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Teleflex
🇺🇸 NYSE:TFX
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Jun 27, 2021

Teleflex Q2 2021 Earnings Report

Teleflex reported an increase in revenue and adjusted EPS, driven by solid revenue growth and improved margins, despite challenges from COVID-19 and a respiratory divestiture.

Key Takeaways

Teleflex reported strong second-quarter results with a 25.8% increase in revenue to $713.5 million and adjusted EPS of $3.35, up 73.6% year-over-year. The company is maintaining its constant currency revenue guidance and raising its full-year adjusted earnings per share guidance, despite dilution from the respiratory asset sale.

Reported revenues increased by 25.8% year-over-year, reaching $713.5 million.

GAAP diluted EPS from continuing operations was $1.76, compared to $0.24 in the prior year period.

Adjusted diluted EPS from continuing operations rose to $3.35, a 73.6% increase year-over-year.

The company divested the majority of its respiratory assets on June 28, 2021.

Total Revenue
$713M
Previous year: $567M
+25.8%
EPS
$3.35
Previous year: $1.93
+73.6%
Gross Profit
$398M
Previous year: $278M
+42.8%
Cash and Equivalents
$362M
Previous year: $554M
-34.6%
Total Assets
$7.07B
Previous year: $6.77B
+4.5%

Teleflex

Teleflex

Teleflex Revenue by Segment

Teleflex Revenue by Geographic Location

Forward Guidance

Teleflex maintained its 2021 GAAP revenue growth guidance of 10.50% to 11.75% year-over-year and raised its 2021 GAAP diluted earnings per share from continuing operations to a range of $9.50 to $9.60. The company raised its 2021 adjusted diluted earnings per share from continuing operations to a range of $12.90 to $13.10.

Positive Outlook

  • Maintaining 2021 GAAP revenue growth guidance of 10.50% to 11.75% year-over-year.
  • Reaffirming 2021 revenue growth guidance of at least 30% year-over-year for the Interventional Urology business.
  • Raising 2021 GAAP diluted earnings per share from continuing operations to a range of $9.50 to $9.60.
  • Raising 2021 adjusted diluted earnings per share from continuing operations to a range of $12.90 to $13.10.
  • Maintaining 2021 constant currency revenue growth guidance range of 8.50% to 9.75% year-over year.

Challenges Ahead

  • Includes a $28 to $32 million headwind in the second half of 2021 from the respiratory divestiture.
  • GAAP and adjusted earnings per share reflect $0.10 to $0.15 dilution in the second half of 2021 from the respiratory divestiture.
  • Unspecified impact of COVID-19 on product lines and geographic segments.
  • Potential changes in business relationships with major customers or suppliers.
  • Possible delays or cancellations in shipments.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Teleflex