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Teleflex
🇺🇸 NYSE:TFX
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Jun 30, 2024

Teleflex Q2 2024 Earnings Report

Teleflex's financial performance remained consistent with its strategic focus, driven by strong Barrigel revenue and Palette Life Sciences AB integration.

Key Takeaways

Teleflex reported a 0.9% increase in GAAP revenue to $749.7 million and an adjusted revenue increase of 2.7% to $763.5 million for Q2 2024. The company is raising its revenue and adjusted EPS guidance for the full year, alongside announcing a $500 million share repurchase program.

GAAP revenue reached $749.7 million, a 0.9% increase year-over-year.

Adjusted revenue was $763.5 million, up 2.7% year-over-year, or 3.4% on a constant currency basis.

GAAP diluted EPS from continuing operations was $1.69, compared to $2.35 in the prior year period.

Adjusted diluted EPS from continuing operations was $3.42, compared to $3.41 in the prior year period.

Total Revenue
$750M
Previous year: $743M
+0.9%
EPS
$3.42
Previous year: $3.41
+0.3%
Gross Profit
$416M
Previous year: $408M
+2.1%
Cash and Equivalents
$239M
Previous year: $251M
-4.9%
Free Cash Flow
$56.5M
Total Assets
$7.44B
Previous year: $6.9B
+7.9%

Teleflex

Teleflex

Teleflex Revenue by Segment

Teleflex Revenue by Geographic Location

Forward Guidance

Teleflex is raising its full year 2024 revenue growth outlook on an adjusted constant currency basis to a range of 4.25% to 5.25% year-over-year. The company is also raising its full year 2024 adjusted diluted earnings per share from continuing operations guidance to a range of $13.80 to $14.20.

Positive Outlook

  • Raising GAAP revenue growth guidance range to 3.40% to 4.40%.
  • Raising adjusted constant currency revenue growth guidance range to 4.25% to 5.25%.
  • Raising adjusted diluted EPS from continuing operations guidance range to $13.80 to $14.20.
  • Board of Directors has authorized a share repurchase program for up to $500 million of our common stock, inclusive of a $200 million accelerated share repurchase.
  • The Teleflex Board of Directors and Management remain confident in the company’s long-term growth profile and ability to create significant shareholder value.

Challenges Ahead

  • Lowering GAAP EPS from continuing operations guidance range to $6.43 to $6.83.
  • Estimated impact of foreign currency exchange rate fluctuations (0.40)%.
  • Italian payback measure (0.45)%.
  • Actual results could differ materially from those in the forward-looking statements due to delays or cancellations in shipments.
  • The share repurchase program does not require the Company to repurchase shares of its Common Stock and it may be discontinued, suspended or amended at any time, without prior notice.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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