X.X $X.XX up $X.X to CooperVision billion billion, billion, X%

is effective be to in But forecasted tax $XX.XX. $XXX range this slightly this. to higher our EPS to to a Within Non-GAAP expected expected XX.X% is is at interest of be around be offsetting rate expense around $XX.XX million.

May, XX future basis basis expense, interest rate A increase XX June. then assuming point point an and basis this additional another Fed XX in point moves. increase For we're in month, increase three

using tied taken we an from expectations And impact rates, to expecting to are we're P&L more slightly we're a passing we've positive to fully For now updated raising operational which drive currency, efficiencies. perspective, actions along. we're the

of to To QX we're expecting better the coming by $X.XX QX $X.X QX we're from our raising with $X.X summarize coming QX improvements for operational from and beat, guidance $X.XX, FX this, in that midpoint cents earnings QX. to in

the FX. in The guidance similar revenue QX to better is increase and beat, stronger in incorporating QX our QX expected performance

be One lens into efficiencies. addressing the to specialty lens our supply challenges business we've improvements example franchise. steps to taken consolidation would QX, the further our of the improve addition our Regarding core from such operational operational chain in

core products, Over cornea. of the to has the part leverage such now Ortho-K our to of consolidate has and more scleral comprised our irregular created business lenses most grown severe past lens comprehensive its myopia CooperVision as and specialty time world's and treat several This of and leading years, cases infrastructure. our nicely, contact into portfolio, operations

so term we're and In to very accordingly. we're long capabilities and growth continuing the investing launches, growth to our manufacturing strong, is in invest meantime, our support objectives. prudently, Demand long are distribution product positive, trends term footprint but

positives this are lot take from There to a of away activity.

are challenges. cautious recession incorporated numbers said, our risk, and are we looking expectations. inefficiencies being chain and remain efficient, our tied into capabilities the That And becoming expanding, continued better. are I've to more Our operations regarding supply that

conclude not include To guidance. that it acquisition business. Note of the Medical’s reproductive on Cook does pending health

to including be year. approval, transaction We’re this we order the to assets. this Cook of resolved certain potential obtain in sale August of options related all exploring transaction regulatory the by to expect And

I with will And it the questions. that, operator to hand back for

[Operator Instructions] the proceed. Please first Block question Our comes of Jon Stifel. line from from

with Hey, Brian, clarifying afternoon. questions. guys, I'll thanks. good some And just start maybe

of EPS. that from revenues So a was think change? neutral I update FX X.X% quarter. is a drag? revs net within was X.X% How it So there the and number to new does for previously, drag the FX That prior

EPS, right, XQ to XQ. make by embedded in clear $X.X $X.X then and can Maybe improved outperformance I to balance we $X.XX? bit. to that the of fiscal up the intent heard I a is want sure the just of sort little you XQ I is mean that

sure. Jon. Sure, Hi,

You're right.

prior we of I'd round year, And bit still FX I better. guidance, say were a it’s headwind. X%. had X.X%, it's where revenues, about It's X.X%, neutral the from a the kind revenues. to to on EPS the EPS saying but we're on to It's X.X% margin. a we still before a little that for headwind just stronger say for So

$X.XX QX operational. performance. recap, comes the operational is from by rest then $X.XX, it FX. QX from we’re the of The half FX, QX year the other just updated through $X.X from of When the to beat raising which by the $X.X to other coming $X.XX, guidance, half we and That's

Yes.

Okay, perfect.

certainly supply guys lens lot just contact about for Maybe a been the industry, There’s know, concerns seem the chatter you that that just there. think big helps. you I to question, second picture Al, I'll certainly of parallel. certainly within be ask,

to guys sit. your just mentioned of I some where about you demand especially or you But bit top your of speaking, the the on from guys MyDay comfort them? sit with and a able maybe talk hitting the broadly building stay getting guys. But around you're to curve, level Okay. little gas product that lines. Energy’s ahead know, be of Thanks, where you confidence

talked the and challenges. our of we chain see if Yes. I Sure. I feel mean, in good and about And there's those we're that you it some about market, pretty supply also, still challenges still some will. at. had competitors have where

working and As I mentioned, we couple that do have some capacity constraints, if right you other will, a we're within resolve. now aggressively at biofinity, pretty to spots

with Biofinity, with we're with at spot wear a rolling a that, a But right a in we've with We're at perspective in the we're distribution high Energys feel where good pretty good at. from good production perspective, start MyDay, position a level, in spot out a good we're spot good got Vitality. about a now Clarity, I good with and in we're a we're

at of position. in supply from perspective, challenges, chain getting least a pockets So, better a but we're definitely for us,

Larry question of a Please proceed. next Fargo. from comes from Biegelsen Our Wells line

the guys. Good a on afternoon. Thanks question. for And really here, taking nice congrats quarter

to the So start lens and margin Brian. contact I had on market, for then wanted one I question Al

you Have assuming lens So called how contact guidance contact for you? week, label you out insulate implies, for the any organic business behavior? some the how the roughly what call lens your in of changes in does the their private softness this market on help XX% are Alcon market, year, rest And the consumer XXXX? growth seen

February a had January, good definitely a to had we good Yes, year, the so month. start was we've a good

speaking for I'm momentum. positive Cooper. seeing we're So

see would bit we're about a into If we're we've that guidance. So to built what a similar share, that perspective. market I in the place broadly, historically. from And think little our more I I you good think taking taken say

year. massive a know, you the over not to growing, points, like similar kind share. So But that last something point of of what amount markets two

market going going this the certainly the is good think end way off time, in the to frankly, probably the digits. starting we be the So year, and contact visibility to mid-single think I of year have, lens higher on digits and market have is mid-single the overall the point I another at

we at issues When brands. of in also you at right have portfolio and forth. lot managing accounts, the some now profitability a that you when look the customer And at retailers our our looking bigger definitely own helps chain market, broadest manage are supply portfolio, so we look their own their of who and

have are a turn we them. areas have One to support we that lot they'll on ran. Those a closely customer key their a brands. to And around of accounts that And and them is with relationships store a lot, their we tendency and own pride of tendency products spy the to our that. have very to with strong take focus in work continue

that So, as year. this think help us I us does and through I think it'll help we move

any not those terms have driven seen seeing success frankly, habit changes trade along heavily our lines. anything still We MyDay, in like by terms We're really or of down in franchise. much wearing of product within

having price are that's with point. more mass of a market We success Clarity,

if think more a moves a great the I bit well continue think to you option we do we'll of that being things, concerned see in little with do any have I with and consumers Clarity, that. about cost and associated

day, So, it. I've of bit and yes, net I'd a taken strong say this net at I'm share little the end a the of market year envisioning

operating path past of call That's have what to low in on the super range, mid kind answer. The embedded for the quarters taking let's Thanks it it the they help about margin the XX% been embedded margins, call can is and XXX is basis the guidance peak, the XX%? XXXX margin operating to decline, Brian decline for two in margin in thanks helpful us the XXXX, the questions. what's to comprehensive you points? the XX.X%. And in -- understand, XX.X%? the back bridge And

Hi, Larry. Good question.

has fairly us. to obviously So, yes, headwind decent XXXX, since FX a

X.X%. been about that's So

The three of I each. other parts, X%, sort of ties into will bucket of kind kind one-third

is we five ago from share headwind created a for best few moved us. years that's of and just years comp, One base equity four a as of couple them years to thing,

the that's tied we've the chain a been And got about no that. So that's all just to and Supply things we've here. distribution, of talking third about third a delta. about recently surprise,

we've that, been infrastructure also work largely and been IT. then, doing, sort ERP that automation over the of includes the that of IT making investments With that business, our we're we've And course, putting upgrades into I on focus other the and just kind but years. of

we're say So containment and I'd the those in to changes effort, of comment some say to our in where continue that look the of leveraged of an But one the many. automate -- is neighborhood cost But, to we're as just that, continue margin remarks I after exercises, going we we'll know, will But we're example you continue forward. your moves structural equity the the eventually hurdle, making my land. is I going to we're operating one efficiency year would and piece, that going go to into grow the to centralize that And to our from and we gave going prepared to all I directionally and infrastructure. is expect we're infrastructure. leverage get think for

currency the income is up is guidance also our a on midpoint I'd operating basis. say from X% One perspective, taken constant an thing just, of by

year expect our growth around currency getting leverage, XX.X% of guidance. this already So you going the to OI midpoint we're we're would at constant get

much. very you Thank

Johnson from line Our next of Baird, Jeff from question the proceed. please comes

they I forth, the a you environment And the starting or expect did bit MyDay that of come back quarter, Thank lens whether kind pricing be it could still guys. price. given pricing you are to a year was just maybe Energys contracts? some of a were should feel those premium little better retail business, Al this this same we and and you. it price out premium? see Biofinity, afternoon, like out do premium got specifically, at from just for was a a you of value value what Good larger on just, standpoint, contract know at

are on what So planning Energys? you Thanks. MyDay

sure price be MyDay Yes, MyDay the sphere. will where MyDay will number I'm XX% regular around But a it'll price premium to Energys so to be settle somewhere the lens? not the exactly a out. premium

this this On for X% be perspective will pricing a I year. pricing we'll a from in general. year get DC plus Yes, think pricing, us. that

And programs As right? X% net an and industry, you're plus about but net through run seeing price people range. are pricing, of whatever high X% you'll Because programs right, it's probably in positive I'm as looking as even else, rebate but lot thing. that of talking scene to Same or range. pricing a behind putting kind pricing, then at that the increases maybe

perspective. that So good pretty market from

know one And think in then talks to market one there, the data competitors FRP being most Yes, X%, with that don't felt could agree your that, currency business. know sources the about that but beat that’s different numbers I me quarter. in constant by market FRP fourth of was flat points. there's if helpful. your I the I of nine you the that out

or that to private outperformance? some benefits of the else kind that Does Larry about label how was think speak to about asking of that

up lot. a was flat don't was the I market the but not believe Yes, market

good stuff when you're things We growth toric Avaira product getting magnitude have, the like but have kind rates the being that's our in are nice range a driving of and multifocal you big a that that from product extended of sphere growing good and a ends really growth. pretty from and and the extended that Vitality, add out an I the mean marketplace, is lot Biofinity we of that the and on torics a because like at look up Biofinity you part really taking offering, definitely share product space. of just A product

price going brands a put probably is bit more little probably that that And put to a lens focus more together, contact now and of that's bit And it then that these lot for that really are I out we’ll some point under you retailers, Yes, on. together there, store little focusing monthly you beneficial they're for franchise a when frankly, all price think a entire it be and good to us. point continue wear. of

So economy move to going to perfectly that the anything not believe direction, just likelihood little -- surprisingly, the Biofinity move things more placed is towards see believe and towards you if to store more brands, product in monthly continue that. you're and for if going then like a you bit is probably a is a

Thank you.

next please from Our the comes line proceed. question of Anthony Securities, Petrone from Mizuho

the wanted thanks. of in kind progress Anthony. Appreciate about and for growth of on quarter track Great, where is sounds was see Brian you're myopia just kind taking you're strong I call on wanted the basis there? track where on here. just where on Zarahn you're, you're of where management to like seeing your It the to hear This kind MiSight. the

speak, Sure. China. really Yes, wouldn't so solid, I ran Myopia to management say was, we where I was in would this is it say, That's The was strong, difficulty. reason quarter.

my they're control whether rolling or expanding and those had accounts key China, big whether if out good retailers got and their a it's quarter, we're is we're momentum, of So good you're active and offerings, more big it more outside more practices. and we we've it's site myopia getting really product, seeing on MiSight Ortho-K

to respect going well, MiSight. things with fairly So

that China, negative has now Again, say I quarter, challenge that was space. in And market returned. this clear, that the just we the would within frankly, had one

upside But lot don't if see we expectations see built So a that. to hopefully, return, have we'll into some We does from that. around start that. it our

wanted And on of any bit there any on just not God, much little options the Medical that's this strategic that. Appreciate across kind one. Cook on that deal understand can just line, additional it switching of can is that. to probably But that hear was provide gears that you if a little or questions. I the helpful. there say a real But to get update you contemplation goal the do just

of we've there's much implications which is right of than said, process can working regulatory kind a through just Yes, really now. add Brian, unfortunately, we're I There's what that other repeating there. lot not

alternatives, kind different see have have our this year. figure than I August can evaluating everything out. something to mentioned, we're we the later resolution we'll to if as on no table of that So And of

Piper next line Bednar, question of from proceed. the Our Sandler, from Jason please comes

is three about know any America about dynamics Good and afternoon. from questions period to of understand to help likely how Can that kicking of the if really volume really, there, the Thanks a congrats, nice products, us several the to best you talk the price is just we've years and you you new the easy? this or it's the Americas the much region is strength really you're really two start real function it. points some you're whether adjusted annual wanted X% different there I I in outside growth to talking maybe start their or an when fiscal comps COVID for seen a the and taking growth on in ‘XX. in of

your And your around least down you to really still follow haven't clarify embeds that Want the or some on up to prior guidance but cautiousness the some at portfolio, then softening within economy. trade consumer, maybe within questions. any seen

make I to that Just have want correct? sure all

one. me let that hit Yes, second

trade have at we time. really no, in marketplace not the to seen with anything So point softness down respect this a contact or in lens

and As even office retailers optometrists, work staffing continuing finding with and to of or we're workers that and to is there, buying U.S. around the enough optometrist respect the hear whether big getting Challenges in from having groups they're staffing a optometrist world. the to and matter out fact, some of including hours.

little just What sense. seen Brian I So that that to said, activity. yes, now, we to that some incorporate makes we're guidance, of are think a from that we our within in conservative spot haven't good be trying a

good really, On Alex a running the got some yes, our that quarter. that for on really people we just doing had great executing us Americas, really nice sales America now. is We've He's well. job. are a team business that

in while. So kind for of line with were market a we there grown

MyDay sorry, bit that loose starting of a into to getting forward. kind we're rolling, another is Energys going little Maybe be to and now shaking the market step get

to it's without too certainly don't I only one to can't want it. you good quarter, attach much So, first second one. a quarter But a have

So right in the step direction. a

said, typically label see point, points? that? two well no, how groups, delta relative questions. between to to talk and going you think in that. can are directionally, business appreciate three Maybe sales I about should that four Yes, private don't to maybe practices? I that in different into channels. bifurcate your growth about to earlier But you clarifying private just those point some As think another you'd much stronger the is the we one How follow-up

numbers, of kind getting called forth they're see right we're actually, that if if there branded will, customized now, did of little from our, tendency a are sales, optometrists a you so for success there's a seeing year, were even and in Yes, from bit out similar the in so right what will, brands that several direct to that to the products our but lot quarters forth. MyDay not a MyDay, now, we you strength more tied of lot and big And growth, all have I there. pretty difference, we a offices, probably solutions, last customer

highlight this wouldn't really at in I wouldn't I swing point direction So any from time, that. a in

Thank you.

line a comes next from proceed. KeyBanc. question from Our Mishan Matthew of Please

from? kind Thanks that's gross gross kind where efficiency, further for afternoon. that you. for margin for a we guess Could on Brian. questions. then Is should I And margin driver this is you operational good coming type about more year-over-year now? how elaborate Hey, of of of think taking my

consolidation my Yes, different be containment care term, some gross our OpEx I in margin going short including the region we're eye term, be cost going our several of more I that'll long region. other into our a for prepared but to the after We've gone initiatives, a specialty, activities, benefit. Africa, high core, growth, into and Europe that's benefit, within division mean, consolidating kind after of remarks, Eastern European East mentioned Middle our cryopreservation sub

efficiencies. better And so that'll drive some

little bit So, more currency gross it's implied our than I year-over-year, gross currency up still margin more anything our a constant guidance -- is Within probably play would from a on OpEx of than basis. margins guidance an in else. is say,

things And Al, could for pull the some is volume I some you extended Cooper been the for or ranges, enough of is you, kind something fair. may drive Or one your competitors ECP? back relevance is some that's of that that for higher kind guess, that but with the think not help parameters up share? like of increased did extended heard has, of I on of then have just to just we've add that Okay, that

that drive some extended toric it range, regular broader that us. ranges. out for share I would our gains think that ranges more be or for I And like it'll think I does Yeah, share they the the there. drive competitors of gains back term, toric longer pull kind on should even of us. some are range our some world, extended call in But of that,

very for differentiators your share think We of to the product one us But a for way long perspective, haven't that because packaging is a difficult new it's taken share the from really consistently time management distribution, wide we all labeling have forth. do and from just it so the those marketplace. and seen of production of manage take reasons portfolio, ranges, through yet, a that parameter the inventory activity and and breadth the is is all one I and our of lot much impact and fairly in

when more can environment. it just you get you those complex really As wide a creates SKU imagine, much ranges,

that We've So the a over at at we're years. pretty money that. invested of good lot

differentiator that's little in to to a I bit position continue of help think a share. us. put I gain As a us for us said, it'll And

big. to you thing. you something like that's way, of overdo because differentiate a you get in aren't those a anytime can said, good say And dollar But positive I one that would So, amounts that the wouldn't things. that's I

Thank you.

the JP next Our comes Robbie from of please line proceed. Morgan, question Marcus from

as the Oh, impact product quantify competitors the share quarter and at more you if chain gained have to thanks than the and start. to any different any world, Nice great. the of had around did you taking Maybe supply you to Al seem questions. issues you if think could lines? for all,

I don't think, frankly, very much.

issues want I like recent, don’t act supply some had around our the chain of relatively that own of competitors we've supply we chain, to have challenges haven't. around are had Some

to a they from be now. this at right could supply market come been to So upside start frankly, haven't provide very positive that results much that wouldn't this much I challenge, to we're enough continue and time. point put think do moving chain for hold I don't us, but on they it share reporting think I the really or there's long If challenges, in significant they

it. Got

have if thoughts Do you're is or we'll diluted closes know, might it it Cook if guidance. But know, accretive? you to of hopefully, the this through I maybe that by deal the accretive you you where might year. And the point, at like assuming would not assets? have you and Do great. any later divest look think on be either still be in in goes know it what it any as Okay,

would imagine, can to just time, At yeas, in I this upon If mean, I this you color to dependent But question. on give one. sell have price just sell point at I we what have we what I right, point, get could, that off Yes, as you can't we and can't would. highly for I answer what that off.

to at be think you if it's still dilutive deal point? Do do Okay. the this you'd going

enough details long that, on for that's and one. need that. the to be in I moving company. accretive Well, answer scenes parts would mean, just you what, guess I believer behind one Short get I'm sense There's on your it. term. to from don't to how know And refrain answering I that they need be into they that want make to accretive. that and they need I'll transactions, I a strategic,

right, Appreciate Thanks, All enough. fair it. Al.

line a comes question Saxon Needham. David from Please, next from proceed. of Our

buying the And starting called congrats forward out spend go thanks. Yes, for Maybe surgical, on you on quarter. PARAGARD some pricing. and

see wanted what underlying about you like, Just kind demand that PARAGARD? impact and if of looks talk to the with quantify could

to what about, about That QX talking we number I in this bit was pulled in from was on little had it. will a you hurdle, in PARAGARD, what we like And from a that. into had QX. a If put think positive for Yes, $X result probably quarter if more bigger that's million. in will, would that little be I here QX

which unit a you if to this a hard perspective, to I with will, by growth that time unit the with statements challenges I the And made to respect year. definitely OB/GYN think From getting flow respect IUD. stand would have marketplace. last There's we're quarter, going I still patient

for we're we one. price. some, right it's still kind now. conservative of we're I there. driven by So, driven it's by not on think I at wrong. I grow this kind I'm I'm year, units, hope But hope but that's think where too that being I of

And then got this you've happening contact lens Thanks. Okay, about expansion capacity year. some talked projects it.

an much. Just we and there to margin about the wondering if how give gross think impact this Thanks could you update should year. so

Brian have on impact on, an I a we improvement margins. this we'll spot of Yes, of won't see gross gross bit little much margins year, think in was

facilities, and talked busy. Rico now, at I the think gross in We for expansion in right I but our years. Costa about doing capacity if UK. Rica doing QX that And we've coming the Puerto In were started last busy. -- margins been more certainly potential I busy look got work we've we the last the expansion some quarter. expansion But in you if U.S. of year in year,

world. of capacity to a expansion. tied lot And now. expansion facilities there's around So We're doing of that's the right lot a

damn the long contact lenses growth good the term right mean, within are I dynamics now. industry pretty

like XX something mid-upper digit looking at I we're growth, for years or So that. think single

we capacity that. to to some need So support put

that doing you we're if of kind will. intelligently, So

of comment pricing it. single I mix. Got growth. on it's up that I unit by talk just if upper you of last had driven And a and growth. to down pure mid kind to flattish digit could follow guess, about about A lot

high you're and how So about much. much ask mix. Thanks units thinking growth, versus digit if mid so to single is just wanted that price of to

Yes, of I going the every this I world are. be talked and third trends XXXX, by world's where the somewhere well, But the myopic. quarter. current of year about a kind is the half today, around that's mean, myopic to

long are So time. out so need at And no for how a much and staring are to trends the screens are that And staring continue kids to and screens at the going and year that's macro going that's year all more correction. how in we and forth. much people visual saying people anyone And are know phone. surprise to on more

going of an percentage contact the want lenses. have and at the wears you're to visual day, end that So correction, of expansion need are going those a to of

anybody part for raising cover think of trying by costs are price, and and people correction speak part think price, for to that I cover to like price crazy, other going going visual don't materials are needing and see efficiencies is more any the see to price you our that any we're And say, gouge mean to up means we're of to stuff, because near drive raising that. not Certainly responsibility anybody's you contact to term in lenses. to here we're and are I raw raising So will us continue I'll because and, I not prices of but ourselves. all more going

the to pricing. day, you're the at going of see end But

mean at multifocal I higher by more look when better wearer fitting, when that's look the all and you fitting, So you kind pricing, drive you of better at more at base, products, to continue expansion that torics growth. all look of price when going activity, to and

from we the look back that be terms not rate. than ultimately I of of be And say in lens by X% more kind comfortable about So expansion XX year, grew, of a contact you let's that think, in talking of years I that certainly if could wares. if know, number would today, industry driven, half growth

much. so thanks Great,

Pasquale a from question line Chris proceed. next from comes Nephron. of Our Please

sky solid attention. a the came in solution at least you on unusual upside congrats curious management Al, last the relative high, guys. Is noise part And of more they lot numbers And Myopia a we the non-sky it you that anything the of quarter, at was of CooperVision least with there I core outside saw coming had lap all was and year lens out? really high that. before one get tough comp thanks. the our Yes, to segments portfolio,

silicones there. I say it's products the product. you our fast did and those in too they we But and anything unusual Clear because that obviously, out will are declining maybe we mentioned Pro as not within like our Avaira I'm was were. that areas strength, for interesting that there's have there, and there have of Biofinity sure daily products. there they're as not demand still out declining our like products older some all But Yes.

areas of talking the or don't discuss about we're demand, board anymore. we're in the of that some decent So seeing kind we across including highlight

of as SightGlass on we should Okay, milestones ’XX? then any be update And go through timing for next we thanks. looking there, what

take to and we're SightGlass, moving which work data, year still get later hopefully fourth we'll year, that. at this wood get do the have think back We're clinical at I in look work approval it FDAs that. on knock get and that through a the continuing off we'll on to there. that We hands

we're with about EssilorLuxotticaa, it bright the the what a as I happy know, really, you around that markets launched great product. several selling product, with And say in about great right we there products In the I now. venture would joint about. guess and that future excited meantime, I really world. We're that have a think team

thanks. Okay,

of from question Oppenheimer, next proceed. Lichtman the comes from please line Our Steven

ramp if specifically how is you're provide Any that you. on that on guys. was helpful? would wondering in the you what I you could hearing MiSight to relative customers? talk feedback from U.S. of any Thank color be Hi, can going, terms

trajectory. say the turned consistent we US, of escalating a where it's the solid, performance. same just it's up, old, Sure. strong, in point It's hit a all of good, hasn't I sudden, consistent a performance. kind here at faster and ratcheting higher would not It's good, it

number in that world. of a seeing we're around the markets And

we've utilizing here I buying that's groups use in which would And more I more is talking much seen, the you're product U.S. optometry good, of continue independent But sit specifically I what what to retailers starting today, than solid, it. does. that's higher say, getting incidences think Now, the markets the see. consistent I as to a if we're to lot have myopia performance. mean, market, the U.S. product, of evaluating going frankly, offices

certainly but up, it. inflection point, it We shoots down haven't hit will, if where on an have we you not slowed

solid, So I strong, consistent just say growth. good, would

about you on increased us expecting of this just if still But already. elevated guys investment the investment is Got it. are? still you update mentioned overall of Great. last year investments I talked line then those OpEx that an positives, And quarter, and this And quarter, think you this terms some consistent front? on in some could that what

products that supporting spots on you look around other the launches, we'll Sure, the it the whether we're of some whether no And campaigns yes. marketing launch it's out have I campaigns, at to we question Energys, continuing product. we're like products. roll those to the commercially a mean, I MyDay dollars investment continue or in infrastructure, we do business different have, product that. behind activity, based around product world, putting have multifocals, When obviously, be it mean, the on we promotional MyDay

that. continue do that. to I would and to say to QX continue that going we'll do we're we So, did in

think that hear within That's he's spearheaded driving about efficiencies Brian's business. different talked a story. our what of I that really

in our activities to that's on So have I efficiently businesses that's part business, that operating of of cutting great. that need we than or world, to business that's investment we've the And are of not growth that's like the driving today's our think more we And back do. about And a in do. past. matter something done

a that organization within relatively you a within tell newer efficient the growth. strong, focus will, but driving focus, can organization, this So if is you I focus maybe and

Got you, it. Thank Al.

question comes Paribas, BNP please proceed. Navann final Our from from Ty

first a me on term, And longer outlook is, do question Hi, addition and to price opportunities, foresee increases? XXXX? you your OB/GYN in. in in PARAGARD share of recovery market squeezing sustainable is what My thanks for volume

year. a OB/GYN mean, I people traffic roll on patient that about more there. we of improvements as office. there. I some conservative And be case that. lot haven't might Yes, concerned might this seen improvement I'm still through But than the I be seen think many the we But within We've

we in OB/GYN compete. not where that's the lot in true areas spaces. I'm absolutely but true all saying the That's of areas Now, a world, of on operate we those and

haven't IUD foot to that that true been where that's areas One levels the you volume seen flow, of And We being of this the return end the if I've at the year. the saying one just I market. at traffic, those hoping. day, flat unit be will, ends that up I was of think patient reasons PARAGARD that's in would relatively

So price. comes that growth from

But be that I hope I Again, upside. hope right see on traffic not would wrong because that. now, anticipating the we I'm that, certainly

if Thanks. I may. And maybe on one Cook,

you the year you'd Cook although acquisition? quickly So redirect if health total business this of in keep, could like woman's to M&A to required

could, to down there, from focus debt. is I a the mean, now, resolution to the I would right our capital and evaluate that is we on Cook capital of perspective, going obviously, out say I a transaction we're What debt. of it. right that, would come But say perspective Cook down that our a focus outside and majority on from now paying is transaction on paying

you. Thank

the now over would remarks. White, I closing turn to call for like to Al

you. joining for Great. call Thank everyone, your the and today. for Well, thank you, time

off I is on earlier, fiscal how this a good start exactly basis. we year As this mentioned wanted to

at QX good within growth So Surgical, to have well a upside Vision, good QX. growth to driving the good I positioned revenue earnings efficiencies and think company we're revenue at

quarterly So you. call. seeing forward I look quarter our conference guys to during to the next certainly you Thank and

This participation gentlemen. conclude now disconnect. thank your may does today's call for ladies, you Thank you You