Teleflex (NYSE: TFX) reported Q3 EPS of $2.52, $0.11 better than the analyst estimate of $2.41. Revenue for the quarter came in at $609.7 million versus the consensus estimate of $608.61 million.

• Third Quarter Revenues of $609.7 million, up 14.0% Versus Prior Year Period; up 15.0% on Constant Currency Basis
• Third Quarter GAAP Diluted EPS of $1.21, down 28.8% Over the Prior Year Period
• Third Quarter Adjusted Diluted EPS of $2.52, up 18.9% Versus Prior Year Period
• Lowered 2018 Guidance Range for GAAP Revenue Growth from a range of between 14.0% and 15.0% to a range of between 13.5% and 14.5%
• Reaffirmed 2018 Guidance Range for Constant Currency Revenue Growth of between 12% and 13%
• Lowered 2018 Guidance for GAAP Diluted EPS from a range of between $4.60 and $4.70 to a range of between $4.00 and $4.10
• Raised 2018 Guidance Range for Adjusted Diluted EPS from a range of between $9.70 and $9.90 to a range of between $9.80 and $9.95

Liam Kelly, President and Chief Executive Officer, said, “I am pleased to report that Teleflex delivered a solid third quarter, with constant currency revenue growth and adjusted earnings per share achievement that exceeded our internal expectations.”

Added Mr. Kelly, “During the third quarter of 2018, we saw strong execution across our strategic business units, an expected rebound in distributor orders and the resolution of certain supply constraints that negatively impacted the second quarter revenues. Turning to Interventional Urology, UroLift continued its strong momentum, delivering $49.0 million in revenue for the quarter, which is an increase of approximately 45% over the prior year period. UroLift was also the subject of five real world studies presented at the World Congress of Endourology; with the data from these studies demonstrating that the clinical and quality of life benefits in the real world were consistent with the five-year LIFT study.”

In closing, Mr. Kelly stated, “Our performance in the third quarter gives us increased confidence in our full year revenue growth projections, and we continue to estimate that full year 2018 constant currency revenue growth will be between 12% and 13%. Additionally, despite continued volatility in foreign exchange rates, we are raising our previously provided full year adjusted diluted earnings per share guidance from a range of between $9.70 and $9.90 to a range of between $9.80 and $9.95.”

GUIDANCE:

Teleflex sees FY2018 EPS of $9.80-$9.95, versus the consensus of $9.81.

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