Teleflex(US:TFX)2023-05-06 18:22Q1 2023 Performance Highlights - Adjusted EPS for Q1 2023 was $3.09, a 7.3% increase year-over-year[36] - The company reiterated its 2023 adjusted earnings per share guidance of $13.00 to $13.60[36] - Q1 2023 constant currency revenue grew 13.2% year-over-year, which included five extra shipping days compared to the prior year period[54] - Q1 2023 adjusted gross margin increased 100 bps (1%) and adjusted operating margin improved 10 bps (0.1%) year-over-year[54] Revenue Growth - Teleflex's revenue increased 10.8% year-over-year on a GAAP basis[62] - Revenue increased 13.2% year-over-year on a constant currency basis[62] - Vascular Access revenue was $177.7 million, a 9.2% increase in constant currency[38] - Interventional revenue was $116.9 million, a 23.3% increase in constant currency[38] - Anesthesia revenue was $93.3 million, a 9.9% increase in constant currency[38] - Surgical revenue was $99.0 million, a 14.3% increase in constant currency[38] - OEM revenue was $77.0 million, a 34.5% increase in constant currency[38] Financial Guidance for 2023 - The company forecasts GAAP revenue growth between 4.65% and 5.90%[44] - The impact of foreign exchange rate fluctuations is estimated to be (0.35)%[44] - Constant currency revenue growth is projected to be between 5.00% and 6.25%[44] - Adjusted gross margin is expected to be between 59.00% and 59.50%[44] - Adjusted operating margin is forecasted to be between 26.00% and 26.75%[44] - Adjusted EPS is guided to be between $13.00 and $13.60, representing a growth of (0.5)% to 4.1%[44] Gross and Operating Margin - GAAP gross margin for Q1 2023 was 55.1% compared to 54.0% in the prior year period[43] - Adjusted gross margin for Q1 2023 was 59.4%, up 100 bps (1%) year-over-year[43] - GAAP operating margin was 16.2% vs 16.1% in prior year period[62] - Adjusted operating margin was 25.8%, up 10 bps (0.1%) year-over-year[62]