(Reuters) – Cooper Companies on Thursday forecast its annual revenue below Wall Street expectations, after marginally missing estimates for quarterly revenue due to softer demand for contact lenses, sending its shares down 4.6% after the bell.
The contact lens maker expects its 2025 revenue to be in the range of $4.08 billion to $4.16 billion, which is below analysts’ average estimate of $4.19 billion, according to data compiled by LSEG.
The company saw some softness in mid-October, which carried over into the beginning of November, CEO Al White said in a call with analysts.
There was some softness in the U.S. market as well as in countries such as China, he added.
Peer Alcon cut its 2024 forecasts last month, after it faced pressure in its vision care division due to declines in contact lens care in international markets.
Cooper reported quarterly revenue of $1.02 billion, compared with estimates of $1.03 billion.
CooperVision, the company’s contact lens division, reported fourth-quarter sales of $676.4 million, while analysts on average were expecting $682.73 million.
Sales at the company’s surgical division, which provides a range of fertility and women’s care devices, rose 12% to $342 million in the quarter, but fell short of the estimates of $346.16 million.
Cooper expects its annual adjusted profit per share to be between $3.92 and $4.02, compared with estimates of $4.06.
On an adjusted basis, the company reported a quarterly profit of $1.04 per share, beating expectations of $1.
(Reporting by Sriparna Roy in Bengaluru; Editing by Shreya Biswas)