Teleflex(US:TFX)2025-05-01 11:00Financial Performance - Revenues for Q1 2025 were $700.7 million, a decrease of 5.0% compared to the prior year period, and down 3.8% on an adjusted constant currency basis[5] - Consolidated net revenue for the three months ended March 30, 2025, was $700.7 million, a decrease of 5.0% compared to $737.8 million for the same period in 2024[34] - Revenue from the Americas segment was $475.7 million, down 3.7% from $494.0 million year-over-year[34] - The EMEA segment reported revenue of $151.2 million, reflecting a 5.3% decline from $159.6 million in the prior year[34] - Asia's revenue decreased by 12.4%, from $84.2 million to $73.8 million[34] - The Vascular Access product category saw a slight increase in revenue of 0.6%, totaling $182.4 million compared to $181.4 million in the previous year[35] - The OEM product category experienced a significant decline of 27.2%, with revenue dropping from $87.7 million to $63.9 million[35] - Gross profit for the same period was $389,439,000, down 6.4% from $416,134,000 year-over-year[47] - The company reported a net income of $95,002,000 for the three months ended March 30, 2025, compared to $15,289,000 in the same period last year, reflecting a significant year-over-year increase[51] Earnings Per Share (EPS) - GAAP diluted EPS from continuing operations was $2.07, compared to $0.33 in the prior year period; adjusted diluted EPS was $2.91, down from $3.21[5] - Earnings per share (EPS) from continuing operations for the three months ended March 30, 2025, was $2.08, compared to $0.33 for the same period in 2024, representing a 530.3% increase[47] - The company lowered its full year 2025 GAAP diluted EPS guidance to a range of $6.51 to $6.91, down from $8.85 to $9.25[12] - Adjusted diluted EPS guidance was lowered to a range of $13.20 to $13.60, reflecting a decrease of 5.8% to 2.9% year-over-year[13] Guidance and Projections - The company raised its full year 2025 GAAP revenue growth guidance to a range of 1.28% to 2.28%[11] - The expected impact from tariffs in 2025 is approximately $55 million, which will be recorded in cost of goods sold[5] Cash and Assets - Total cash, cash equivalents, and restricted cash equivalents at March 30, 2025, were $317.5 million, down from $327.7 million at December 31, 2024[12] - Total current assets rose to $1,538,914,000 as of March 30, 2025, compared to $1,471,124,000 at the end of 2024, indicating a 4.6% increase[49] - Cash and cash equivalents at the end of the period were $317,478,000, down from $327,650,000 at the beginning of the period, a decrease of 0.5%[51] Liabilities - Total liabilities increased to $3,068,126,000 from $2,819,774,000, marking an 8.8% rise[49] Restructuring and Acquisitions - The company incurred $1.5 million in pre-tax restructuring charges and $5.4 million in restructuring-related charges for the three months ended March 30, 2025[44] - The company incurred restructuring charges of $4,755,000 during the quarter, compared to $2,659,000 in the prior year, indicating increased costs associated with restructuring efforts[47] - Teleflex is in the process of acquiring the Vascular Intervention business of BIOTRONIK SE & Co. KG, with associated acquisition costs of $4.5 million[44] Accounts Receivable and Inventory - Net accounts receivable increased to $464.5 million at March 30, 2025, compared to $459.5 million at December 31, 2024[12] - Inventories rose to $644.0 million at March 30, 2025, compared to $600.1 million at December 31, 2024[12] Gross Margin - The adjusted gross margin for the three months ended March 30, 2025, was 60.4%, compared to 61.1% for the same period in 2024[36][37]