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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.
Revenue by Segment
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)%.
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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