WAYNE, PA — Teleflex Incorporated (NYSE: TFX) maintained its 2026 financial outlook after first-quarter revenue rose sharply following acquisitions, though the company posted a net loss from continuing operations amid restructuring and transformation efforts tied to planned divestitures.
Revenue from continuing operations increased 32.3% to $548.3 million for the quarter ended March 31. On a pro forma adjusted constant currency basis, revenue growth was 5.1%.
Teleflex reported a GAAP diluted loss from continuing operations of $0.11 per share, compared with earnings of $1.14 per share a year earlier. Adjusted diluted earnings per share from continuing operations declined slightly to $1.39 from $1.44.
The company reaffirmed full-year guidance, including expected GAAP revenue growth from continuing operations of 14.4% to 15.4% and adjusted diluted earnings per share between $6.25 and $6.55.
Teleflex said its guidance includes an estimated $90 million annual impact from stranded costs associated with planned divestitures of its Acute Care, Interventional Urology and OEM businesses.
The company expects those divestitures to close during the second half of 2026.
Interim President and Chief Executive Officer Stuart Randle said Teleflex plans to use most net proceeds from the transactions to fund a previously announced $1 billion share repurchase program while reducing debt by approximately $800 million.
“We continue to expect our two strategic divestitures to close in the second half of 2026,” Randle said.
The company also announced that Jason Weidman will become president and chief executive officer effective June 8, 2026.
Teleflex said it plans additional governance and capital allocation measures, including opportunistic open-market share repurchases and creation of a Growth and Operating Committee within the board structure.
Cash, cash equivalents and restricted cash equivalents totaled $329.6 million at March 31, down from $402.7 million at the end of 2025.
Accounts receivable increased to $365.5 million from $345.6 million, while inventories declined to $380.9 million from $404.4 million.
Depreciation, amortization and deferred financing expenses increased to $55.2 million during the quarter from $39.5 million a year earlier.
Teleflex develops medical devices and technologies used in critical care, surgical and interventional procedures.
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