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Mar 28, 2021
Teleflex Q1 2021 Earnings Report
Teleflex's Q1 2021 revenues increased slightly, with adjusted EPS exceeding expectations, but GAAP EPS decreased due to various adjustments.
Key Takeaways
Teleflex reported a slight increase in revenue for Q1 2021, driven by strong performance in the Americas and Asia. Adjusted EPS exceeded expectations due to higher gross and operating margins. The company raised its full-year revenue and adjusted EPS guidance.
Q1 2021 revenues increased by 0.5% year-over-year to $633.9 million.
GAAP diluted EPS from continuing operations decreased 43.2% to $1.58.
Adjusted diluted EPS from continuing operations increased 5.5% to $2.87.
Full year 2021 revenue and adjusted EPS guidance raised.
Teleflex
Teleflex
Teleflex Revenue by Segment
Teleflex Revenue by Geographic Location
Revenue by Segment
Americas Segment Revenue
CapyFin.comEMEA Segment Revenue
CapyFin.comAsia Segment Revenue
CapyFin.comRevenue by Geographic Location
Vascular Access Revenue
CapyFin.comInterventional Revenue
CapyFin.comAnesthesia Revenue
CapyFin.comSurgical Revenue
CapyFin.comInterventional Urology Revenue
CapyFin.comOEM Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Teleflex raised its full year 2021 GAAP revenue growth estimates from a range of between 10.0% and 11.5% over 2020, to a range of between 10.50% and 11.75% over 2020, reflecting our estimate of an approximately 2% favorable impact of foreign currency exchange rate fluctuations. On a constant currency basis, the Company raised its full year 2021 revenue growth estimates from a range of between 8.0% and 9.5% over 2020, to a range of between 8.50% and 9.75% over 2020. The Company lowered its full year 2021 GAAP diluted earnings per share from continuing operations from a range of between $8.15 and $8.25 to a range of between $8.00 and $8.10. The Company raised its full year 2021 adjusted diluted earnings per share from continuing operations from a range of between $12.50 and $12.70 to a range of between $12.65 and $12.85.
Positive Outlook
- Full year 2021 GAAP revenue growth estimates raised to a range of between 10.50% and 11.75%.
- Full year 2021 constant currency revenue growth estimates raised to a range of between 8.50% and 9.75%.
- Full year 2021 revenue growth estimate of 30% associated with its Interventional Urology business reaffirmed.
- Full year 2021 adjusted diluted earnings per share from continuing operations raised to a range of between $12.65 and $12.85.
- Forecasted 2021 GAAP revenue growth: 10.50%-11.75%
Challenges Ahead
- Full year 2021 GAAP diluted earnings per share from continuing operations lowered from a range of between $8.15 and $8.25 to a range of between $8.00 and $8.10.
- Adverse economic conditions associated with the COVID-19 global health pandemic and the associated financial crisis.
- Changes in business relationships with and purchases by or from major customers or suppliers.
- Delays or cancellations in shipments.
- Demand for and market acceptance of new and existing products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income