Teleflex (NYSE: TFX) reported Q1 EPS of $2.87, $0.45 better than the analyst estimate of $2.42. Revenue for the quarter came in at $633.9 million versus the consensus estimate of $626.25 million.

• First quarter 2021 revenues of $633.9 million, up 0.5% versus prior year period on an as-reported basis; down 2.6% on a constant currency basis
• First quarter 2021 GAAP diluted EPS from continuing operations of $1.58, compared to $2.78 in the prior year period
• First quarter 2021 adjusted diluted EPS from continuing operations of $2.87, up 5.5% versus prior year period
• Raises 2021 guidance range for GAAP revenue growth from a range of between 10.0% and 11.5% to a range of between 10.50% and 11.75%
• Raises 2021 guidance range for constant currency revenue growth from a range of between 8.0% and 9.5% to a range of between 8.50% and 9.75%
• Lowers 2021 guidance range for GAAP diluted EPS from continuing operations from a range of between $8.15 and $8.25 to a range of between $8.00 and $8.10
• Raises 2021 guidance range for adjusted diluted EPS from continuing operations from a range of between $12.50 and $12.70 to a range of between $12.65 and $12.85
• Announces 2021 Restructuring Plan

GUIDANCE:

Teleflex sees FY2021 EPS of $12.50-$12.70, versus the consensus of $12.63.

The Company raised its full year 2021 GAAP revenue growth estimates from a range of between 10.0% and 11.5% over 2020, to a range of between 10.50% and 11.75% over 2020, reflecting our estimate of an approximately 2% favorable impact of foreign currency exchange rate fluctuations. On a constant currency basis, the Company raised its full year 2021 revenue growth estimates from a range of between 8.0% and 9.5% over 2020, to a range of between 8.50% and 9.75% over 2020. The Company reaffirmed its full year 2021 revenue growth estimate of 30% associated with its Interventional Urology business.

The Company lowered its full year 2021 GAAP diluted earnings per share from continuing operations from a range of between $8.15 and $8.25 to a range of between $8.00 and $8.10. The Company raised its full year 2021 adjusted diluted earnings per share from continuing operations from a range of between $12.50 and $12.70 to a range of between $12.65 and $12.85.

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