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Financial Data and Key Metrics Changes - For Q2 2024, Teleflex reported revenues of $749.7 million, a 0.9% increase year-over-year on a GAAP basis. Adjusted revenues, excluding the Italian payback measure, were $763.5 million, up 2.7% year-over-year [7][8] - Adjusted earnings per share for the second quarter was $3.42, reflecting a 0.3% increase year-over-year [20][28] - Adjusted gross margin was 60.8%, a 180 basis point increase compared to the prior year [19][28] Business Line Data and Key Metrics Changes - Vascular access revenues increased 4.8% year-over-year to $181.1 million [10] - Interventional revenues rose 13.8% year-over-year to $141.2 million, driven by strong performance in various product lines [11] - Anesthesia revenues increased 2.3% year-over-year to $102.5 million [12] - Surgical business revenues grew 6.4% year-over-year to $111.3 million, with notable growth in instrumentation and chest drainage [12] - Interventional urology revenues increased 7.1% year-over-year to $83.1 million, driven by Barrigel revenue following the acquisition of Palette Life Sciences [12] Market Data and Key Metrics Changes - Americas revenues were $426.8 million, a 0.6% increase year-over-year [8] - EMEA revenues increased 9.8% year-over-year to $160.9 million, attributed to improved product availability and utilization [9] - Asia revenues were $87 million, a 4% increase year-over-year, impacted by a doctors' strike in South Korea [9] Company Strategy and Development Direction - The company is focusing on expanding its manufacturing capacity for intra-aortic balloon pumps and catheters to meet increased demand [15] - Teleflex is committed to a disciplined capital allocation strategy, including a $500 million share repurchase program while continuing to pursue M&A opportunities [22][23] - The acquisition of Palette Life Sciences is performing above expectations, with revenue guidance for Palette increased to $70 million to $72 million for 2024 [17][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential from intra-aortic balloon pumps, anticipating incremental revenue in Q4 2024 and into 2025 [25][30] - The company expects to see continued growth in Asia and is optimistic about maintaining market share in the intra-aortic balloon pump market [15][34] - Management highlighted the importance of innovation and product launches in driving future growth [30][54] Other Important Information - The company recognized a $15.8 million increase in reserves related to the Italian payback measure, impacting revenue within the EMEA segment [6][7] - Cash flow from operations for the first half of 2024 was $204.5 million, an increase from $170.6 million in the prior year [20] Q&A Session Summary Question: Update on Intra-Aortic Balloon Pumps - Management noted strong quote activity following FDA communications and expects significant market share gains in the coming quarters [33][34] Question: Margin Profile of Intra-Aortic Balloon Pumps - The margin profile for the initial pump sales is slightly dilutive, while subsequent catheter sales are expected to be accretive [37][66] Question: M&A Strategy and Share Buyback - Management clarified that the share repurchase program does not signal a shift away from M&A; both strategies will continue concurrently [36][61] Question: Interventional Urology Business Update - The interventional urology segment is expected to improve in the second half of the year, driven by the performance of Barrigel and the completion of sales rep training [49][56]

Teleflex Incorporated Second Quarter 2024 Earnings Conference Call 8/1/2024 Telefle Empowerin Conference Call Logistics | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) | | | | | | | An audio repla ...

Core Viewpoint - Teleflex reported a revenue of $749.69 million for the quarter ended June 2024, showing a year-over-year increase of 0.9% and an EPS of $3.42, slightly up from $3.41 a year ago, but below the Zacks Consensus Estimate of $763.39 million, resulting in a revenue surprise of -1.79% [1] Revenue Performance - Geographic Revenues in the Americas reached $426.80 million, slightly below the average estimate of $432.19 million, reflecting a year-over-year change of +0.5% [3] - Geographic Revenues in Asia totaled $87 million, marginally below the estimated $87.90 million, with a year-over-year increase of +0.4% [4] - Geographic Revenues in EMEA were reported at $147.10 million, significantly lower than the estimated $157.16 million, indicating a year-over-year decline of -0.5% [5] Segment Revenues - Net Revenues from Vascular Access were $181.10 million, close to the average estimate of $181.31 million, with a year-over-year increase of +4.2% [6] - Net Revenues from Interventional reached $141.20 million, exceeding the estimate of $137.89 million, marking a year-over-year growth of +13.1% [7] - Net Revenues from Anesthesia were reported at $102.50 million, slightly below the estimate of $104.01 million, with a year-over-year increase of +1.7% [8] - Revenues from OEM (Original Equipment Manufacturer and Development Services) were $88.80 million, surpassing the estimate of $88.27 million, reflecting a year-over-year increase of +5.6% [9] - Net Revenues from Interventional Urology were $83.10 million, slightly below the estimate of $83.48 million, with a year-over-year increase of +6.8% [10] - Net Revenues from Other segments were reported at $41.70 million, significantly below the estimate of $55.13 million, indicating a year-over-year decline of -45.1% [11] - Net Revenues from Surgical were $111.30 million, close to the estimate of $111.50 million, with a year-over-year increase of +5% [12] Stock Performance - Teleflex shares have returned +4.5% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change, and the stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [12]

Teleflex (TFX) came out with quarterly earnings of $3.42 per share, beating the Zacks Consensus Estimate of $3.33 per share. This compares to earnings of $3.41 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 2.70%. A quarter ago, it was expected that this medical equipment maker would post earnings of $3.07 per share when it actually produced earnings of $3.21, delivering a surprise of 4.56%. Over the last four quarters, the c ...

WAYNE, Pa., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE: TFX) announced today that its Board of Directors declared a quarterly cash dividend of thirty-four cents ($0.34) per share of common stock. The dividend is payable September 16, 2024, to shareholders of record at the close of business on August 15, 2024. About Teleflex Incorporated As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people's lives. Through our vision to ...

WAYNE, Pa., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE: TFX) announced today that its Board of Directors declared a quarterly cash dividend of thirty-four cents ($0.34) per share of common stock. The dividend is payable September 16, 2024, to shareholders of record at the close of business on August 15, 2024. About Teleflex Incorporated As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people's lives. Through our vision to ...

WAYNE, Pa., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE: TFX) (the "Company") today announced financial results for the second quarter ended June 30, 2024. Second quarter financial summary GAAP revenue of $749.7 million, up 0.9% compared to the prior year period Adjusted revenue of $763.5 million, excluding the impact from increases in our reserves related to the Italian payback measure pertaining to prior years, up 2.7% compared to the prior year period, up 3.4% on a constant currency bas ...

Core Viewpoint - Analysts project that Teleflex will report quarterly earnings of $3.33 per share, reflecting a decline of 2.4% year over year, with revenues expected to reach $763.39 million, an increase of 2.7% from the same quarter last year [10] Revenue Estimates - 'Net Revenues- Anesthesia' is estimated to be $104.01 million, indicating a change of +3.2% from the year-ago quarter [2] - 'Geographic Revenues- EMEA' is expected to be $157.16 million, showing a change of +6.3% from the year-ago quarter [3] - 'Net Revenues- Interventional Urology' is projected at $83.48 million, reflecting a change of +7.3% from the prior-year quarter [5] - 'Net Revenues- Surgical' is forecasted to reach $111.50 million, indicating a change of +5.2% from the prior-year quarter [6] - 'Revenues- OEM (Original Equipment Manufacturer and Development Services)' is estimated at $88.27 million, suggesting a change of +5% year over year [8] - 'Geographic Revenues- Americas' is likely to reach $432.19 million, indicating a change of +1.8% year over year [9] - 'Net Revenues- Interventional' is estimated at $137.89 million, reflecting a change of +10.5% year over year [11] - 'Net Revenues- Other' is projected to be $55.13 million, indicating a change of -27.5% year over year [12] - 'Net Revenues- Vascular Access' is expected to reach $181.31 million, showing a year-over-year change of +4.3% [14] - 'Geographic Revenues- Asia' is forecasted to be $87.90 million, indicating a change of +1.4% from the year-ago quarter [15] Earnings Estimate Revisions - Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter, indicating that analysts have not changed their initial forecasts during this period [4] Stock Performance - Teleflex shares have experienced a change of +5.4% in the past month, compared to a -0.4% move of the Zacks S&P 500 composite, with a Zacks Rank 3 (Hold) suggesting that TFX is expected to mirror overall market performance in the near future [7]

The Ringer™ PBC is a rapid-exchange 0.014" compatible catheter with a unique helical balloon at its working end. When inflated, this balloon approximates a hollow cylinder with a large central perfusion lumen. These characteristics allow for continuous coronary blood flow during prolonged inflations.2 The Ringer™ PBC is indicated for balloon dilatation of coronary artery or coronary bypass graft stenoses where the physician desires distal blood perfusion during balloon inflation for the purpose of improving ...