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Dec 31, 2021
Teleflex Q4 2021 Earnings Report
Teleflex reported solid fourth quarter and full year results driven by strong execution and a diversified product portfolio.
Key Takeaways
Teleflex Incorporated announced its Q4 2021 financial results, with reported revenues of $761.9 million, a 7.1% year-over-year increase, and adjusted diluted EPS of $3.60, up 10.8% year-over-year. The company provided 2022 guidance, including GAAP revenue growth expected to be 2.3% to 3.8% and adjusted diluted EPS from continuing operations of $13.70 to $14.30.
Reported revenues increased by 7.1% year-over-year to $761.9 million.
Constant currency revenue growth was 7.9%.
GAAP diluted EPS from continuing operations was $2.69, compared to $1.62 in the prior year period.
Adjusted diluted EPS from continuing operations increased by 10.8% year-over-year to $3.60.
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 provided its outlook for full year 2022, expecting GAAP revenue growth of 2.3% to 3.8% and adjusted diluted earnings per share of $13.70 to $14.30.
Positive Outlook
- GAAP revenue growth expected to be 2.3% to 3.8%.
- Constant currency revenue growth of 4.0% to 5.5% inclusive of a 1.6% headwind from the initial phase of the respiratory divestiture completed on June 28, 2021.
- GAAP diluted EPS from continuing operations of $8.90 to $9.50.
- Adjusted diluted EPS from continuing operations guidance range of $13.70 to $14.30 inclusive of an estimated $0.17 headwind from the respiratory divestiture.
- The company believes Teleflex remains well-positioned to drive durable growth and manage the challenges of the current environment.
Challenges Ahead
- GAAP revenue growth reflects an estimate of an approximately 1.7% negative impact of foreign exchange rate fluctuations.
- Constant currency revenue growth includes an approximately 1.6% year-over-year headwind from the initial phase of the respiratory divestiture completed on June 28, 2021.
- The divestiture of the respiratory assets is estimated to be dilutive to 2022 adjusted earnings per share by $0.17.
- Adverse economic conditions associated with the COVID-19 global health pandemic.
- Potential changes in business relationships with major customers or suppliers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income