Teleflex Reports First Quarter 2021 Results

Teleflex

WAYNE, PA — Teleflex Incorporated (NYSE: TFX) recently announced financial results for the first quarter ended March 28, 2021.

First quarter 2021 net revenues were $633.9 million, an increase of 0.5% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, first quarter 2021 net revenues decreased 2.6% over the year ago period.

First quarter 2021 GAAP earnings per share from continuing operations decreased 43.2% to $1.58, compared to $2.78 in the prior year period. First quarter 2021 adjusted diluted earnings per share from continuing operations increased 5.5% to $2.87, compared to $2.72 in the prior year period.

Liam Kelly, Chairman, President and Chief Executive Officer, said, “The first quarter of 2021 was a strong start to the year for Teleflex, one in which we exceeded our expectations for revenue, led by the performance of the Americas and Asia.”

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Mr. Kelly continued, “In addition to strong first quarter top-line performance, we generated the highest adjusted gross and operating margins since becoming a pure-play medical device company, resulting in an adjusted earnings per share amount of $2.87, which also exceeded expectations.”

Mr. Kelly concluded, “Based on our results for the first quarter, as well as our outlook for the remainder of the year, we are raising our full year constant currency revenue guidance range and our full year adjusted earnings per share guidance range.”

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