Q3 2023 Earnings Summary
Reported on Jan 4, 2025 (Before Market Open)
Pre-Earnings Price$187.51Last close (Nov 1, 2023)
Post-Earnings Price$191.96Open (Nov 2, 2023)
Price Change
$4.45(+2.37%)
- Teleflex raised its 2023 constant currency revenue guidance to 6.4% to 6.6%, reflecting strong operational performance in Q3 and confidence in a strong finish to the year.
- The company has significant M&A capacity, with pro forma net leverage at 2.1x, allowing for potential acquisitions up to $2 billion, supporting future growth.
- Teleflex is achieving better-than-expected price increases, exceeding the 50 basis points target, which is positive for margins and sustainable through 2024.
- The Interventional Urology business, particularly UroLift, is facing ongoing challenges in the U.S. office setting, which "still remains a challenge."
- There is softness in bariatric surgery volumes due to the impact of GLP-1 drugs, and the company "continue[s] to expect some softness to bariatric surgery volumes."
- The company experienced a revenue impact of around $5 million in the quarter due to product recalls, which could potentially recur in the fourth quarter.
Research analysts covering TELEFLEX.