WAYNE, PA — Teleflex Incorporated (NYSE: TFX) lowered its 2026 revenue outlook after integration of the acquired Biotronik Vascular Intervention business took longer than expected, even as second-quarter continuing-operations revenue rose 28.9% and the company increased adjusted earnings guidance following debt reduction and share repurchases.
Revenue from continuing operations reached $570.3 million for the quarter ended June 30, up 28.9% from a year earlier. On a pro forma adjusted constant-currency basis, which incorporates the acquired Vascular Intervention business in the comparison period and makes other specified adjustments, revenue increased 4.7%.
GAAP diluted earnings from continuing operations fell to $0.96 per share from $1.54 a year earlier. Adjusted diluted earnings increased to $1.76 per share from $1.73.
Teleflex reduced its full-year GAAP revenue growth forecast to 13.4% to 14.4% and lowered its pro forma adjusted constant-currency growth outlook to 3.5% to 4.5%.
The company attributed the revision in part to longer integration timelines for the Biotronik Vascular Intervention business. Chief Executive Officer Jason Weidman stated that the delay does not reflect the underlying product portfolio.
“Integration of the acquired Biotronik Vascular Intervention business is progressing, though taking longer than expected,” Weidman stated. “Importantly, the delay is attributable to elongated integration timelines and not the underlying product portfolio.”
Teleflex also reduced its GAAP diluted earnings forecast from continuing operations to $2.54 to $2.84 per share while increasing its adjusted diluted earnings outlook to $6.90 to $7.20 per share.
The revised outlook incorporates capital-allocation moves made during the year, including $250 million of second-quarter share repurchases and repayment of a roughly $700 million term loan.
Teleflex completed the sale of its OEM business to Montagu and Kohlberg for $1.5 billion in cash, generating estimated after-tax proceeds of approximately $1.25 billion.
The company used part of its capital resources to repay its $700 million Term Loan A-2, which had been associated with the acquisition of substantially all of Biotronik’s Vascular Intervention business.
Teleflex also repurchased 1.9 million shares during the second quarter for $250 million, paying an average of $130.85 per share. The purchases were made under a $1 billion repurchase program authorized by the board in December 2025.
At June 30, $750 million remained under that authorization. Teleflex plans to begin an additional $250 million accelerated share repurchase on Aug. 7.
The company also refinanced portions of its debt during the quarter. A new credit agreement provides a $1 billion revolving facility and a $500 million Term A-1 facility, both maturing in May 2031, along with the $700 million Term A-2 facility that has since been repaid.
Teleflex separately issued $500 million of 5.875% senior notes due 2032. Proceeds from the offering, together with cash on hand, were used to redeem all outstanding 4.625% senior notes due 2027.
The quarter also included developments in Teleflex’s medical-device pipeline.
In late July, the Food and Drug Administration approved EZPLAZ Freeze Dried Plasma, which Teleflex described as the first freeze-dried plasma licensed by the agency. The product is approved for transfusion in adults requiring replacement of plasma coagulation factors, including situations involving uncontrolled bleeding when other plasma products are unavailable.
Teleflex also advanced development of Freesolve, its drug-eluting resorbable magnesium scaffold. The company presented four-year follow-up data from the BIOMAG-I study, completed enrollment ahead of schedule in the BIOMAG-II trial and began the U.S. BIOMAG-III pivotal study, with the first patient procedures conducted in June at MedStar Washington Hospital Center.
Weidman, who recently assumed the chief executive role, stated that his priorities include tighter operating execution, development of the company’s innovation platforms and capital deployment.
“I am focused on completing a thorough assessment of the business and sharpening our strategic and operating plan to maximize shareholder value,” he stated.
At June 30, Teleflex held $316.9 million in cash, cash equivalents and restricted cash equivalents, down from $402.7 million at the end of 2025.
Net accounts receivable increased to $364.6 million from $345.6 million over the same period, while inventories declined to $351.9 million from $404.4 million.
Depreciation, intangible-asset amortization and deferred financing charges totaled $106.5 million during the first six months of 2026, compared with $77.2 million a year earlier.
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