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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.
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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