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Teleflex
🇺🇸 NYSE:TFX
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•
Dec 31, 2020

Teleflex Q4 2020 Earnings Report

Teleflex reported an increase in revenue and adjusted EPS decreased compared to the prior year period.

Key Takeaways

Teleflex Incorporated announced its financial results for the fourth quarter and full year ended December 31, 2020. The company's Q4 revenues reached $711.2 million, a 4.4% increase compared to the previous year. However, GAAP diluted EPS decreased by 28.9% to $1.62, and adjusted diluted EPS decreased by 0.9% to $3.25.

Q4 2020 revenues increased by 4.4% year-over-year to $711.2 million (up 2.3% on a constant currency basis).

Q4 2020 GAAP diluted EPS from continuing operations was $1.62, a decrease from $2.28 in the prior year period.

Q4 2020 adjusted diluted EPS from continuing operations was $3.25, a 0.9% decrease compared to $3.28 in the prior year period.

The company estimates that COVID-19 had a net negative impact of approximately $61 million, or 9% on Q4 2020 revenue.

Total Revenue
$711M
Previous year: $681M
+4.4%
EPS
$3.25
Previous year: $3.28
-0.9%
Gross Profit
$384M
Previous year: $398M
-3.7%
Cash and Equivalents
$376M
Previous year: $301M
+24.8%
Total Assets
$7.15B
Previous year: $6.31B
+13.4%

Teleflex

Teleflex

Teleflex Revenue by Segment

Teleflex Revenue by Geographic Location

Forward Guidance

Teleflex anticipates revenue growth between 10.0% and 11.5% on a GAAP basis and between 8.0% and 9.5% on a constant currency basis for the full year 2021. The company expects GAAP diluted earnings per share from continuing operations to be between $8.15 and $8.25. Adjusted diluted earnings per share from continuing operations are projected to be between $12.50 and $12.70.

Positive Outlook

  • Full year 2021 revenues are expected to increase between 10.0% and 11.5% over 2020 on a GAAP basis.
  • Constant currency revenues for full year 2021 are estimated to increase between 8.0% and 9.5% over 2020.
  • Full year 2021 GAAP diluted earnings per share from continuing operations are expected to be between $8.15 and $8.25.
  • Adjusted diluted earnings per share from continuing operations are projected to be between $12.50 and $12.70 for full year 2021.
  • Adjusted diluted EPS expected to increase of between 17.2% and 19.0% over 2020.

Challenges Ahead

  • Guidance is subject to risks and uncertainties.
  • Adverse economic conditions associated with the COVID-19 global health pandemic.
  • Changes in business relationships with major customers or suppliers.
  • Delays or cancellations in shipments.
  • Competitive market conditions and resulting effects on revenues and pricing.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Teleflex