Teleflex Vascular Intervention Investor Meeting Summary Industry and Company Overview - The conference call focused on the vascular intervention business acquired by Teleflex from BIOTRONIK on June 30 of the current year [2][4] - Teleflex aims to grow its interventional business by leveraging the complementary portfolios of both companies, enhancing its offerings in coronary and peripheral vascular domains [6][12] Key Points and Arguments Growth Drivers and Market Trends - The global incidence of coronary heart disease is projected to reach 67.3 million by 2050, an increase of 116%, with prevalence estimated at 510 million, a rise of 80% [8] - Peripheral vascular disease incidence is expected to increase by 220% by 2050, reaching 360 million, driven by metabolic diseases, particularly diabetes [8] - The demand for advanced treatment options is expected to grow due to the increasing complexity and severity of coronary and peripheral vascular diseases [9] Product Portfolio and Innovation - Teleflex's vascular intervention portfolio includes drug-eluting stents (DES), drug-coated balloons (DCB), and resorbable magnesium scaffolds (RMS), allowing for a comprehensive approach to patient care [57][58] - The Orsiro Mission drug-eluting stent is highlighted as a benchmark for performance, with plans to expand its offering to larger diameters and long-length applications [19][20] - The FreeSolve RMS technology is positioned as a leading solution in the market, providing the benefits of a drug-eluting stent while being absorbed by the body within 12 months [15][22] Strategic Direction - Teleflex is focused on geographical expansion and increasing its presence in the vascular intervention market, with a particular emphasis on the U.S. market [17][58] - The company plans to enhance its commercial infrastructure and customer engagement through a combined sales force, which is expected to expand by approximately 50% in North America [18][59] - The integration of the vascular intervention business is on track, with a focus on achieving strong growth over the next 12-18 months [60] Additional Important Insights - The shift towards a "leave-nothing-behind" philosophy in coronary artery therapy is gaining traction, with increasing use of drug-coated balloons due to positive clinical evidence [14][43] - The PK Papyrus covered coronary stent is recognized as a transformative tool for managing coronary dissections and perforations, emphasizing the need for effective solutions in complex PCI cases [54][55] - The vascular intervention business generates approximately half of its revenues in EMEA, balancing Teleflex's geographic revenue mix [58] Conclusion - The acquisition of the vascular intervention business is seen as a strategic fit for Teleflex, enhancing its product offerings and market reach in the growing vascular intervention segment [57][60] - The company is optimistic about future growth driven by innovation, expanded product offerings, and a strengthened commercial presence in key markets [58][59]

Teleflex Incorporated Vascular Intervention Investor Call November 14, 2025 Conference Call Logistics The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) An audio replay of the call will be available beginning at 11:00 am Eastern Time on November 14, 2025 either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S.) or 1 609 800 9909 (all other locations). The confirmation code is 61210. Today's Speake ...

Group 1 - Teleflex Incorporated will present at the Jefferies Global Healthcare Conference in London on November 18, 2025, at 10:00 a.m. GMT [1] - A live audio webcast of the presentation will be accessible on the investor section of the Teleflex website [1] Group 2 - Teleflex is a global provider of medical technologies focused on improving health and quality of life [2] - The company aims to be the most trusted partner in healthcare, offering a diverse portfolio in various therapy areas including anesthesia, emergency medicine, interventional cardiology, radiology, surgical, vascular access, and urology [2] - Teleflex believes in the potential of people, purpose-driven innovation, and world-class products to shape the future of healthcare [2] Group 3 - Teleflex is home to several trusted brands including Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™, Rüsch™, UroLift™, and Weck™, all united by a common purpose [3] - The company emphasizes its commitment to empowering the future of healthcare [3]

Core Insights - Teleflex Incorporated (TFX) reported third-quarter 2025 adjusted earnings per share (EPS) of $3.67, reflecting a 5.2% increase year-over-year and exceeding the Zacks Consensus Estimate by 8.6% [1][8] - The company experienced a significant revenue growth of 19.4% year-over-year, reaching $913 million, which also surpassed the Zacks Consensus Estimate by 2% [2][8] - Despite strong financial results, Teleflex lowered its 2025 guidance, impacting investor sentiment negatively [8][14] Revenue Breakdown - Net revenues in the Americas segment were $555.9 million, a 7.8% increase from the previous year, but below the projected $588.6 million [3] - EMEA segment revenues surged by 55.9% year-over-year to $234.2 million, significantly exceeding the expected $162.6 million [3] - Asia Pacific revenues rose by 25% to $122.9 million, falling short of the projected $142.1 million [4] Product Revenue Analysis - The Vascular Access segment generated $191 million in net revenues, up 5.6% year-over-year, surpassing the projection of $187.1 million [5] - The Interventional business saw a remarkable 77.8% increase in net revenues to $266.4 million, exceeding the expected $260.3 million [5] - The Anesthesia segment's revenues increased slightly by 0.4% to $101.4 million, above the projected $96.9 million [5] - The Surgical segment reported $122.9 million in revenues, a 10% increase year-over-year, surpassing the projection of $114.6 million [6] - Interventional Urology revenues decreased by 13.9% to $71.8 million, below the expected $76.9 million [6] - OEM revenues declined by 2.6% to $80.4 million, slightly below the projection of $81 million [6] - The Other product segment's revenues increased by 44.4% to $79.1 million, exceeding the projection of $76.4 million [7] Margin Performance - Gross profit was $451.6 million, a 5% increase year-over-year, but the gross margin contracted by 681 basis points to 49.5% due to a 38% rise in the cost of goods sold [9] - Adjusted operating profit decreased by 21.9% to $112.7 million, with the adjusted operating margin contracting by 652 basis points to 12.3% [9] Liquidity Position - Teleflex ended Q3 2025 with cash and cash equivalents of $354 million, up from $253.7 million at the end of Q2 [10] - Net cash flow from operating activities was $189 million, down from $435.6 million in the same period last year [10] Guidance Update - The company now expects GAAP revenue growth for 2025 to be in the range of 9.10-9.60%, down from the previous guidance of 9.00-10.00% [11] - Adjusted EPS from continuing operations is now anticipated to be between $14.00 and $14.20, reduced from the prior guidance of $13.90-$14.30 [12] Strategic Developments - Teleflex completed the acquisition of substantially all of the Vascular Intervention business from BIOTRONIK SE & Co. KG, enhancing its portfolio and global presence in the cath lab [14]

Core Insights - Teleflex Incorporated reported better-than-expected earnings for Q3, with earnings per share (EPS) of $3.67, surpassing the analyst consensus estimate of $3.38 [1] - The company achieved quarterly sales of $913.021 million, exceeding the analyst consensus estimate of $892.777 million [1] - Teleflex revised its FY2025 GAAP EPS guidance down from a range of $6.73-$7.13 to $(4.42)-$(4.22) [1] Performance Commentary - The company executed well in Q3, delivering adjusted operating margin and EPS above expectations, with revenue at the midpoint of guidance, despite lower than expected order rates in the intra-aortic balloon pump portfolio [2] - Following the earnings announcement, Teleflex shares increased by 0.5%, trading at $109.07 [2] Analyst Reactions - Wells Fargo analyst Larry Biegelsen maintained an Equal-Weight rating on Teleflex and lowered the price target from $131 to $114 [4] - RBC Capital analyst Shagun Singh maintained a Sector Perform rating and reduced the price target from $135 to $120 [4]

Core Insights - Teleflex's shares fell 15.5% following disappointing earnings, with a significant decline in operating margin to negative 44.8% from positive 19.5% year-over-year, indicating expenses outpaced revenue growth [1] - The company's free cash flow margin also decreased sharply to 8.5% from 27.5% in the same quarter last year, raising investor concerns despite beating headline estimates and maintaining full-year adjusted earnings guidance [1] Financial Performance - The operating margin dropped by 64.3 percentage points, highlighting a severe deterioration in profitability [1] - Free cash flow margin fell by 19 percentage points, reflecting weakened cash generation capabilities [1] Stock Performance - Teleflex's stock has decreased by 39.9% year-to-date, trading at $107.55, which is 46.7% below its 52-week high of $201.92 [5] - Historical performance shows that an investment of $1,000 in Teleflex shares five years ago would now be worth $320.15, indicating significant long-term value erosion [5] Market Reaction - The stock's movement is relatively stable, with only four instances of greater than 5% changes in the past year, suggesting that this recent news has notably affected market perception [3] - The last significant stock movement occurred 27 days prior, linked to broader market concerns over trade relations with China, which also contributed to volatility in the sector [4]

Financial Data and Key Metrics Changes - Third quarter revenues were $913 million, an increase of 19.4% year over year on a GAAP basis [8] - Adjusted revenues for the third quarter were $892.9 million, up 16.8% year over year, and up 15.3% on an adjusted constant currency basis [9] - Adjusted earnings per share were $3.67, a 5.2% increase year over year [19] Business Line Data and Key Metrics Changes - Vascular access revenue increased 4.3% year over year to $191 million [11] - Interventional revenue was $266.4 million, an increase of 76.4%, with a 9% increase excluding the impact of the vascular intervention acquisition [12] - Anesthesia revenue decreased 1.4% to $101.4 million, while surgical revenue increased 8.8% to $122.9 million [13][14] - Interventional urology revenue decreased 14.1% to $71.8 million [15] Market Data and Key Metrics Changes - Americas revenues were $555.9 million, a 7.5% increase year over year [10] - EMEA revenues were $214.1 million, a 34.4% increase year over year [10] - Asia revenues were $122.9 million, a 25.3% increase year over year [11] Company Strategy and Development Direction - The company is focused on separating into two independent companies, Remainco and Newco, to enhance value creation [4] - The separation aims to create optimized portfolios with tailored capital allocation strategies [5] - The company is prioritizing the potential sale of Newco, with healthy interest from buyers [4][27] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational execution and strategic objectives, despite challenges in certain product lines [26] - The company anticipates a positive impact from foreign exchange and has updated its financial guidance for 2025 [22][23] - Adjusted revenue growth for 2025 is now expected to be in the range of 8%-8.5% [23] Other Important Information - The Italian payback measure resulted in a $23.7 million decrease in reserves, positively impacting EMEA revenue [6] - The integration of the acquired vascular intervention business is on track, with restructuring activities expected to be completed by the end of 2028 [16] Q&A Session Summary Question: Can you elaborate on the balloon pumps in China? - Management noted a $9 million stocking order driven by market expansion and tariff-related purchasing behavior [28][30] Question: Is the spin-off off the table? - Management confirmed that while a spin-off remains a potential strategy, the focus is currently on maximizing shareholder value through a sale of Newco [33][34] Question: What is the dollar amount of the fourth quarter revenue guidance? - The implied Q4 revenue guidance is $930 million-$945.6 million, reflecting a 14%-15.8% constant currency growth [36] Question: How is employee retention in the Biotronik vascular business? - Integration is going well, with strong employee retention and no loss of senior leadership [49]

Core Viewpoint - Teleflex (TFX) reported quarterly earnings of $3.67 per share, exceeding the Zacks Consensus Estimate of $3.38 per share, and showing an increase from $3.49 per share a year ago, representing an earnings surprise of +8.58% [1][2] Financial Performance - The company achieved revenues of $913.02 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.18%, and up from $764.38 million year-over-year [2] - Over the last four quarters, Teleflex has consistently surpassed consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance and Outlook - Teleflex shares have declined approximately 29.9% since the beginning of the year, contrasting with the S&P 500's gain of 15.6% [3] - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $4.04 for the upcoming quarter and $14.04 for the current fiscal year [7] Industry Context - The Medical - Instruments industry, to which Teleflex belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Teleflex's stock performance [5][6]

Conference Call Logistics Teleflex Incorporated Third Quarter 2025 Earnings Conference Call 11/6/2025 The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) An audio replay of the call will be available beginning at 11:00 am Eastern Time on November 6, 2025 either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S.) or 1 609 800 9909 (all other locations). The confirmation code is 69028. Today's Speaker ...

Financial Performance - GAAP revenue for Q3 2025 was $913.0 million, representing a 19.4% increase compared to the prior year period[6] - Adjusted revenue for Q3 2025 was $892.9 million, up 16.8% year-over-year, and up 15.3% on an adjusted constant currency basis[6] - Consolidated adjusted revenue for the three months ended September 28, 2025, was $892.9 million, a 19.4% increase from $764.4 million in the prior year[49] - Consolidated revenue for the three months ended September 28, 2025, was $913.0 million, representing a 19.4% increase compared to $764.4 million in the same period last year[50] - For the nine months ended September 28, 2025, consolidated revenue was $2,394.6 million, a 6.3% increase from $2,251.9 million in the prior year[53][54] - The company reported a 6.3% increase in consolidated revenue for the nine months ended September 28, 2025, totaling $2,374.5 million[49] Earnings and Margins - Adjusted diluted EPS from continuing operations for Q3 2025 was $3.67, compared to $3.49 in the prior year period[6] - Adjusted gross margin improved to 57.3% for the three months ended September 28, 2025, compared to 60.8% in the same period last year[51][52] - The adjusted operating margin for the nine months ended September 28, 2025, was 24.9%, compared to 26.9% in the same period last year[53][54] - The effective income tax rate for the three months ended September 28, 2025, was 6.8%[51] Guidance and Projections - The company narrowed its full year 2025 GAAP revenue growth guidance to a range of 9.10% to 9.60%[6] - The company lowered its full year 2025 adjusted constant currency revenue growth guidance to 6.90% to 7.40%[6] Impairments and Charges - A non-cash goodwill impairment charge of $403.9 million was recognized for the Interventional Urology North America reporting unit due to market deterioration[20] - A non-cash impairment charge of $100 million was recognized for the Titan SGS asset group, driven by lower than expected sales growth[21] - The company recognized a goodwill impairment charge of $403,925 during the nine months ended September 28, 2025[70] - The company incurred restructuring charges of $117.6 million for the three months ended September 28, 2025, compared to $0.3 million in the same period of 2024[66] Segment Performance - EMEA segment reported revenue increased by 55.9% to $234.2 million, with an adjusted revenue of $214.1 million after a $20.1 million adjustment[49] - Americas segment revenue for the nine months ended September 28, 2025, was $1,557.3 million, reflecting a 2.1% increase from $1,525.5 million in the prior year[49] - EMEA segment adjusted revenue for the nine months ended September 28, 2025, was $531.5 million, a 20.7% increase compared to $456.9 million in the prior year[49] - The Interventional product category saw significant growth, with reported revenue of $266.4 million, a 77.8% increase from $149.9 million year-over-year[50] - The company experienced a decline in the Interventional Urology category, with revenue decreasing by 13.9% to $71.8 million from $83.4 million year-over-year[50] - The Other product category reported a 44.4% increase in revenue to $79.1 million, driven by adjustments related to the Italian payback measure[50] Cash Flow and Investments - Net cash provided by operating activities from continuing operations was $188,971, a decrease from $435,624 in the prior year[70] - Total cash used in investing activities from continuing operations was $826,782, significantly higher than $76,270 in the previous year[70] - Proceeds from new borrowings amounted to $1,140,000, compared to $130,000 in the same period last year[70] - The company repurchased common stock totaling $300,000, up from $200,000 in the prior year[70] - Cash, cash equivalents, and restricted cash equivalents at the end of the period were $381,310, an increase from $277,765 at the end of the previous year[70] Strategic Actions - The company continues to actively advance the process of a potential sale of NewCo, which has become a primary focus[5] - The integration plan for the Vascular Intervention Business is expected to incur restructuring costs of $36 to $44 million, with annual pre-tax savings projected at $24 million to $30 million once fully implemented[22][23] - The company is undergoing strategic actions to separate into RemainCo and NewCo, incurring direct costs related to consulting and legal services[39] Research and Development - Research and development expenses increased to $57.2 million for the three months ended September 28, 2025, up from $38.7 million in the same period of 2024, indicating a focus on innovation[66]