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Dec 31, 2023
Teleflex Q4 2023 Earnings Report
Teleflex reported mixed results with revenue up slightly and EPS down compared to the prior year period, while adjusted EPS decreased marginally. The company provided 2024 guidance, expecting revenue growth and a slight increase in adjusted EPS.
Key Takeaways
Teleflex reported a slight increase in revenue for Q4 2023, but GAAP EPS decreased significantly. Adjusted EPS also saw a minor decrease. The company's full-year revenue grew by 6.6%, and adjusted EPS increased. Teleflex provided 2024 guidance, anticipating revenue growth and a slight increase in adjusted EPS.
Q4 revenue increased by 2.1% year-over-year, or 0.7% on a constant currency basis.
GAAP diluted EPS from continuing operations decreased to $0.66, compared to $1.65 in the prior year period.
Adjusted diluted EPS from continuing operations was $3.38, compared to $3.52 in the prior year period.
Full year 2023 revenue grew by 6.6% year-over-year, or 6.5% on a constant currency basis.
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 expects full year 2024 revenue growth of 3.60% to 4.60% on a GAAP basis and 3.75% to 4.75% on a constant currency basis. GAAP diluted earnings per share from continuing operations are expected to be $5.69 to $6.09. Adjusted diluted earnings per share from continuing operations are projected to be $13.55 to $13.95.
Positive Outlook
- Full year 2024 revenue growth of 3.60% to 4.60% on a GAAP basis
- Full year 2024 constant currency revenue growth of 3.75% to 4.75%
- Full year 2024 GAAP diluted earnings per share from continuing operations of $5.69 to $6.09
- Full year 2024 adjusted diluted earnings per share from continuing operations of $13.55 to $13.95
Challenges Ahead
- Estimated impact of foreign currency exchange rate fluctuations is expected to be negative 0.15%
- GAAP diluted earnings per share from continuing operations is expected to decrease by 24.7% to 19.4%.
- Restructuring, restructuring related and impairment items, net of tax: $0.20
- Acquisition, integration and divestiture related items, net of tax: $0.34
- Pension termination and related charges, net of tax: $2.85
Revenue & Expenses
Visualization of income flow from segment revenue to net income