Teleflex Q4 2023 Earnings Report
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
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