Teleflex Inc · Q3 2022 earnings

Briefing

Teleflex's financial performance reflected revenue contributions from high-growth portfolio and durable core, and the company continued to execute on its long-term strategic objectives, deploying capital to purchase Standard Bariatrics, Inc.

Teleflex reported third quarter revenues of $686.8 million, a decrease of 1.9% year-over-year, but an increase of 2.4% on a constant currency basis. GAAP diluted EPS from continuing operations was $2.16, while adjusted diluted EPS from continuing operations was $3.27.

• Revenues of $686.8 million, down 1.9% year-over-year; up 2.4% on a constant currency basis
• GAAP diluted EPS from continuing operations of $2.16, compared to $4.20 in the prior year period
• Adjusted diluted EPS from continuing operations of $3.27, compared to $3.51 in the prior year period
• Lowering adjusted diluted EPS from continuing operations guidance to $12.80 to $13.20 from $13.00 to $13.40 prior

Headline financials

Revenue & EPS history

Teleflex lowered its full year 2022 GAAP revenue growth outlook to (0.75)% to 0.25%. On a constant currency basis, the Company maintained its full year 2022 revenue growth guidance of 3.25% to 4.25%. The Company revised its full year 2022 GAAP diluted earnings per share from continuing operations outlook to $7.74 to $8.14 from $8.04 to $8.44. The Company lowered its 2022 adjusted diluted earnings per share from continuing operations guidance to $12.80 to $13.20 from $13.00 to $13.40.