Teleflex Q4 Profit Beats Estimates; Issues 2023 Guidance

(RTTNews) - Teleflex Incorporated (TFX) reported fourth quarter adjusted EPS from continuing operations of $3.52, compared to $3.60 in the prior year period. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $3.44, for the quarter. Analysts' estimates typically exclude special items.

Income from continuing operations declined to $78.11 million from $127.46 million. EPS from continuing operations was $1.65, compared to $2.69.

Revenues were $758.0 million, down 0.5% compared to the prior year period, up 3.7% on a constant currency basis. Analysts on average had estimated $760.35 million in revenue.

On a GAAP basis, full year 2023 revenue growth outlook is expected to be 4.25% to 5.75%. On a constant currency basis, the company expects full year 2023 revenue growth of 4.75% to 6.25% year-over-year.

The company expects 2023 GAAP earnings per share from continuing operations of $8.26 to $8.86. The company expects adjusted earnings per share from continuing operations of $13.00 to $13.60.

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