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Jul 02, 2023
Teleflex Q2 2023 Earnings Report
Teleflex's second quarter performance reflected a diversified product portfolio and global execution.
Key Takeaways
Teleflex reported a 5.5% increase in revenues to $743.3 million and an adjusted diluted EPS of $3.41 for the second quarter ended July 2, 2023. The company is raising GAAP revenue growth guidance to 5.80% to 6.55% and maintaining adjusted diluted EPS from continuing operations guidance of $13.00 to $13.60.
Revenues increased by 5.5% to $743.3 million compared to the prior year period.
GAAP diluted EPS from continuing operations was $2.35, compared to $2.23 in the prior year period.
Adjusted diluted EPS from continuing operations was $3.41, compared to $3.39 in the prior year period.
The company is acquiring Palette Life Sciences AB to expand its Interventional Urology franchise.
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 increased its full year 2023 GAAP revenue growth outlook to 5.80% to 6.55%. The Company maintained its 2023 adjusted diluted earnings per share from continuing operations guidance of $13.00 to $13.60.
Positive Outlook
- Raising GAAP revenue growth guidance to 5.80% to 6.55%
- Raising the low end of constant currency revenue growth guidance to 5.50% to 6.25%
- Maintaining adjusted diluted EPS from continuing operations guidance of $13.00 to $13.60
- Global environment expected to remain stable during the second half of 2023.
- Acquisition of Palette Life Sciences AB expected to contribute meaningfully to growth in the coming years.
Challenges Ahead
- Lowering GAAP EPS from continuing operations guidance to $7.33 to $7.93
- Delays or cancellations in shipments
- Demand for and market acceptance of new and existing products
- Inability to integrate acquired businesses into operations
- Competitive market conditions and resulting effects on revenues and pricing
Revenue & Expenses
Visualization of income flow from segment revenue to net income