The Cooper Companies, Inc. (NYSE:COO) Q1 2023 Earnings Call Transcript

Page 4 of 10

Yes, that’s going to be beneficial for us. And that monthly price point is a really good price point for a lot of contact lens wear. So if you believe anything — if you believe the economy is going to move in that direction, then the likelihood is you’re going to see things continue to move more towards store brands, and probably not surprisingly, a little bit more towards a product like a monthly and Biofinity is just perfectly placed for that.

Jeff Johnson: Thank you.

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

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

Al White: Sure. Yes, Myopia management was, I would say, was solid, this quarter. The reason I wouldn’t say it was strong, so to speak, really is China. That’s where we ran in difficulty. So if you’re outside of China, whether it’s my site or whether it’s Ortho-K product, we had a really good quarter, and we’ve got good momentum, we’re expanding those offerings, we’re seeing MiSight and more big retailers and more big key accounts is they’re rolling it out and getting more active on their myopia control practices. So things going fairly well, with respect to MiSight. Again, I would say the one clear, negative within that space. And the challenge that we had this quarter, frankly, was in China, that market just has now returned. So if it does start to return, we’ll see some upside from that. We don’t have a lot built into our expectations around that. But hopefully, we see that.

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

Al White: Yes, Brian, unfortunately, there’s not really much I can add other than just kind of repeating what we’ve said, which is we’re working through that process right now. There’s a lot of regulatory implications there. So we’re evaluating our different alternatives, kind of have everything on the table to see if we can figure something out. And as I mentioned, we’ll have resolution to that no later than August of this year.

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

Jason Bednar: Good afternoon. Thanks for taking the questions and I likely to congrats, you’re on a real nice start to fiscal €˜23. I wanted to maybe start in the Americas that 9% growth and some of the best growth we’ve seen in the region in several years really outside of the COVID period when comps really easy? Can you talk about the dynamics there, and you help us understand how much you know this America strength is a function of whether it’s new products, or if the price there is any different from the two to three points you’re talking about their annual or an adjusted volume is really, really just kicking it. And then maybe to follow up on some prior questions. Want to clarify that you haven’t really seen any trade down or softening within the consumer, at least within your portfolio, but your guidance still embeds some cautiousness around the economy. Just want to make sure I have that all correct?

Page 4 of 10