Teleflex (TFX) Tops Q1 EPS by 7c, Revenues Beat; Affirms FY19 EPS Mid-Point Guidance Below Consensus

Teleflex (NYSE: TFX) reported Q1 EPS of $2.24, $0.07 better than the analyst estimate of $2.17. Revenue for the quarter came in at $613.6 million versus the consensus estimate of $608.65 million.

• First Quarter Revenues from Continuing Operations of $613.6 million, up 4.5% versus Prior Year Period; up 7.6% on a Constant Currency Basis
• First Quarter GAAP Diluted EPS from Continuing Operations of $0.89, down 24.6% versus Prior Year Period
• First Quarter Adjusted Diluted EPS from Continuing Operations of $2.24, up 4.2% versus Prior Year Period
• Reaffirmed 2019 Guidance Range for GAAP Revenue Growth of between 5% and 6%
• Reaffirmed 2019 Guidance Range for Constant Currency Revenue Growth of between 6% and 7%
• Lowered 2019 Guidance Range for GAAP Diluted EPS from Continuing Operations from a range of between $6.90 and $7.05 to a range of between $6.72 and $6.84
• Reaffirmed 2019 Guidance Range for Adjusted Diluted EPS from Continuing Operations of between $10.90 and $11.10

Liam Kelly, President and Chief Executive Officer, said, “The first quarter of 2019 was an outstanding start to the year for Teleflex. We reported constant currency revenue growth of 7.6%, placing us in a strong position to achieve our full year constant currency revenuegrowth guidance range of between 6% and 7%. From a product perspective, our robust top line performance in the quarter was led by sales of our Interventional Urology, OEM, and Interventional products. While from a geographic standpoint, we achieved particularly strong growth within Asia and the Americas. In addition, during the quarter we continued to invest in driving the adoption of our high-growth, high-margin products, which puts us on track to deliver on both our near, and long-term, financial objectives.”

GUIDANCE:

Teleflex sees FY2019 EPS of $10.90-$11.10, versus the consensus of $11.03.

For earnings history and earnings-related data on Teleflex (TFX) click here.

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