Teleflex (NYSE: TFX) reported Q4 EPS of $3.28, $0.06 better than the analyst estimate of $3.22. Revenue for the quarter came in at $681 million versus the consensus estimate of $679 million.

• Fourth Quarter 2019 Revenues of $681.0 million, up 6.1% Versus Prior Year Period; up 7.1% on a Constant Currency Basis
• Fourth Quarter 2019 GAAP Diluted EPS from Continuing Operations of $2.28, up 21.9% Versus Prior Year Period
• Fourth Quarter 2019 Adjusted Diluted EPS from Continuing Operations of $3.28, up 18.4% Versus Prior Year Period
• Full Year 2019 Revenues of $2.595 billion, up 6.0% Versus Prior Year; up 8.1% on a Constant Currency Basis
• Full Year 2019 GAAP Diluted EPS from Continuing Operations of $9.81, up 133.6% Versus Prior Year
• Full Year 2019 Adjusted Diluted EPS from Continuing Operations of $11.15, up 12.6% Versus Prior Year
• 2020 Guidance Range for GAAP Revenue Growth of between 6.5% and 7.5%
• 2020 Guidance Range for Constant Currency Revenue Growth of between 7.2% and 8.2%
• 2020 Guidance Range for GAAP Diluted EPS from Continuing Operations of between $7.70 and $7.85
• 2020 Guidance Range for Adjusted Diluted EPS from Continuing Operations of between $12.50 and $12.70, up between 12.1% and 13.9%

Liam Kelly, President and Chief Executive Officer, said, “The fourth quarter of 2019 capped an excellent year for Teleflex, as we once-again generated upper single-digit constant currency revenue growth, while also achieving the highest adjusted gross and operating margins in company history."

Mr. Kelly continued, "2019 was the first year of our three-year long-range plan, and I am pleased that during the first year we were able to exceed our constant currency revenue growth expectations. Additionally, during 2019 we were able to proactively pull-forward one-time investment spending that we expect will pay benefits in future years. Finally, we exited the year with gross and operating margins that provide us confidence in our ability to achieve our previously provided long-range targets."

Mr. Kelly concluded, "As we transition into the second year of our three-year long-range plan, we remain confident in our ability to generate significant constant currency revenue growth, margin expansion, and adjusted earnings per share growth. Lastly, I am pleased to announce the acquisition of privately-held IWG High Performance Conductors, Inc. (HPC), an industry-leading manufacturer of highly engineered minimally invasive medical solutions. The acquisition of HPC will expand our comprehensive OEM product portfolio by adding insulated wire and micro-diameter tubing components for medical devices including intra-cardiac mapping catheters, cerebral protection systems for TAVR procedures, and RF nerve ablation for pain management. We are quite excited to complete this acquisition, given its above-company average revenue growth and operating margin profile."

GUIDANCE:

Teleflex sees FY2020 EPS of $12.50-$12.70, versus the consensus of $12.68.

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