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| Information Source: Teleflex Incorporated |
| Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the first quarter ended March 30, 2025. |
| First quarter financial summary |
- Revenues of $700.7 million, down 5.0% compared to the prior year period; down 3.8% on an adjusted constant currency basis
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- GAAP diluted EPS from continuing operations of $2.07, compared to $0.33 in the prior year period
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- Adjusted diluted EPS from continuing operations of $2.91, compared to $3.21 in the prior year period
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| 2025 guidance summary |
- Raising GAAP revenue growth guidance range to 1.28% to 2.28%
Maintaining adjusted constant currency revenue growth guidance range of 1.00% to 2.00%
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- We expect an impact from tariffs of approximately $55 million in 2025, which will be recorded in cost of goods sold. We are currently evaluating mitigation strategies to reduce this exposure
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- Due to the assumption of currently enacted tariffs and separation and acquisition-related expenses, we are lowering GAAP EPS from the continuing operations guidance range to $6.51 to $6.91
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- Lowering adjusted diluted EPS from continuing operations guidance range to $13.20 to $13.60 due to the assumption of currently enacted tariffs, partially offset by the $300 million share repurchase, expense control, and a small benefit from foreign exchange.
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- Revised EPS guidance incorporates the completed $300 million accelerated share repurchase.
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| "Our performance for the first quarter was in line with our expectations", said Liam Kelly, Teleflex's Chairman, President and Chief Executive Officer. "Were it not for the impact of tariffs enacted since the issuance of our previous guidance, we project that our full-year results for 2025 would fall within our previously stated guidance ranges. We are evaluating strategies to mitigate our exposure to tariffs and remain highly focused on executing our plan for the year. Finally, in line with our disciplined capital allocation strategy, we completed our previously announced $300 million accelerated share repurchase on April 9, 2025.” |
| "On our last call, we announced our intended separation of Teleflex into two independent publicly traded companies, which we believe will enhance value for all Teleflex shareholders. As we expected, since announcing the intended separation, we have received significant third-party interest in acquiring NewCo. With the full support and oversight of the Board, management is continuing to actively explore all options for NewCo to maximise shareholder value, including evaluating the potential sale of NewCo in parallel with the potential spin transaction." |
| OTHER FINANCIAL HIGHLIGHTS |
- Depreciation expense, amortisation of intangible assets and deferred financing charges for the three months ended March 30, 2025, totalled $68.2 million compared to $66.9 million for the prior year period.
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- Total cash, cash equivalents and restricted cash equivalents at March 30, 20,25, were $317.5 million compared to $327.7 million at December 31, 2024.
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- Net accounts receivable at March 30, 2025 were $464.5 million compared to $459.5 million at December 31, 2024.
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- Inventories at March 30, 2025 were $644.0 million compared to $600.1 million at December 31, 2024.
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| 2025 OUTLOOK
The Company raised its full year 2025 revenue growth outlook on a GAAP basis to a range of 1.28% to 2.28% from a range of (0.35)% to 0.65%, reflecting our estimate of an approximately 0.17% negative impact of foreign exchange rate fluctuations as compared to our previous estimate of a 1.80% negative impact. On an adjusted constant currency basis, the Company maintained its full year 2025 revenue growth outlook of 1.00% to 2.00%. |
| The Company lowered its full year 2025 GAAP diluted earnings per share from continuing operations outlook to a range of $6.51 to $6.91 from a range of $8.85 to $9.25 due to the assumption of currently enacted tariffs and separation and acquisition-related expenses. The Company lowered its full year 2025 adjusted diluted earnings per share from continuing operations guidance to a range of $13.20 to $13.60 from a range of $13.95 to $14.35, representing a decrease of 5.8% to 2.9% year-over-year. The reduction in adjusted earnings per share is due to the assumption of currently announced tariffs, partially offset by the $300 million share repurchase, expense control, and a small benefit from foreign exchange. |
| OTHER FINANCIAL HIGHLIGHTS |
- Depreciation expense, amortisation of intangible assets and deferred financing charges for the three months ended March 30, 2025, totalled $68.2 million compared to $66.9 million for the prior year period.
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- Total cash, cash equivalents and restricted cash equivalents at March 30, 2025, were $317.5 million compared to $327.7 million at December 31, 2024.
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- Net accounts receivable at March 30, 2025 were $464.5 million compared to $459.5 million at December 31, 2024.
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- Inventories at March 30, 2025 were $644.0 million compared to $600.1 million at December 31, 2024.
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| 2025 OUTLOOK
The Company raised its full year 2025 revenue growth outlook on a GAAP basis to a range of 1.28% to 2.28% from a range of (0.35)% to 0.65%, reflecting our estimate of an approximately 0.17% negative impact of foreign exchange rate fluctuations as compared to our previous estimate of a 1.80% negative impact. On an adjusted constant currency basis, the Company maintained its full year 2025 revenue growth outlook of 1.00% to 2.00%. |
| The Company lowered its full year 2025 GAAP diluted earnings per share from continuing operations outlook to a range of $6.51 to $6.91 from a range of $8.85 to $9.25 due to the assumption of currently enacted tariffs and separation and acquisition-related expenses. The Company lowered its full year 2025 adjusted diluted earnings per share from continuing operations guidance to a range of $13.20 to $13.60 from a range of $13.95 to $14.35, representing a decrease of 5.8% to 2.9% year-over-year. The reduction in adjusted earnings per share is due to the assumption of currently announced tariffs, partially offset by the $300 million share repurchase, expense control, and a small benefit from foreign exchange. |
| For the full document, click the link below |
| Teleflex Incorporated |
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