Teleflex (TFX) Tops Q4 EPS by 20c, Revenues Beat; Offers FY21 EPS Outlook

Teleflex (NYSE: TFX) reported Q4 EPS of $3.25, $0.20 better than the analyst estimate of $3.05. Revenue for the quarter came in at $711.2 million versus the consensus estimate of $687.66 million.

• Fourth quarter 2020 revenues of $711.2 million, up 4.4% versus prior year period on an as-reported basis; up 2.3% on a constant currency basis
• Fourth quarter 2020 GAAP diluted EPS from continuing operations of $1.62, compared to $2.28 in the prior year period
• Fourth quarter 2020 adjusted diluted EPS from continuing operations of $3.25, down 0.9% versus prior year period

Liam Kelly, Chairman, President and Chief Executive Officer, said, “Due to the COVID-19 pandemic, 2020 was a difficult year for Teleflex. However, during the fourth quarter our business performed better than we expected, as trends continued to improve across many of our product categories and geographies."

Mr. Kelly continued, "In addition to the significant sequential improvement in our constant currency revenue performance that we experienced in the fourth quarter, I am also very pleased to see the continued sequential improvement that occurred in both our adjusted gross and adjusted operating margins, as we believe this positions us well to achieve our longer-term financial objectives."

Mr. Kelly concluded, "As we look forward to 2021, despite the ongoing COVID-19 pandemic, we remain confident in our diversified product portfolio and in our ability to deliver robust revenue growth, margin expansion and adjusted earnings growth, all while investing in our business to sustain our revenue growth and profitability profile over the long-term."

GUIDANCE:

Teleflex sees FY2021 EPS of $12.50-$12.70, versus the consensus of $12.61.

• 2021 guidance range for GAAP revenue growth of between 10.0% and 11.5%
• 2021 guidance range for constant currency revenue growth of between 8.0% and 9.5%
• 2021 guidance range for GAAP diluted EPS from continuing operations of between $8.15 and $8.25
• 2021 guidance range for adjusted diluted EPS from continuing operations of between $12.50 and $12.70

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

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• DTE Energy (DTE) Misses Q1 EPS by 17c
• Tractor Supply (TSCO) Tops Q1 EPS by 12c ; Offers Guidance