Teleflex lifts 2026 adjusted EPS outlook to $7.50–$7.75
Teleflex raised 2026 adjusted EPS guidance to $7.50–$7.75 as third-quarter adjusted EPS reached $2.63.
Sentiment and the balance of points
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Form Type
8-K
Rhea-AI Filing Summary
Teleflex Incorporated (TFX) reported third-quarter 2026 continuing-operations revenue of $567.8 million, up 0.2% year over year and up 3.0% on a pro forma adjusted constant-currency basis. GAAP diluted EPS was $1.30 versus a loss of $1.32 a year earlier; adjusted diluted EPS was $2.63 versus $1.89, a 39.2% increase. The company raised 2026 adjusted diluted EPS guidance to $7.50–$7.75 and maintained its 3.5%–4.5% pro forma adjusted constant-currency revenue-growth range; GAAP revenue-growth guidance was reduced to 13.2%–14.2% due to foreign-exchange changes.
Teleflex completed the OEM business sale to Montagu and Kohlberg for $1.5 billion in cash, receiving $1.25 billion after tax, and used part of the proceeds to repay its $700 million Term Loan A-2 and some revolving borrowings. The Acute Care and Interventional Urology sale to Intersurgical remains pending, targeted by year-end 2026 subject to regulatory approval and other customary conditions, and may extend into 2027. From July 1, 2026 through the release, Teleflex repurchased $350 million of stock (2.7 million shares at a $128.96 average price); $400 million remained under authorization as of November 5, 2026. Teleflex received $39.2 million in IEEPA tariff refunds in Q3, with $25.3 million recognized as a continuing-operations benefit.
3 points · 1 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.2026 adjusted diluted EPS guidance increased to $7.50–$7.75.
- Moderate pointAdjusted diluted EPS increased 39.2% year over year to $2.63.
- Moderate pointNine-month continuing-operations operating cash flow was $234.8 million, versus $10.3 million.
Negative
- None.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue from continuing operations: $567.8 million
Pro forma adjusted constant currency revenue growth: 3.0%
GAAP diluted EPS from continuing operations: $1.30
+5 more
8 metrics
Revenue from continuing operations
$567.8 million
Third quarter 2026; up 0.2% year over year
Pro forma adjusted constant currency revenue growth
3.0%
Third quarter 2026
GAAP diluted EPS from continuing operations
$1.30
Third quarter 2026; compared with $(1.32) in the prior-year period
Adjusted diluted EPS from continuing operations
$2.63
Third quarter 2026; up 39.2% year over year
2026 adjusted diluted EPS guidance
$7.50–$7.75
Continuing operations; guidance increased
OEM business sale proceeds
$1.5 billion cash; $1.25 billion after tax
Completed August 3, 2026
Common stock repurchases
$350 million; 2.7 million shares at an average price of $128.96 per share
From July 1, 2026 through the release
IEEPA tariff refund payments
$39.2 million
Received during the third quarter of 2026
Key Terms
Pro forma adjusted constant currency revenue growth, Accelerated share repurchase, IEEPA tariff refunds, Italian payback measure, +1 more
5 terms
Pro forma adjusted constant currency revenue growth financial
"up 3.0% on a pro forma adjusted constant currency basis"
A non-GAAP revenue growth measure that shows how sales changed after removing or adjusting for one-time items, accounting effects, or assumed deal-related impacts (pro forma), and after converting figures to a fixed exchange-rate basis (constant currency). It aims to isolate underlying business sales performance by excluding temporary distortions and currency swings, so readers can compare period-to-period revenue as if exchange rates and special events had not affected the numbers.
IEEPA tariff refunds regulatory
"total refund payments of $39.2 million"
Refunds under the International Emergency Economic Powers Act (IEEPA) are repayments of import duties, fees, or penalties that were charged because of trade restrictions or sanctions put in place under emergency authority and later reversed, modified, or found inapplicable. For investors, these refunds can change a company’s past cash outflows and future cost structure—similar to getting a billed charge returned after a rule change—affecting reported earnings or cash available for other uses.
Italian payback measure regulatory
"payments to the Italian government if medical device expenditures exceed ceilings"
A payback measure in Italy is a government rule that requires companies, often in healthcare and pharmaceuticals, to return part of their sales or profits when public spending or agreed budget limits are exceeded. Think of it like a retailer that must refund a portion of its receipts if a city-wide spending cap is breached; for investors it matters because it reduces net revenue, adds uncertainty to future cash flow and can change profit margins and valuation.
Transition services agreements technical
"transition services and manufacturing services agreements"
Earnings Snapshot
Revenue from continuing operations: $567.8 million · Guidance included
Third quarter 2026
Revenue from continuing operations
$567.8 million
Up 0.2% year over year
Pro forma adjusted constant currency revenue growth
3.0%
Third quarter 2026
GAAP diluted EPS from continuing operations
$1.30
Compared with $(1.32) in the prior-year period
Adjusted diluted EPS from continuing operations
$2.63
Up 39.2% year over year
Guidance
2026 adjusted diluted EPS from continuing operations guidance increased to $7.50–$7.75; pro forma adjusted constant-currency revenue growth guidance maintained at 3.5%–4.5%.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did TFX perform in the third quarter of 2026?
TFX reported $567.8 million in continuing-operations revenue, up 0.2% year over year and up 3.0% on a pro forma adjusted constant-currency basis. GAAP diluted EPS was $1.30, compared with a loss of $1.32 in the prior-year period; adjusted diluted EPS was $2.63, a 39.2% increase.
What is TFX's 2026 adjusted EPS guidance?
Teleflex raised its 2026 adjusted diluted EPS guidance to $7.50–$7.75. It maintained its pro forma adjusted constant-currency revenue-growth guidance range of 3.5%–4.5%.
Is TFX's Acute Care and Interventional Urology sale complete?
The sale to Intersurgical Ltd. remains pending. Teleflex is working toward completion by the end of 2026, subject to regulatory approval and other customary closing conditions; closing may extend into 2027.
How much did TFX receive in IEEPA tariff refunds?
Teleflex received $39.2 million in refund payments during the third quarter. It recognized a $25.3 million benefit within continuing operations, including $16.5 million related to tariffs recognized in 2026 and $8.8 million related to tariffs recognized in 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On November 5, 2026, Teleflex Incorporated (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the quarter ended September 30, 2026. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report.
In addition to the financial information included in the Press Release that has been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), the Press Release includes certain non-GAAP financial measures. These measures include pro forma adjusted revenue, pro forma adjusted constant currency revenue growth and adjusted diluted earnings per share. Pro forma adjusted revenue is based upon net revenues, adjusted to (i) exclude, depending on the period presented, the impact of products discontinued in the year ended December 31, 2025 due to a strategic realignment; (ii) give effect to our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025 and (iii) for certain periods, exclude the impact of changes in reserves for prior years related to Italian legislation requiring suppliers of medical devices to the Italian National Healthcare System to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings established for that year. Pro forma adjusted constant currency revenue growth is based upon net revenues, adjusted to exclude, depending on the period presented, the items described in Pro forma adjusted revenue and to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. Adjusted diluted earnings per share is based upon diluted earnings per share available to common stockholders, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact (net of tax) of (i) restructuring and optimization charges; (ii) impairment charges, (iii) acquisition, integration and divestiture related items; (iv) separation costs related to the Company's entry into agreements to divest its Acute Care, Interventional Urology and OEM businesses (the "Strategic Divestitures"), including activities to prepare the businesses for divestiture and maintain continuity through the separation process; (v) the impact from increases in our reserves related to the Italian payback measure pertaining to prior years as described in Pro forma adjusted revenue; (vi) other items identified in the reconciliation tables set forth in the Press Release, as applicable; (vii) certain expenditures associated with the registration of medical devices under the European Union Medical Device Regulation; (viii) intangible amortization expense; (ix) costs incurred in connection with our implementation of a new global enterprise resource planning system and related information technology transition costs; and (x) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.
Management uses these non-GAAP financial measures to assess the Company's financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management’s assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.
The information furnished pursuant to Item 2.02 of this Current Report, including Exhibit 99.1 hereto, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.
Item 7.01. Regulation FD Disclosure.
In connection with the conference call to be held by the Company on November 5, 2026 to discuss its financial results for the quarter ended September 30, 2026, the Company plans to reference a slide presentation, which will be made available in advance of the call through the Company’s website. A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report.
The information furnished pursuant to Item 7.01 of this Current Report, including Exhibit 99.2, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release, dated November 5, 2026
99.2 Earnings Conference Call Slide Presentation
104 The Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 5, 2026 | TELEFLEX INCORPORATED By: /s/ John R. Deren Name: John R. Deren Title: Executive Vice President and Chief Financial Officer | ||||
Exhibit 99.1
| FOR IMMEDIATE RELEASE | November 5, 2026 | ||||
Teleflex Reports Third Quarter Financial Results and Full Year 2026 Outlook
Maintaining Pro Forma Adjusted Constant Currency Revenue Growth Guidance Range of 3.5% to 4.5%
Increasing 2026 Adjusted Diluted EPS from Continuing Operations Guidance Range to $7.50 to $7.75
Repurchased $350 Million in Common Stock Through Accelerated Share Repurchase and Open-Market Transactions Since July 1, 2026
Wayne, PA -- Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the third quarter ended September 30, 2026.
Third quarter 2026 continuing operations financial summary1
•Revenue from continuing operations of $567.8 million, up 0.2% compared to the prior year period, and up 3.0% on a pro forma adjusted constant currency basis1,2
•GAAP diluted EPS from continuing operations of $1.30, compared to $(1.32) in the prior year period
•Adjusted diluted EPS from continuing operations of $2.63, compared to $1.89 in the prior year period
“We are pleased with our third quarter performance, which included margin expansion and robust earnings per share growth, even when excluding IEEPA tariff refunds,” said Jason Weidman, Teleflex’s President and Chief Executive Officer. “Vascular and Surgical continued to deliver solid mid-single-digit growth, and Interventional improved, returning to modest growth. We made notable progress on the Interventional integration and strengthened the business’s leadership with the addition of Jason Fontana as President and General Manager. We also reached an important milestone in simplifying our operating model: we now manage and report as three global business units, Vascular, Interventional and Surgical. Reflecting our third quarter progress, we are raising our full-year adjusted earnings per share guidance.”
Mr. Weidman continued, “We also continued to return capital to shareholders on an accelerated timeline, repurchasing approximately $350 million of common stock between the beginning of the third quarter and the issuance of this release, through the completion of our $250 million accelerated share repurchase program and an additional $100 million in open-market purchases. We remain confident in completing the Acute Care and Interventional Urology divestiture and continue to work toward closing by year-end, subject to completion of the regulatory process. At the same time, we continue to invest in innovation, with programs that have potential to become long-term growth platforms. Freesolve™, our resorbable magnesium scaffold, received FDA Breakthrough Device Designation for PCI, and we see EZPLAZ, the first and only FDA-licensed freeze-dried plasma, as a potential long-term U.S. market opportunity of at least $200 million. Our priorities are clear: strengthening our foundation by delivering our transformation, inclusive of the completion of our Strategic Divestitures and the Vascular Intervention integration, accelerating our organizational effectiveness, and elevating our growth profile within a
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balanced capital allocation framework. We expect these efforts to deliver a meaningful step-up in adjusted earnings per share in 2027, and provide a solid foundation for sustainable growth over time.”
2026 continuing operations guidance summary1
•Reducing GAAP revenue growth guidance range to 13.2% to 14.2% due to changes in foreign exchange rates
•Maintaining pro forma adjusted constant currency revenue growth guidance range of 3.5% to 4.5%2
•Increasing GAAP EPS from continuing operations guidance range to $2.84 to $3.09
•Increasing Adjusted diluted EPS from continuing operations guidance range to $7.50 to $7.75
◦Includes an assumption of approximately 20.0% (as compared to approximately 19.0% previously) adjusted operating margin for 2026 inclusive of IEEPA tariff refunds of $16.5 million recognized in the third quarter 2026
◦Excludes expected benefits from transition services and manufacturing services agreements that come into effect upon closing the Acute Care and Interventional Urology Strategic Divestiture
◦Reflects execution of capital allocation strategy including repayment of $700 million Term Loan A-2, reduction of revolving credit facility borrowings, and $600 million of share repurchases, consisting of $250 million of open-market repurchases completed in the second quarter of 2026 and, subsequently through the date of this release, a $250 million accelerated share repurchase and an additional $100 million of open-market repurchases
◦Excludes other potential future repurchases under previously announced $1 billion share repurchase program primarily funded with proceeds from the Strategic Divestitures
◦Excludes incremental debt paydown with net proceeds from the Strategic Divestitures
(1) Continuing operations excludes the Acute Care, Interventional Urology, and OEM businesses that were classified as discontinued operations beginning in the fourth quarter of 2025 as a result of our entry into agreements to divest those businesses, which we refer to as the “Strategic Divestitures".
(2) Pro forma adjusted constant currency revenue growth includes revenue generated by the acquired Vascular Intervention business in the prior year period, and excludes (a) revenue generated by products previously included within continuing operations that were discontinued at the end of 2025 due to a strategic realignment, (b) the impact of the Italian payback measure, and (c) the impact of foreign exchange.
STRATEGIC DIVESTITURES UPDATE
OEM Divestiture
As previously disclosed, on August 3, 2026, the Company completed the divestiture of its OEM business to Montagu and Kohlberg, for $1.5 billion in cash. The Company received after-tax proceeds of $1.25 billion.
Acute Care and Interventional Urology Divestiture
The Company continues to advance the pending sale of its Acute Care and Interventional Urology businesses to Intersurgical Ltd., and the regulatory review process is progressing. The Company continues to work toward completing the transaction by the end of 2026. Timing remains subject to regulatory approval and other customary closing conditions, and closing may extend into 2027.
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CAPITAL ALLOCATION AND BALANCE SHEET ACTIVITY
Debt Reduction
In August 2026, following the completion of the OEM sale, the Company applied a portion of the net cash proceeds to repay its $700 million term loan A-2 and a portion of its outstanding revolving credit facility borrowings.
Share Repurchase
As previously disclosed, on December 9, 2025, the Board of Directors authorized a share repurchase program for up to $1 billion of the Company's common stock. From July 1, 2026 through the date of this release, the Company has repurchased $350 million of its common stock through an ASR program and open-market purchases. This consisted of 2.7 million shares repurchased at an average price of $128.96 per share. These repurchases (but not any potential future repurchases) have been taken into account in our 2026 Continuing Operations Outlook below.
As of November 5, 2026, the Company had $400 million remaining available under the current authorization.
IEEPA TARIFF REFUNDS
Following the U.S. Supreme Court’s February 20, 2026 decision invalidating tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”), the Company submitted refund requests for IEEPA tariffs it had previously paid. During the third quarter of 2026, the Company received approval and payment for substantially all submitted requests, with total refund payments of $39.2 million, including refunds related to products associated with the Strategic Divestiture businesses.
Of the total refund payments, the Company recognized a benefit of $25.3 million within continuing operations, which reduced cost of sales. This benefit includes $16.5 million and $8.8 million related to tariffs recognized in 2026 and 2025, respectively. The refund pertaining to tariffs incurred in 2026 is included in the Company’s non-GAAP financial measures for the third quarter of 2026. Conversely, the refund pertaining to tariffs incurred in 2025 was excluded from the Company’s non-GAAP financial measures for the third quarter of 2026 because it does not represent normal, recurring operating expenses, making it difficult to contribute to a meaningful evaluation of our period-over-period operating performance. The Company anticipates submitting additional refund requests during the fourth quarter under the final phase of the IEEPA tariff refund process.
BOARD OF DIRECTORS UPDATE
Appointment of Veteran Medical Technology Executive Sean M. Salmon
On September 8, 2026, the Company announced the appointment of Sean M. Salmon to its Board of Directors. Mr. Salmon brings more than three decades of global leadership experience in the medical device and pharmaceutical industries, including more than 20 years at Medtronic plc, where he most recently served as Executive Vice President and President of its Cardiovascular Portfolio, a global business with fiscal 2025 revenue of approximately $12.5 billion. Mr. Salmon also serves on the Board's Growth and Operating Committee, which was established earlier this year to support management's execution of Teleflex's strategic transformation. With Mr. Salmon's appointment, one-third of the Board has been refreshed in 2026.
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REPORTABLE SEGMENTS CHANGE
During the third quarter of 2026, we changed our reportable segments from a geographically based presentation to a global (product based) business unit presentation. As a result, we now have the following three reportable segments: Vascular, Interventional, and Surgical. All prior comparative periods presented have been restated to reflect these changes.
NET REVENUE BY SEGMENT
The following tables provide information regarding net revenues in each of the Company's reportable operating segments for the three and nine months ended September 30, 2026 and the comparable prior year period on both a GAAP and pro forma adjusted constant currency basis.
| Three Months Ended | % Increase | / | (Decrease) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported Revenue | Adjustment | Pro Forma Adjusted Revenue | Reported Revenue | Adjustment | Pro Forma Adjusted Revenue | Reported Revenue Growth | Currency Impact | Adjustment Impact | Pro Forma Adjusted Constant Currency Revenue Growth | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Vascular | $243.5 | $— | $243.5 | $232.5 | $— | $232.5 | 4.7% | 0.1% | —% | 4.6% | |||||||||||||||||||||||||||||||||||||||||||||||||
Interventional1 | 210.3 | — | 210.3 | 215.9 | (5.0) | 210.9 | (2.6)% | (0.5)% | (2.3)% | 0.2% | |||||||||||||||||||||||||||||||||||||||||||||||||
Surgical2 | 114.0 | — | 114.0 | 109.5 | (0.7) | 108.8 | 4.2% | (0.3)% | (0.6)% | 5.1% | |||||||||||||||||||||||||||||||||||||||||||||||||
Segment Net Revenues1 | 567.8 | — | 567.8 | 557.9 | (5.7) | 552.2 | 1.8% | (0.2)% | (1.0)% | 3.0% | |||||||||||||||||||||||||||||||||||||||||||||||||
Other3 | — | — | — | 9.0 | (9.0) | — | (100.0)% | —% | (100.0)% | —% | |||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Net Revenues1 | $567.8 | $— | $567.8 | $566.9 | ($14.7) | $552.2 | 0.2% | (0.2)% | (2.6)% | 3.0% | |||||||||||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended | % Increase | / | (Decrease) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported Revenue | Adjustment | Pro Forma Adjusted Revenue | Reported Revenue | Adjustment | Pro Forma Adjusted Revenue | Reported Revenue Growth | Currency Impact | Adjustment Impact | Pro Forma Adjusted Constant Currency Revenue Growth | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Vascular | $726.6 | $— | $726.6 | $677.6 | $— | $677.6 | 7.2% | 1.4% | —% | 5.8% | |||||||||||||||||||||||||||||||||||||||||||||||||
Interventional1 | 626.8 | — | 626.8 | 430.0 | 188.2 | 618.2 | 45.8% | 0.7% | 44.4% | 0.7% | |||||||||||||||||||||||||||||||||||||||||||||||||
Surgical2 | 333.0 | — | 333.0 | 307.1 | (1.5) | 305.6 | 8.4% | 1.0% | (0.6)% | 8.0% | |||||||||||||||||||||||||||||||||||||||||||||||||
Segment Net Revenues1 | 1,686.4 | — | 1,686.4 | 1,414.7 | 186.7 | 1,601.4 | 19.2% | 1.0% | 14.0% | 4.2% | |||||||||||||||||||||||||||||||||||||||||||||||||
Other3 | — | — | — | 9.0 | (9.0) | — | (100.0)% | —% | (100.0)% | —% | |||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Net Revenues1 | $1,686.4 | $— | $1,686.4 | $1,423.7 | $177.7 | $1,601.4 | 18.5% | 1.0% | 13.3% | 4.2% | |||||||||||||||||||||||||||||||||||||||||||||||||
Notes: (1) Adjustments are inclusive of Vascular Intervention pro forma and discontinued product adjustments.
(2) Adjustments are inclusive of discontinued product adjustments.
(3) In 2025, amounts reflect the impact from decreases in our reserves related to the Italian payback measure pertaining to prior years.
See Pro Forma Adjusted Revenue by Segment table for reconciliation of adjustments.
SEGMENT NET REVENUE BY REGION
The following table provides information regarding net revenues in each of the Company's reportable operating segments by region for the three and nine months ended September 30, 2026 and the comparable prior year period on a GAAP basis.
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| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 30, 2026 | September 28, 2025 | September 30, 2026 | September 28, 2025 | ||||||||||||||||||||
| Reported revenue | |||||||||||||||||||||||
| Vascular | |||||||||||||||||||||||
| North America | $155.6 | $151.9 | $469.1 | $444.2 | |||||||||||||||||||
| Rest of World | 87.9 | 80.6 | 257.5 | 233.4 | |||||||||||||||||||
| Total | 243.5 | 232.5 | 726.6 | 677.6 | |||||||||||||||||||
| Interventional | |||||||||||||||||||||||
| North America | 104.1 | 105.7 | 302.5 | 266.5 | |||||||||||||||||||
| Rest of World | 106.2 | 110.2 | 324.3 | 163.5 | |||||||||||||||||||
| Total | 210.3 | 215.9 | 626.8 | 430.0 | |||||||||||||||||||
| Surgical | |||||||||||||||||||||||
| North America | 64.8 | 63.9 | 191.1 | 179.6 | |||||||||||||||||||
| Rest of World | 49.2 | 45.6 | 141.9 | 127.5 | |||||||||||||||||||
| Total | 114.0 | 109.5 | 333.0 | 307.1 | |||||||||||||||||||
Segment Net Revenues1 | |||||||||||||||||||||||
| North America | 324.5 | 321.5 | 962.7 | 890.3 | |||||||||||||||||||
| Rest of World | 243.3 | 236.4 | 723.7 | 524.4 | |||||||||||||||||||
Total1 | $567.8 | $557.9 | $1,686.4 | $1,414.7 | |||||||||||||||||||
Note: (1) Represents Segment Net Revenues, which excludes "Other". See table above for reconciliation of Segment Net Revenues to Consolidated Net Revenues.
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OTHER CONTINUING OPERATIONS FINANCIAL HIGHLIGHTS
•Depreciation expense, amortization of intangible assets and deferred financing charges for the nine months ended September 30, 2026 totaled $159.4 million compared to $127.3 million for the prior year period.
•Total cash, cash equivalents and restricted cash equivalents at September 30, 2026 were $444.3 million compared to $402.7 million at December 31, 2025.
•Net accounts receivable at September 30, 2026 were $379.6 million compared to $345.6 million at December 31, 2025.
•Inventories at September 30, 2026 were $384.4 million compared to $404.4 million at December 31, 2025.
2026 CONTINUING OPERATIONS OUTLOOK
On a GAAP basis, the Company reduced its full year 2026 revenue growth from continuing operations outlook to a range of 13.2% to 14.2%. The change in guidance range reflects our updated estimate of an approximately 0.5% positive impact of foreign exchange rate fluctuations versus approximately 0.7% previously. On a pro forma adjusted constant currency basis, the Company maintained its full year 2026 revenue growth from continuing operations outlook range of 3.5% to 4.5%.
The Company increased its full year 2026 GAAP diluted earnings per share from continuing operations outlook to a range of $2.84 to $3.09. The Company increased its full year 2026 adjusted diluted earnings per share from continuing operations outlook to a range of $7.50 to $7.75.
Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation
| 2025 | 2026 Guidance | ||||||||||||||||
| Low | High | ||||||||||||||||
| GAAP revenue | $1,992.7 | $2,256 | $2,276 | ||||||||||||||
| Vascular Intervention pro forma adjustment | 199.0 | — | — | ||||||||||||||
| Discontinued product adjustment | (14.3) | — | — | ||||||||||||||
| Italian payback measure adjustment | (9.0) | — | — | ||||||||||||||
| Pro forma adjusted revenue | $2,168.4 | $2,256 | $2,276 | ||||||||||||||
Forecasted 2026 Pro Forma Adjusted Constant Currency Revenue Percent Growth From Continuing Operations Reconciliation
| Low | High | ||||||||||
| Forecasted 2026 GAAP revenue growth | 13.2% | 14.2% | |||||||||
| Vascular Intervention pro forma adjustment | 10.0% | 10.0% | |||||||||
| Discontinued product adjustment | (0.7)% | (0.7)% | |||||||||
| Italian payback measure adjustment | (0.5)% | (0.5)% | |||||||||
| Base year adjustment (GAAP versus pro forma adjusted) | 0.4% | 0.4% | |||||||||
| Estimated impact of foreign currency exchange rate fluctuations | 0.5% | 0.5% | |||||||||
| Forecasted 2026 pro forma adjusted constant currency revenue growth | 3.5% | 4.5% | |||||||||
6
Forecasted 2026 Adjusted Diluted Earnings Per Share From Continuing Operations Reconciliation
| Low | High | ||||||||||
| Forecasted GAAP diluted earnings per share from continuing operations | $2.84 | $3.09 | |||||||||
| Restructuring and optimization items, net of tax | $0.93 | $0.93 | |||||||||
| Acquisition, integration and divestiture related items, net of tax | $0.58 | $0.58 | |||||||||
| Other items, net of tax | $(0.46) | $(0.46) | |||||||||
| ERP implementation, net of tax | $0.31 | $0.31 | |||||||||
| MDR, net of tax | $0.02 | $0.02 | |||||||||
| Intangible amortization expense, net of tax | $2.78 | $2.78 | |||||||||
| Tax adjustments | $0.50 | $0.50 | |||||||||
| Forecasted adjusted diluted earnings per share from continuing operations, net of tax | $7.50 | $7.75 | |||||||||
7
CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION
A webcast of Teleflex's third quarter 2026 investor conference call can be accessed live from a link on the Company's website at teleflex.com. The call will begin at 8:00 am ET on November 5, 2026.
An audio replay of the investor call will be available beginning at 11:00 am ET on November 5, 2026, either on the Teleflex website or by telephone. The call can be accessed by dialing 1 833 309 1852 (U.S. and Canada) or 1 929 828 5978(all other locations). The confirmation code is 893 259 060.
ADDITIONAL NOTES
References in this release to the impact of foreign currency exchange rate fluctuations on adjusted diluted earnings per share include both the impact of translating foreign currencies into U.S. dollars and the impact of foreign currency exchange rate fluctuations on foreign currency denominated transactions.
In the discussion of segment results, "new products" refers to products for which we initiated commercial sales within the past 36 months and "existing products" refers to products we have sold commercially for more than 36 months.
Pro forma adjusted revenue and pro forma adjusted constant currency revenue growth give effect to, among other things, our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025. The pro forma information is presented for informational purposes only and is not necessarily indicative of the historical results that would have occurred under our ownership and management, nor the results that may be obtained in the future.
Certain financial information is presented on a rounded basis, which may cause minor differences. Segment results and commentary exclude the impact of discontinued operations.
NOTES ON NON-GAAP FINANCIAL MEASURES
We report our financial results in accordance with accounting principles generally accepted in the United States, commonly referred to as “GAAP”. In this press release, we provide supplemental information, consisting of the following non-GAAP financial measures: pro forma adjusted revenues, pro forma adjusted constant currency revenue growth, and adjusted diluted earnings per share. These non-GAAP measures are described in more detail below. Management uses these financial measures to assess Teleflex’s financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management’s assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.
Pro forma adjusted revenue: This non-GAAP measure is based upon net revenues, adjusted to (i) exclude products discontinued in the year ended December 31, 2025 due to a strategic realignment; (ii) exclude the items described in
8
Italian payback measure; and (iii) give effect to our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025.
Pro forma adjusted constant currency revenue growth: This non-GAAP measure is based upon net revenues, adjusted to exclude, depending on the period presented, the items described in Pro forma adjusted revenue and to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and such changes generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of currency exchange rate fluctuations that do not reflect our underlying performance or business trends.
Adjusted diluted earnings per share: This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the items described below. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.
Restructuring and optimization charges - Restructuring and optimization charges include expenses associated with discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies, integrate acquired businesses and optimize product portfolios through targeted optimization efforts. These charges include qualified restructuring costs (which may include costs associated with employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement), restructuring related (which may include accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of a restructuring program) and product line exit charges.
Impairment charges - Impairment charges, including those related to goodwill, and other assets occur if, due to events or changes in circumstances, we determine that the carrying value of an asset exceeds its fair value. Impairment charges do not directly affect our liquidity, but could have a material adverse effect on our reported financial results.
Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration liabilities; temporary financing costs directly associated with the transaction, such as bridge loan financing fees, ticking fees, and similar charges, and the impact of derivative instruments executed to hedge foreign currency exposure or other risks associated with the purchase price. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of a divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.
9
Separation costs - These are expenses related to the Strategic Divestitures, including activities to prepare the businesses for divestiture and maintain continuity through the separation process. These charges and costs do not represent normal and recurring operating expenses, will be inconsistent in amounts and frequency, and are not expected to recur after the transaction and related transition services agreements and other arrangements negotiated in connection with the Strategic Divestitures have been completed.
Italian payback measure - The Italian payback measure is a law that requires suppliers of medical devices to the Italian National Healthcare System to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings established for that year. As a result of a ruling from the Italian courts, we recognized a decrease in our reserves during the year ended December 31, 2024, of which $13.8 million related to prior years when including discontinued operations and $6.2 million on a continuing operations basis. In August 2025, the Italian Parliament enacted a modification to the previously enacted legislation that reduced the payment amounts due from the affected companies, including Teleflex, to approximately 25% of the amounts originally invoiced for the years 2015 through 2018. As a result of the modification in the legislation, along with an adjustment to our calculation of the reserves related to years 2019 through 2025, we recognized a $23.7 million decrease in our reserve (and corresponding increase to revenue for the year ended December 31, 2025), of which $20.1 million pertains to prior periods when including discontinued operations and $9.0 million on a continuing operations basis. The amounts do not represent normal adjustments to revenue and are nonrecurring in nature, making it difficult to contribute to a meaningful evaluation of our period over period operating performance.
Other - These are discrete items that occur sporadically and can affect period-to-period comparisons.
European medical device regulation - The European Union (“EU”) has adopted the EU Medical Device Regulation (“MDR”), which replaces the existing Medical Devices Directive (“MDD”) and imposes more stringent requirements for the marketing and sale of medical devices in the EU, including requirements affecting clinical evaluations, quality systems and post-market surveillance. The MDR requirements became effective in May 2021, although certain devices that previously satisfied MDD requirements can continue to be marketed in the EU until December 2027 for highest-risk devices and December 2028 for lower-risk devices, subject to certain limitations. Significantly, the MDR will require the re-registration of previously approved medical devices. As a result, Teleflex will incur expenditures in connection with the new registration of medical devices that previously had been registered under the MDD. Therefore, these expenditures are not considered to be ordinary course expenditures in connection with regulatory matters (in contrast, no adjustment has been made to exclude expenditures related to the registration of medical devices that were not registered previously under the MDD).
Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.
10
ERP implementation - These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance.
Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law or certain other discrete changes affecting our deferred tax liability.
PRO FORMA ADJUSTED REVENUE BY SEGMENT
The following table provides information regarding pro forma adjusted revenues in each of the Company's reportable operating segments in continuing operations for the three and nine months ended September 30, 2026 and the comparable prior year periods.
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| September 30, 2026 | September 28, 2025 | September 30, 2026 | September 28, 2025 | ||||||||||||||
| Vascular | 243.5 | 232.5 | 726.6 | 677.6 | |||||||||||||
| Interventional | 210.3 | 215.9 | 626.8 | 430.0 | |||||||||||||
| Surgical | 114.0 | 109.5 | 333.0 | 307.1 | |||||||||||||
| Other | — | 9.0 | — | 9.0 | |||||||||||||
| GAAP revenue | 567.8 | 566.9 | 1,686.4 | 1,423.7 | |||||||||||||
| Interventional - Vascular Intervention | — | — | — | 199.0 | |||||||||||||
| Interventional - Discontinued Products | — | (5.0) | — | (10.8) | |||||||||||||
| Surgical - Discontinued Products | — | (0.7) | — | (1.5) | |||||||||||||
| Other - Italian Payback Measure | — | (9.0) | — | (9.0) | |||||||||||||
| Pro forma adjusted revenue | $567.8 | $552.2 | $1,686.4 | $1,601.4 | |||||||||||||
| Vascular | 243.5 | 232.5 | 726.6 | 677.6 | |||||||||||||
| Interventional | 210.3 | 210.9 | 626.8 | 618.2 | |||||||||||||
| Surgical | 114.0 | 108.8 | 333.0 | 305.6 | |||||||||||||
11
Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)
Three Months Ended September 30, 2026 | |||||||||||||||||||||||||||||
| Revenue | Gross margin | SG&A (1) | R&D (1) | Operating margin (2) | Income before income taxes | Income tax expense | Effective income tax rate | Diluted earnings per share from continuing operations | |||||||||||||||||||||
| GAAP Basis - Continuing Operations | $567.8 | 65.0% | 38.9% | 7.6% | 18.6% | $83.1 | $28.8 | 34.7% | $1.30 | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 0.1 | (0.5) | — | 0.5 | 3.7 | 0.7 | 0.09 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | — | (0.7) | — | 0.7 | 4.3 | 0.9 | 0.08 | |||||||||||||||||||||
| Other items (C) | — | (1.5) | — | — | (1.5) | (5.3) | (0.4) | (0.12) | |||||||||||||||||||||
| ERP implementation | — | — | (0.6) | — | 0.6 | 3.3 | 0.5 | 0.07 | |||||||||||||||||||||
| MDR | — | — | — | (0.1) | 0.1 | 0.1 | — | — | |||||||||||||||||||||
| Intangible amortization expense | — | 3.2 | (2.8) | — | 6.0 | 33.9 | 4.5 | 0.70 | |||||||||||||||||||||
| Tax adjustments | — | — | — | — | — | — | (21.3) | 0.51 | |||||||||||||||||||||
| Adjustments total | — | 1.8 | (4.6) | (0.1) | 6.4 | 40.0 | (15.1) | 1.33 | |||||||||||||||||||||
| Adjusted basis | $567.8 | 66.8% | 34.3% | 7.5% | 25.0% | $123.1 | $13.7 | 11.1% | $2.63 | ||||||||||||||||||||
| Three Months Ended September 28, 2025 | |||||||||||||||||||||||||||||
| Revenue | Gross margin | SG&A (1) | R&D (1) | Operating margin (2) | (Loss) Income before income taxes | Income tax expense | Effective income tax rate | Diluted (loss) earnings per share from continuing operations | |||||||||||||||||||||
| GAAP Basis - Continuing Operations | $566.9 | 51.5% | 36.6% | 7.8% | (11.0)% | $(92.4) | $(34.0) | 36.8% | $(1.32) | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 0.6 | — | — | 0.9 | 4.8 | 0.8 | 0.08 | |||||||||||||||||||||
| Impairment charges | — | — | — | — | 17.6 | 100.0 | 22.9 | 1.74 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | 7.4 | (1.1) | (0.1) | 8.6 | 48.7 | 9.4 | 0.88 | |||||||||||||||||||||
| Separation costs | — | — | — | — | 0.2 | 1.3 | 0.1 | 0.03 | |||||||||||||||||||||
| Italian payback measure (D) | (9.0) | (0.6) | 0.5 | 0.1 | (1.2) | (9.0) | (0.9) | (0.18) | |||||||||||||||||||||
| ERP implementation | — | — | (0.6) | — | 0.6 | 3.6 | 0.6 | 0.07 | |||||||||||||||||||||
| MDR | — | — | — | (0.2) | 0.2 | 1.3 | — | 0.03 | |||||||||||||||||||||
| Intangible amortization expense | — | 3.4 | (2.7) | — | 6.1 | 34.3 | 4.7 | 0.67 | |||||||||||||||||||||
| Tax adjustments | — | — | — | — | — | — | 5.0 | (0.11) | |||||||||||||||||||||
| Adjustments total | (9.0) | 10.8 | (3.9) | (0.2) | 33.0 | 185.0 | 42.6 | 3.21 | |||||||||||||||||||||
| Adjusted basis | $557.9 | 62.3% | 32.7% | 7.6% | 22.0% | $92.6 | $8.6 | 9.3% | $1.89 | ||||||||||||||||||||
12
Nine Months Ended September 30, 2026 | |||||||||||||||||||||||||||||
| Revenue | Gross margin | SG&A (1) | R&D (1) | Operating margin (2) | Income before income taxes | Income tax expense | Effective income tax rate | Diluted earnings per share from continuing operations | |||||||||||||||||||||
| GAAP Basis - Continuing Operations | $1,686.4 | 59.8% | 39.2% | 7.9% | 11.8% | $124.4 | $33.2 | 26.7% | $2.11 | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 0.4 | (1.1) | — | 2.4 | 42.5 | 6.9 | 0.83 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | 0.5 | (1.1) | — | 1.6 | 27.2 | 5.9 | 0.49 | |||||||||||||||||||||
| Other items (C) | — | (0.5) | 1.2 | — | (1.7) | (24.5) | (4.4) | (0.47) | |||||||||||||||||||||
| ERP implementation | — | — | (0.7) | — | 0.7 | 11.3 | 1.8 | 0.22 | |||||||||||||||||||||
| MDR | — | — | — | (0.1) | 0.1 | 0.9 | — | 0.02 | |||||||||||||||||||||
| Intangible amortization expense | — | 3.1 | (2.9) | — | 6.0 | 101.8 | 13.7 | 2.04 | |||||||||||||||||||||
| Tax adjustments | — | — | — | — | — | — | (21.2) | 0.49 | |||||||||||||||||||||
| Adjustments total | — | 3.5 | (4.6) | (0.1) | 9.1 | 159.2 | 2.7 | 3.62 | |||||||||||||||||||||
| Adjusted basis | $1,686.4 | 63.3% | 34.6% | 7.8% | 20.9% | $283.6 | $35.9 | 12.7% | $5.73 | ||||||||||||||||||||
Nine Months Ended September 28, 2025 | |||||||||||||||||||||||||||||
| Revenue | Gross margin | SG&A (1) | R&D (1) | Operating margin (2) | Income before income taxes | Income tax expense | Effective income tax rate | Diluted earnings per share from continuing operations | |||||||||||||||||||||
| GAAP Basis - Continuing Operations | $1,423.7 | 57.1% | 35.0% | 6.7% | 7.3% | $37.0 | $(25.1) | (67.9)% | $1.38 | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 1.0 | — | — | 1.3 | 18.4 | 3.1 | 0.35 | |||||||||||||||||||||
| Impairment charges | — | — | — | — | 7.6 | 108.1 | 24.7 | 1.86 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | 3.0 | 2.8 | — | 0.3 | 2.6 | 12.2 | (0.21) | |||||||||||||||||||||
| Separation costs | — | — | — | — | 0.2 | 2.6 | 0.1 | 0.06 | |||||||||||||||||||||
| Italian payback measure | (9.0) | (0.2) | 0.1 | — | (0.6) | (8.9) | (0.9) | (0.18) | |||||||||||||||||||||
| ERP implementation | — | — | (0.9) | — | 0.9 | 13.3 | 2.1 | 0.25 | |||||||||||||||||||||
| MDR | — | — | — | (0.2) | 0.2 | 2.9 | 0.1 | 0.06 | |||||||||||||||||||||
| Intangible amortization expense | — | 3.2 | (2.7) | — | 6.0 | 85.0 | 10.8 | 1.65 | |||||||||||||||||||||
| Tax adjustments | — | — | — | — | — | — | 7.1 | (0.16) | |||||||||||||||||||||
| Adjustments total | (9.0) | 7.0 | (0.7) | (0.2) | 15.9 | 224.0 | 59.3 | 3.68 | |||||||||||||||||||||
| Adjusted basis | $1,414.7 | 64.1% | 34.3% | 6.5% | 23.2% | $261.0 | $34.2 | 13.1% | $5.06 | ||||||||||||||||||||
Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of as reported and adjusted revenues.
(2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of as reported and adjusted revenues.
Totals may not sum due to rounding.
13
Tickmarks to Reconciliation Tables
(A)Restructuring and optimization charges – For the three months ended September 30, 2026, a pre-tax restructuring benefit of $0.3 million was offset by restructuring related charges of $4.0 million. For the three months ended September 28, 2025, pre-tax restructuring charges were $1.6 million and restructuring related charges were $3.3 million. For the nine months ended September 30, 2026, pre-tax restructuring charges were $16.7 million and restructuring related charges were $25.9 million. For the nine months ended September 28, 2025, pre-tax restructuring charges were $4.3 million, restructuring related charges were $11.5 million, and product optimization charges were $2.6 million.
(B)Acquisition, integration and divestiture related items – For the three and nine months ended September 30, 2026, these charges primarily related to the acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG. For the three months ended September 30, 2026 these charges included acquisition and integration costs of $4.2 million. For the nine months ended September 30, 2026 these charges included acquisition and integration costs of $20.9 million and inventory step up costs of $8.0 million. For the three and nine months ended September 28, 2025, these charges primarily related to the acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG and changes in the estimated fair value of our contingent consideration liabilities. For the three months ended September 28, 2025 the charges included inventory step-up costs of $42.1 million and integration and acquisition costs of $4.4 million. For the nine months ended September 28, 2025 the charges included inventory step-up costs of $42.1 million and acquisition and integration costs of $26.5 million, which were offset by a benefit of $82.2 million related to non-designated foreign currency forward contracts.
(C)Other – For the three months ended September 30, 2026, other items included a benefit from IEEPA tariff refunds of $8.8 million partially offset by legal and advisory fees incurred in response to an activist investor campaign of $0.1 million and a loss on extinguishment of debt of $3.4 million. For the nine months ended September 30, 2026, other items included a benefit from a litigation settlement of $25.0 million and IEEPA tariff refunds of $8.8 million partially offset by legal and advisory fees incurred in response to an activist investor campaign of $3.7 million, a loss on extinguishment of debt of $4.5 million, and charges incurred in connection with the credit agreement refinancing of $1.0 million.
14
ABOUT TELEFLEX INCORPORATED
As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people’s lives. Through our vision to become the most trusted partner in healthcare, we offer a diverse portfolio with solutions in the therapy areas of anesthesia, emergency medicine, interventional cardiology and radiology, surgical, vascular access, and urology. We believe that the potential of great people, purpose driven innovation, and world-class products can shape the future direction of healthcare.
Teleflex is the home of Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™, Rüsch™, UroLift™ and Weck™ – trusted brands united by a common sense of purpose.
At Teleflex, we are empowering the future of healthcare. For more information, please visit teleflex.com.
CAUTION CONCERNING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements, including, but not limited to, the implementation and execution of our share repurchase program; our intended use of proceeds from the OEM divestiture; our expectations with respect to our financial profile in 2027 and beyond; forecasted 2026 GAAP and pro forma adjusted revenue, GAAP and pro forma adjusted constant currency revenue growth and GAAP and adjusted diluted earnings per share; and our estimates regarding the projected impact of foreign currency exchange rate fluctuations on our 2026 financial results. Actual results could differ materially from those in the forward-looking statements due to, among other things, unanticipated difficulties and expenditures in connection with integration programs; the possibility that the remaining pending transaction in our Strategic Divestitures does not close; unanticipated costs and length of time required to comply with legal requirements and regulatory approvals applicable to the Strategic Divestitures; customer and shareholder reaction to the Strategic Divestitures; disruption from the Strategic Divestitures that may make it more difficult to maintain business and operational relationships; significant transaction costs; delays or cancellations in shipments; demand for and market acceptance of new and existing products; our inability to provide products to our customers, which may be due to, among other things, events that impact key distributors, suppliers and third-party vendors that sterilize our products; risks relating to the activities of activist stockholders; our inability to effectively execute our restructuring plans and programs; our inability to realize anticipated savings from restructuring plans and programs; the impact of healthcare reform legislation and proposals to amend, replace or repeal the legislation; changes in Medicare, Medicaid and third party coverage and reimbursements; the impact of enacted tax legislation and related regulations; competitive market conditions and resulting effects on revenues and pricing; increases in raw material costs that cannot be recovered in product pricing; global economic factors, including currency exchange rates, interest rates, trade disputes, tariffs, sovereign debt issues and international conflicts and hostilities, such as the ongoing conflicts in Ukraine and the Middle East; public health epidemics; difficulties in entering new markets; general economic conditions; and other factors described or incorporated in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K. We expressly disclaim any obligation to update forward-looking statements, except as otherwise specifically stated by us or as required by law or regulation.
15
TELEFLEX INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 30, 2026 | September 28, 2025 | September 30, 2026 | September 28, 2025 | ||||||||||||||||||||
| (Dollars and shares in thousands, except per share) | |||||||||||||||||||||||
Net revenues | $ | 567,783 | $ | 566,946 | $ | 1,686,377 | $ | 1,423,729 | |||||||||||||||
Cost of goods sold | 198,995 | 274,900 | 678,456 | 610,422 | |||||||||||||||||||
Gross profit | 368,788 | 292,046 | 1,007,921 | 813,307 | |||||||||||||||||||
Selling, general and administrative expenses | 220,724 | 207,381 | 660,251 | 497,800 | |||||||||||||||||||
Research and development expenses | 42,983 | 44,261 | 132,491 | 96,044 | |||||||||||||||||||
Restructuring (credits) charges, separation costs and impairment charges | (346) | 102,841 | 16,745 | 114,963 | |||||||||||||||||||
Income (loss) from continuing operations before interest, taxes and loss on extinguishment of debt | 105,427 | (62,437) | 198,434 | 104,500 | |||||||||||||||||||
Interest expense | 21,206 | 31,833 | 74,877 | 72,073 | |||||||||||||||||||
Interest income | (2,282) | (1,832) | (5,406) | (4,549) | |||||||||||||||||||
Loss on extinguishment of debt | 3,381 | — | 4,531 | — | |||||||||||||||||||
Income (loss) from continuing operations before taxes | 83,122 | (92,438) | 124,432 | 36,976 | |||||||||||||||||||
| Taxes (benefit) on income from continuing operations | 28,835 | (34,013) | 33,221 | (25,107) | |||||||||||||||||||
Income (loss) from continuing operations | 54,287 | (58,425) | 91,211 | 62,083 | |||||||||||||||||||
Income (loss) from discontinued operations before taxes | 1,090,472 | (346,156) | 1,148,083 | (231,519) | |||||||||||||||||||
| Taxes on income (loss) from discontinued operations | 217,332 | 4,311 | 220,328 | 21,874 | |||||||||||||||||||
| Income (loss) from discontinued operations | 873,140 | (350,467) | 927,755 | (253,393) | |||||||||||||||||||
Net income (loss) | $ | 927,427 | $ | (408,892) | $ | 1,018,966 | $ | (191,310) | |||||||||||||||
| Earnings per share: | |||||||||||||||||||||||
Basic: | |||||||||||||||||||||||
| Income (loss) from continuing operations | $ | 1.31 | $ | (1.32) | $ | 2.12 | $ | 1.39 | |||||||||||||||
| Income (loss) from discontinued operations | 21.05 | (7.92) | 21.53 | (5.66) | |||||||||||||||||||
Net income (loss) | $ | 22.36 | $ | (9.24) | $ | 23.65 | $ | (4.27) | |||||||||||||||
Diluted: | |||||||||||||||||||||||
| Income (loss) from continuing operations | $ | 1.30 | $ | (1.32) | $ | 2.11 | $ | 1.38 | |||||||||||||||
Income (loss) from discontinued operations | 20.98 | (7.92) | 21.47 | (5.65) | |||||||||||||||||||
Net income (loss) | $ | 22.28 | $ | (9.24) | $ | 23.58 | $ | (4.27) | |||||||||||||||
Weighted average common shares outstanding | |||||||||||||||||||||||
Basic | 41,484 | 44,237 | 43,091 | 44,755 | |||||||||||||||||||
Diluted | 41,628 | 44,237 | 43,210 | 44,850 | |||||||||||||||||||
16
TELEFLEX INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| September 30, 2026 | December 31, 2025 | ||||||||||
| (Dollars in thousands) | |||||||||||
| ASSETS | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 430,465 | $ | 378,564 | |||||||
| Accounts receivable, net | 379,643 | 345,583 | |||||||||
| Inventories | 384,415 | 404,395 | |||||||||
| Prepaid expenses and other current assets | 163,478 | 150,678 | |||||||||
| Prepaid taxes | 7,078 | 19,566 | |||||||||
| Current assets of discontinued operations | 479,595 | 639,552 | |||||||||
| Total current assets | 1,844,674 | 1,938,338 | |||||||||
| Property, plant and equipment, net | 470,377 | 498,281 | |||||||||
| Operating lease assets | 73,666 | 91,817 | |||||||||
| Goodwill | 2,288,319 | 2,305,050 | |||||||||
| Intangible assets, net | 1,404,749 | 1,524,150 | |||||||||
| Deferred tax assets | 12,772 | 12,593 | |||||||||
| Other assets | 124,662 | 112,984 | |||||||||
| Non-current assets of discontinued operations | 128,642 | 464,026 | |||||||||
| Total assets | $ | 6,347,861 | $ | 6,947,239 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Current borrowings | $ | 87,500 | $ | 100,000 | |||||||
| Accounts payable | 142,869 | 130,201 | |||||||||
| Accrued expenses | 142,007 | 117,350 | |||||||||
| Payroll and benefit-related liabilities | 133,730 | 124,769 | |||||||||
| Accrued interest | 16,564 | 5,404 | |||||||||
| Income taxes payable | 194,638 | 18,787 | |||||||||
| Other current liabilities | 91,524 | 137,195 | |||||||||
| Current liabilities of discontinued operations | 108,270 | 128,320 | |||||||||
| Total current liabilities | 917,102 | 762,026 | |||||||||
| Long-term borrowings | 1,531,456 | 2,541,449 | |||||||||
| Deferred tax liabilities | 168,570 | 183,749 | |||||||||
| Noncurrent liability for uncertain tax positions | 3,682 | 3,536 | |||||||||
| Noncurrent operating lease liabilities | 60,785 | 84,210 | |||||||||
| Other liabilities | 161,163 | 194,532 | |||||||||
| Non-current liabilities of discontinued operations | 11,387 | 52,969 | |||||||||
| Total liabilities | 2,854,145 | 3,822,471 | |||||||||
| Commitments and contingencies | |||||||||||
| Total shareholders' equity | 3,493,716 | 3,124,768 | |||||||||
| Total liabilities and shareholders' equity | $ | 6,347,861 | $ | 6,947,239 | |||||||
17
TELEFLEX INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Nine Months Ended | |||||||||||
| September 30, 2026 | September 28, 2025 | ||||||||||
| (Dollars in thousands) | |||||||||||
| Cash flows from operating activities of continuing operations: | |||||||||||
| Net income | $ | 1,018,966 | $ | (191,310) | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| (Income) loss from discontinued operations | (927,755) | 253,393 | |||||||||
| Depreciation expense | 53,330 | 39,177 | |||||||||
| Intangible asset amortization expense | 101,815 | 84,986 | |||||||||
| Deferred financing costs and debt discount amortization expense | 4,224 | 3,181 | |||||||||
| Loss on extinguishment of debt | 4,531 | — | |||||||||
| Changes in contingent consideration | (2,731) | 16,075 | |||||||||
| Stock-based compensation | 18,448 | 19,002 | |||||||||
| Asset impairment charge | — | 108,117 | |||||||||
| Gain on non-designated foreign currency forward contracts | — | (82,636) | |||||||||
| Deferred income taxes, net | 1,163 | (37,536) | |||||||||
| Interest benefit on swaps designated as net investment hedges | (23,159) | (13,254) | |||||||||
| Other | (425) | (4,961) | |||||||||
| Changes in assets and liabilities, net of effects of acquisitions and disposals: | |||||||||||
| Accounts receivable | (40,717) | (94,934) | |||||||||
| Inventories | 10,158 | 52,831 | |||||||||
| Prepaid expenses and other assets | (4,178) | (24,245) | |||||||||
| Accounts payable, accrued expenses and other liabilities | 35,422 | (24,329) | |||||||||
| Income taxes receivable and payable, net | (14,258) | (93,287) | |||||||||
| Net cash provided by operating activities from continuing operations | 234,834 | 10,270 | |||||||||
| Cash flows from investing activities of continuing operations: | |||||||||||
| Expenditures for property, plant and equipment | (54,438) | (71,418) | |||||||||
| Proceeds from sale of business and assets | — | 6,712 | |||||||||
| Payments for businesses and intangibles acquired, net of cash acquired | — | (831,857) | |||||||||
| Proceeds from non-designated balance sheet hedges | — | 82,203 | |||||||||
| Insurance settlement proceeds | — | 9,447 | |||||||||
| Net payments on swaps designated as net investment hedges | (38,308) | 7,612 | |||||||||
| Proceeds from sales of investments | 17 | — | |||||||||
| Purchase of investments | (9,000) | (5,000) | |||||||||
| Net cash used in investing activities from continuing operations | (101,729) | (802,301) | |||||||||
| Cash flows from financing activities of continuing operations: | |||||||||||
| Proceeds from new borrowings | 2,350,000 | 1,140,000 | |||||||||
| Reduction in borrowings | (3,368,125) | (121,750) | |||||||||
| Repurchase of common stock | (554,951) | (300,000) | |||||||||
| Net (payments) proceeds from share based compensation plans and related tax impacts | (5,383) | 7,161 | |||||||||
| Share repurchase excise tax | (2,802) | (1,894) | |||||||||
| Payments for contingent consideration | (156) | (166) | |||||||||
| Dividends paid | (43,748) | (45,242) | |||||||||
| Debt extinguishment, issuance and amendment fees | (16,098) | (4,961) | |||||||||
| Net cash (used in) provided by financing activities from continuing operations | (1,641,263) | 673,148 | |||||||||
| Cash flows from discontinued operations: | |||||||||||
| Net cash provided by operating activities | 56,279 | 178,200 | |||||||||
| Net cash provided by (used in) investing activities | 1,482,576 | (24,481) | |||||||||
| Net cash provided by discontinued operations | 1,538,855 | 153,719 | |||||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents | (7,036) | 18,824 | |||||||||
| Net increase in cash, cash equivalents and restricted cash equivalents | 23,661 | 53,660 | |||||||||
| Cash, cash equivalents and restricted cash equivalents at the beginning of the period | 453,848 | 327,650 | |||||||||
| Less: Cash, cash equivalents and restricted cash of discontinued operations | (33,181) | (44,801) | |||||||||
| Cash, cash equivalents and restricted cash equivalents at the end of the period | $ | 444,328 | $ | 336,509 | |||||||
18
Contacts:
Teleflex Incorporated:
Lawrence Keusch
Vice President, Investor Relations and Strategy Development
investors.teleflex.com
610-948-2836
19
Third Quarter 2026 Earnings Conference Call 11/5/2026 Teleflex Incorporated Exhibit 99.2
The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) An audio replay of the call will be available beginning at 11:00 am Eastern Time on November 5, 2026 either on the Teleflex website or by telephone. The call can be accessed by dialing 1 833 309 1852 (U.S. and Canada) or 1 929 828 5978 (all other locations). The confirmation code is 893 259 060. Conference Call Logistics
Today’s Speakers TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026 Lawrence Keusch VP, Investor Relations and Strategy Development Jason Weidman President and CEO John Deren Executive VP and CFO
TELEFLEX EARNINGS CONFERENCE CALL 11/5/20264 Additional Notes This document contains certain highlights with respect to our third quarter 2026 results and developments and does not purport to be a complete summary thereof. Accordingly, we encourage you to read our Earnings Release for the quarter ended September 30, 2026 located in the investor section of our website at www.teleflex.com and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 to be filed with the Securities and Exchange Commission. Unless otherwise noted, the following slides reflect continuing operations. This presentation contains forward-looking statements, including, but not limited to, our forecasted 2026: GAAP, pro forma adjusted revenue and pro forma adjusted constant currency revenue growth, GAAP and adjusted operating margin and GAAP and adjusted earnings per share and, in each case, our estimates with respect to the items expected to impact those forecasted results; statements regarding our planned uses of the net proceeds from the closing of the sale of our OEM business (the "OEM Strategic Divestiture"), including, without limitation, with respect to the paydown of debt and the repurchase of shares of our outstanding common stock; statements regarding our expectations with respect to the timing for closing of the sales of our Acute Care and Interventional Urology businesses (which, together with the OEM Strategic Divestiture, we refer to as the “Strategic Divestitures”); statements regarding projected costs, savings and timing with respect to restructuring activities related to the Strategic Divestitures; our expectation that the transition services and manufacturing services agreements to be entered into in connection with the Strategic Divestitures will offset stranded costs on an annualized basis; statements regarding EZPLAZ; statements regarding our BIOMAG-II and BIOMAG-III trials and our BIOMAG- LL clinical study; our expectation that our financial profile will be meaningfully stronger starting in 2027; and other matters which inherently involve risks and uncertainties which could cause actual results to differ from those projected or implied in the forward–looking statements. Any forward-looking statements contained herein are based on our management’s current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. These risks and uncertainties are identified and described in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. We expressly disclaim any obligation to update these forward-looking statements, except as otherwise explicitly stated by us or as required by law or regulation. You should not place undue reliance on these statements or the scientific data presented. Note on Forward-Looking Statements Note on Non-GAAP Financial Measures This presentation refers to certain non-GAAP financial measures, including, but not limited to, pro forma adjusted revenue, pro forma adjusted constant currency revenue growth, adjusted diluted earnings per share, adjusted gross and operating margins, adjusted selling, general and administrative expenses, adjusted research and development expenses, adjusted income before taxes, adjusted income tax expense and adjusted tax rate. These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Tables reconciling these non-GAAP financial measures to the most comparable GAAP financial measures are contained within this presentation and the appendices at the end of this presentation.
Jason Weidman President and CEO Executive Overview
Q3 Performance Summary ◦ Closed the OEM Strategic Divestiture for $1.5 billion in proceeds ($1.25 billion after-tax) ◦ OEM Strategic Divestiture generates the majority of our expected proceeds from the Strategic Divestitures — funded debt paydown and share repurchase ◦ Q3'26 pro forma adjusted constant currency revenue grew 3.0% year-over-year ◦ Q3'26 adjusted gross margin of 66.8% and adjusted operating margin of 25.0% ◦ Q3'26 adjusted EPS of $2.63, a 39.2% increase year-over-year Q3'26 Highlights OEM Divestiture Update Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026
Rx Only See appendices to this presentation for EZPLAZ™ Freeze Dried Plasma Indications and Important Safety Information. EZPLAZTM: Building a Long-Term Growth Driver – First and only FDA-licensed freeze dried plasma; approved in late July; customer interest has been high – Stored at room temperature and ready to reconstitute in minutes – makes plasma available on the battlefield, in air and road ambulances, and in trauma centers without waiting to thaw1,2 – Flexible bag is a meaningful differentiator vs. glass-container formats expected from future entrants; first-mover advantage positions EZPLAZ to set the standard – Initial priority is the U.S. government and military, expected to account for the majority of current manufacturing capacity; Department of War discussions continue to progress Innovation Updates TELEFLEX EARNINGS CONFERENCE CALL 11/5/20267 Q3 2026 UPDATE EZPLAZTM Freeze Dried Plasma At Least $200 Million potential long-term U.S. market opportunity and a meaningful growth driver for Teleflex 1.Pusateri AE, Given MB, Schreiber MA, et al. Dried plasma: state of the science and recent developments. Transfusion. 2016;56 Suppl 2:S128-S139. doi:10.1111/ trf.13580 2.Hervig T, Doughty H, Ness P, et al. Prehospital use of plasma: the blood bankers' perspective. Shock. 2014;41 Suppl 1:39-43. doi:10.1097/SHK.0000000000000144 EXPECTED REVENUE PROFILE 2026 Immaterial revenue 2027 Revenue contributor Beyond 2027 Modest ramp over the first several years as the market is built and supply scales
CAUTION—Investigational device. Limited by the United States law to investigational use. FreesolveTM RMS is not for sale in the United States and is commercially available in CE-mark accepting countries only. Indications for Use may vary by geographic location. FreesolveTM Resorbable Magnesium Scaffold (RMS) Breakthrough Device Designation Received – Received FDA Breakthrough Device Designation (BDD) for FreesolveTM RMS in percutaneous coronary intervention (PCI), building on the 2024 BDD for below-the-knee (BTK) treatment of chronic limb-ischemia – BIOMAGTM-II: enrollment completed ahead of schedule; one-year data vs. XIENCETM Drug-Eluting Stent (DES) expected in late 2027 – BIOMAGTM-III: U.S. pivotal trial underway to support a future Premarket Approval (PMA) submission BIOMAGTM-LL Clinical Study Enrollment Completed – Completed enrollment of 102 patients across 14 European centers evaluating 35 mm and 40 mm FreesolveTM RMS lengths in de novo coronary lesions up to 38 mm – Primary endpoint is 12-month target lesion failure (TLF)* – Study will help determine whether longer scaffold lengths may enable treatment of long lesions with fewer implants, potentially simplifying procedures and reducing scaffold overlap – 35 mm and 40 mm lengths are also included in the ongoing BIOMAGTM-III pivotal clinical trial Innovation Updates TELEFLEX EARNINGS CONFERENCE CALL 11/5/20268 Differentiated Freesolve combines temporary scaffolding with drug delivery to target rapidly growing interventional trend to “leave nothing behind” Late-2027 BIOMAG-II: first randomized clinical data readout expected *Target lesion failure (TLF) is a composite clinical endpoint commonly used to assess the safety and effectiveness of coronary interventional devices.
Q3'26 Segment Commentary of Continuing Operations TELEFLEX EARNINGS CONFERENCE CALL 11/5/20269 Vascular Interventional Sales ($M) Commentary • In Q3'26, growth was primarily driven by our intraosseous portfolio, hemostatic products, and peripheral access products Surgical • While several categories including complex catheters, hemostatic products, right heart catheters, and OnControl outperformed, growth was impacted by the ongoing integration and restructuring activities associated with the VI acquisition $243.5 Reported rev. growth: 4.7% Pro forma adj. const. curr. rev. growth: 4.6% Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. Pro forma adjusted constant currency revenue growth is as compared to the prior year period. $210.3 Reported rev. growth: (2.6)% Pro forma adj. const. curr. rev. growth: 0.2% $114.0 Reported rev. growth: 4.2% Pro forma adj. const. curr. rev. growth: 5.1% • Q3'26 growth was primarily driven by strong performances in ligation clips and skin stapling • As expected, saw some distributor inventory destocking associated with normalization following the lidocaine recall earlier in the year • As expected, growth remained strong but moderated from the first half due to the challenging comparison from the acceleration of our new instrument portfolio in mid-2025 • Made good progress in Q3'26 on the mitigation actions addressing the temporary integration dynamics previously communicated; new leadership in place
Three Months Ended September 30, 2026 September 30, 2026 September 28, 2025 % Increase / (Decrease) Reported Revenue Adjustment Pro Forma Adjusted Revenue Reported Revenue Adjustment Pro Forma Adjusted Revenue Reported Revenue Growth Currency Impact Adjustment Impact Pro Forma Adjusted Constant Currency Revenue Growth Vascular $243.5 $— $243.5 $232.5 $— $232.5 4.7% 0.1% —% 4.6% Interventional1 210.3 — 210.3 215.9 (5.0) 210.9 (2.6)% (0.5)% (2.3)% 0.2% Surgical2 114.0 — 114.0 109.5 (0.7) 108.8 4.2% (0.3)% (0.6)% 5.1% Segment Net Revenues1 567.8 — 567.8 557.9 (5.7) 552.2 1.8% (0.2)% (1.0)% 3.0% Other3 — — — 9.0 (9.0) — (100.0)% —% (100.0)% —% Consolidated Net Revenues1 $567.8 $— $567.8 $566.9 $(14.7) $552.2 0.2% (0.2)% (2.6)% 3.0% TELEFLEX EARNINGS CONFERENCE CALL 11/5/202610 Q3'26 Revenue Review By Segment Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. (1) Adjustments are inclusive of Vascular Intervention pro forma and discontinued product adjustments (2) Adjustments are inclusive of discontinued product adjustments (3) In 2025, amounts reflect the impact from decreases in our reserves related to the Italian payback measure pertaining to prior years.
John Deren Executive VP and CFO Financial Overview
$1.89 $2.63 2025 2026 Q3'26 Financial Review of Continuing Operations TELEFLEX EARNINGS CONFERENCE CALL 11/5/202612 Note: See appendices for reconciliations of non-GAAP financial information. 62.3% 66.8% 2025 2026 SG&A Expense (% of Sales) Gross Margin R&D Expense (% of Sales) Operating Margin Earnings per Share ◦ a 290 bps benefit from a refund related to 2026 IEEPA tariff payments ◦ and foreign currency fluctuations, partially offset by an increase in quality remediation charges ◦ year-over-year gross margin increase ◦ partially offset by business investments and higher incentive compensation (stronger performance in 2026 and lower prior year accrual) ◦ higher sales volume, lower interest expense and shares outstanding, and tariff refunds ◦ The year-over-year adjusted operating margin increase was driven by the following: ◦ The year-over-year adjusted gross margin increase was primarily driven by the following: ◦ The year-over-year adjusted earnings per share increase was driven by the following: 22.0% 25.0% 2025 2026 ◦ operating expenses associated with business and employee investments ◦ The year-over-year adjusted SG&A expense % of sales increase was driven by the following: ◦ Year-over-year adjusted R&D expense % of sales was flat 450 bps 300 bps 32.7% 34.3% 2025 2026 7.6% 7.5% 2025 2026 Adjusted GAAP -$1.32 $1.30 2025 2026 51.5% 65.0% 2025 2026 (11.0)% 18.6% 2025 2026 36.6% 38.9% 2025 2026 7.8% 7.6% 2025 2026
Capital return commitment • $1 billion share repurchase authorization and $800 million reduction in debt • Near-term capital return to shareholders to be primarily funded by after-tax proceeds from the Strategic Divestitures Share repurchases • From July 1, 2026 through the date of this presentation, the Company has repurchased $350 million of its common stock through an ASR program ($250 million) and open market purchases ($100 million) • This consisted of 2.7 million shares repurchased at an average price of $128.96 per share • As of November 5, 2026, the Company had $400 million remaining available under the current authorization 13 Capital Allocation Strategy Update TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026
14 Revenue ◦ Maintaining 2026 pro forma adjusted constant currency revenue growth range of 3.5% to 4.5% year-over-year ◦ Reducing 2026 GAAP revenue from continuing operations growth range to 13.2% to 14.2% year-over-year due to changes in foreign currency exchange rates Earnings Per Share ◦ Increasing 2026 Adjusted diluted EPS from continuing operations range to $7.50 to $7.75 ◦ Increasing 2026 GAAP EPS from continuing operations range to $2.84 to $3.09 2026 Financial Guidance Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026
2026 Guidance Considerations 15 Pro Forma Adj. CC Revenue Growth ◦ 3.5% to 4.5% pro forma adjusted constant currency revenue growth for 2026 Adjusted Earnings Per Share ◦ 2026 adjusted EPS from continuing operations in the range of $7.50 to $7.75 ◦ Excludes foreign exchange, Italian payback measure, and discontinued products ◦ Includes Vascular Intervention revenue for the first half of 2025 ◦ ~20.0% adjusted operating margin inclusive of IEEPA tariff refunds of $16.5M recognized in the third quarter 2026 ◦ ~11.5% adjusted tax rate ◦ $85M of net interest expense ◦ 42.5 million shares outstanding for 2026 ◦ Reflects execution of capital allocation strategy, including pay off of $700 million Term Loan A-2, pay down of a portion of the revolving credit facility, and $600 million of share repurchases ◦ Excludes transition services (TS) and manufacturing services (MS) benefits from the Acute Care & Interventional Urology Strategic Divestiture ◦ Excludes future repurchases under the $1B buyback program funded by Strategic Divestitures proceeds, of which $400 million is remaining ◦ Excludes incremental debt paydown with net proceeds from the Strategic Divestitures ◦ Assumes: Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026
16 Adjusted Operating Margin Debt Paydown ◦ Intent to pay down ~$800M in debt (paid off $700 million of debt associated with the Vascular Intervention acquisition), with net proceeds from the Strategic Divestitures Share Repurchase ◦ Remaining $400 million authorization under previously announced share repurchase program to be funded with net proceeds from the Strategic Divestitures 2026 Financial Guidance – Future Opportunities ◦ TS/MS agreements expected to offset stranded costs on an annualized basis following close of AC/IU Strategic Divestiture ◦ Previously announced restructuring programs to result in ~$50 million of pre-tax savings on an annualized basis upon completion in mid-2028, which will contribute to mitigating stranded costs ◦ Working on additional cost savings to further mitigate stranded costs TELEFLEX EARNINGS CONFERENCE CALL 11/5/2026
2026 Financial Guidance of Continuing Operations Summary TELEFLEX EARNINGS CONFERENCE CALL 11/5/202617 2026 Guidance Low High GAAP Revenue Growth 13.2% 14.2% Impact of Vascular Intervention Pro Forma 10.0% 10.0% Impact of Discontinued Product (0.7)% (0.7)% Impact of Italian Payback Measure (0.5)% (0.5)% Base Year Adjustment (GAAP Versus Pro Forma Adjusted) 0.4% 0.4% Impact of Foreign Exchange Rate Fluctuations 0.5% 0.5% Pro Forma Adjusted Constant Currency Revenue Growth 3.5% 4.5% Adjusted Operating Margin ~20.0% Adjusted EPS $7.50 $7.75 Adjusted EPS % Growth 7.4% 11.0% Note: See appendices for reconciliations of non-GAAP financial information.
Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation TELEFLEX EARNINGS CONFERENCE CALL 11/5/202618 2026 Guidance 2025 2026 Guidance Low High GAAP revenue $1,992.7 $2,256 $2,276 Vascular Intervention pro forma adjustment 199.0 — — Discontinued product adjustment (14.3) — — Italian payback measure adjustment (9.0) — — Pro forma adjusted revenue $2,168.4 $2,256 $2,276 Note: See appendices for reconciliations of non-GAAP financial information.
TELEFLEX EARNINGS CONFERENCE CALL 11/5/202619 Key Takeaways Strong Q3 Performance; Raising FY26 Adjusted EPS Guidance • Expanded adj. margins; grew adj. EPS • Vascular & Surgical solid; Interventional moving in the right direction • Maintaining FY26 revenue growth outlook Meaningful Progress on Our Transformation • Interventional integration advancing with new leadership in place • Confident in completing the AC/IU divestiture • Advancing longer-term growth with EZPLAZ and Freesolve Clear Path to a Meaningful Step-Up in 2027+ • Priorities: strengthen foundation, accelerate organizational effectiveness, elevate growth profile • Planned completion of $1B buyback after AC/IU close • 2027 step-up in adj. op. margin & EPS; sustainable growth beyond
TELEFLEX EARNINGS CONFERENCE CALL 11/5/202620 Thank You!
Appendices
The presentation to which these appendices are attached and the following appendices include, among other things, tables reconciling the following applicable non-GAAP financial measures to the most comparable GAAP financial measure: Pro forma adjusted revenue. This non-GAAP measure is based upon net revenues, adjusted to (i) exclude products discontinued in the year ended December 31, 2025 due to a strategic realignment; (ii) exclude the items described in Italian payback measure; and (iii) give effect to our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025. Pro forma adjusted constant currency revenue growth. This non-GAAP measure is based upon net revenues, adjusted to exclude, depending on the period presented, the items described in Pro forma adjusted revenue and to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and such changes generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of currency exchange rate fluctuations that do not reflect our underlying performance or business trends. Note: Pro forma adjusted revenue and pro forma adjusted constant currency revenue growth give effect to, among other things, our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025. The pro forma information is presented for informational purposes only and is not necessarily indicative of the historical results that would have occurred under our ownership and management, nor the results that may be obtained in the future. Non-GAAP Financial Measures TELEFLEX EARNINGS CONFERENCE CALL 11/5/202622
Adjusted diluted earnings per share. This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact of (i) restructuring and optimization charges; (ii) impairment charges; (iii) acquisition, integration and divestiture related items; (iv) separation costs; (v) Italian payback measure; (vi) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (vii) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (viii) intangible amortization expense; (ix) other items; and (x) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends. Adjusted gross profit and margin. These measures exclude, depending on the period presented, the impacts of (i) restructuring and optimization charges; (ii) acquisition, integration and divestiture related items; (iii) Italian payback measure; (iv) other items; and (v) intangible amortization expense. Adjusted operating profit and margin. These measures exclude, depending on the period presented, the impact of (i) restructuring and optimization charges; (ii) impairment charges; (iii) acquisition, integration and divestiture related items; (iv) separation costs; (v) Italian payback measure; (vi) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (vii) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (viii) intangible amortization expense; and (ix) other items. Adjusted selling, general and administrative expenses. This measure excludes, depending on the period presented, the impact of (i) restructuring and optimization charges; (ii) acquisition, integration and divestiture related items; (iii) Italian payback measure; (iv) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (v) intangible amortization expense; and (vi) other items. Adjusted research and development expenses. This measure excludes the impact of certain costs associated with the registration of medical devices under the European Union Medical Device Regulation. Adjusted income before taxes. This measure excludes, depending on the period presented, the impact of (i) restructuring and optimization charges; (ii) impairment charges; (iii) acquisition, integration and divestiture related items; (iv) separation costs; (v) Italian payback measure; (vi) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (vii) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (viii) intangible amortization expense; and (ix) other items. Adjusted income tax expense. This measure excludes, depending on the period presented, the impact of (i) restructuring and optimization charges; (ii) impairment charges; (iii) acquisition, integration and divestiture related items; (iv) Italian payback measure; (v) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (vi) intangible amortization expense; (vii) tax adjustments; and (viii) other items. Adjusted tax rate. This measure is the percentage of the Company’s adjusted taxes on income from continuing operations to its adjusted income from continuing operations before taxes. Adjusted taxes on income from continuing operations excludes, depending on the period presented, the impact of tax benefits or costs associated with (i) restructuring and optimization charges; (ii) impairment charges; (iii) acquisition, integration and divestiture related items; (iv) separation costs; (v) Italian payback measure; (vi) costs incurred in connection with our implementation of a new global ERP solution and related IT transition costs; (vii) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (viii) intangible amortization expense; and (ix) tax adjustments. Non-GAAP Financial Measures TELEFLEX EARNINGS CONFERENCE CALL 11/5/202623
The following is an explanation of certain of the adjustments that are applied with respect to one or more of the non-GAAP financial measures that appear in the presentation to which these appendices are attached: Restructuring and optimization charges - Restructuring and optimization charges include expenses associated with discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies, integrate acquired businesses and optimize product portfolios through targeted optimization efforts. These charges include qualified restructuring costs (which may include costs associated with employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement), restructuring related expenses (which may include accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of a restructuring program) and product line exit charges. Impairment charges - Impairment charges, including those related to goodwill, and other assets occur if, due to events or changes in circumstances, we determine that the carrying value of an asset exceeds its fair value. Impairment charges do not directly affect our liquidity, but could have a material adverse effect on our reported financial results. Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration liabilities; temporary financing costs directly associated with the transaction, such as bridge loan financing fees, ticking fees, and similar charges, and the impact of derivative instruments executed to hedge foreign currency exposure or other risks associated with the purchase price. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of a divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. Separation costs - These are expenses related to the Strategic Divestitures, including activities to prepare the businesses for divestiture and maintain continuity through the separation process. These charges and costs do not represent normal and recurring operating expenses, will be inconsistent in amounts and frequency, and are not expected to recur after the transaction and related transition services agreements and other arrangements negotiated in connection with the Strategic Divestitures have been completed. Non-GAAP Adjustments TELEFLEX EARNINGS CONFERENCE CALL 11/5/202624
Italian payback measure - The Italian payback measure is a law that requires suppliers of medical devices to the Italian National Healthcare System to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings established for that year. As a result of a ruling from the Italian courts, we recognized a decrease in our reserves during the year ended December 31, 2024, of which $13.8 million related to prior years when including discontinued operations and $6.2 million on a continuing operations basis. In August 2025, the Italian Parliament enacted a modification to the previously enacted legislation that reduced the payment amounts due from the affected companies, including Teleflex, to approximately 25% of the amounts originally invoiced for the years 2015 through 2018. As a result of the modification in the legislation, along with an adjustment to our calculation of the reserves related to years 2019 through 2025, we recognized a $23.7 million decrease in our reserve (and corresponding increase to revenue for the year ended December 31, 2025), of which $20.1 million pertains to prior periods when including discontinued operations and $9.0 million on a continuing operations basis. The amounts do not represent normal adjustments to revenue and are nonrecurring in nature, making it difficult to contribute to a meaningful evaluation of our period over period operating performance. Other - These are discrete items that occur sporadically and can affect period-to-period comparisons. The benefit from IEEPA tariff refunds received in 2026 related to tariffs incurred in 2025 were excluded from the Company’s non-GAAP financial measures for the third quarter of 2026 because it does not represent normal, recurring operating expenses, making it difficult to contribute to a meaningful evaluation of our period-over-period operating performance. MDR - The European Union (“EU”) has adopted the EU Medical Device Regulation (“MDR”), which replaces the existing Medical Devices Directive (“MDD”) and imposes more stringent requirements for the marketing and sale of medical devices in the EU, including requirements affecting clinical evaluations, quality systems and post-market surveillance. The MDR requirements became effective in May 2021, although certain devices that previously satisfied MDD requirements can continue to be marketed in the EU until December 2027 for highest- risk devices and December 2028 for lower-risk devices, subject to certain limitations. Significantly, the MDR will require the re-registration of previously approved medical devices. As a result, Teleflex will incur expenditures in connection with the new registration of medical devices that previously had been registered under the MDD. Therefore, these expenditures are not considered to be ordinary course expenditures in connection with regulatory matters (in contrast, no adjustment has been made to exclude expenditures related to the registration of medical devices that were not registered previously under the MDD). Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. Non-GAAP Adjustments TELEFLEX EARNINGS CONFERENCE CALL 11/5/202625
ERP implementation - These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance. Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law or certain other discrete changes affecting our deferred tax liability. Non-GAAP Adjustments TELEFLEX EARNINGS CONFERENCE CALL 11/5/202626
Nine Months Ended September 30, 2026 September 30, 2026 September 28, 2025 % Increase / (Decrease) Reported Revenue Adjustment Pro Forma Adjusted Revenue Reported Revenue Adjustment Pro Forma Adjusted Revenue Reported Revenue Growth Currency Impact Adjustment Impact Pro Forma Adjusted Constant Currency Revenue Growth Vascular $726.6 $— $726.6 $677.6 $— $677.6 7.2% 1.4% —% 5.8% Interventional1 626.8 — 626.8 430.0 188.2 618.2 45.8% 0.7% 44.4% 0.7% Surgical2 333.0 — 333.0 307.1 (1.5) 305.6 8.4% 1.0% (0.6)% 8.0% Segment Net Revenues1 1,686.4 — 1,686.4 1,414.7 186.7 1,601.4 19.2% 1.0% 14.0% 4.2% Other3 — — — 9.0 (9.0) — (100.0)% —% (100.0)% —% Consolidated Net Revenues1 $1,686.4 $— $1,686.4 $1,423.7 $177.7 $1,601.4 18.5% 1.0% 13.3% 4.2% TELEFLEX EARNINGS CONFERENCE CALL 11/5/202627 Appendix A1 – 2026 Revenue Review By Segment Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. (1) Adjustments are inclusive of Vascular Intervention pro forma and discontinued product adjustments (2) Adjustments are inclusive of discontinued product adjustments (3) In 2025, amounts reflect the impact from decreases in our reserves related to the Italian payback measure pertaining to prior years.
Three Months Ended Nine Months Ended September 30, 2026 September 28, 2025 September 30, 2026 September 28, 2025 Reported Revenue Vascular North America $155.6 $151.9 $469.1 $444.2 Rest of World 87.9 80.6 257.5 233.4 Total 243.5 232.5 726.6 677.6 Interventional North America 104.1 105.7 302.5 266.5 Rest of World 106.2 110.2 324.3 163.5 Total 210.3 215.9 626.8 430.0 Surgical North America 64.8 63.9 191.1 179.6 Rest of World 49.2 45.6 141.9 127.5 Total 114.0 109.5 333.0 307.1 Segment Net Revenues North America 324.5 321.5 962.7 890.3 Rest of World 243.3 236.4 723.7 524.4 Total $567.8 $557.9 $1,686.4 $1,414.7 TELEFLEX EARNINGS CONFERENCE CALL 11/5/202628 Appendix A2 – Segment Revenue Review by Region
Appendix B1 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) TELEFLEX EARNINGS CONFERENCE CALL 11/5/202629 Three Months Ended September 30, 2026 Revenue Gross margin SG&A (1) R&D (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis - Continuing Operations $567.8 65.0% 38.9% 7.6% 18.6% $83.1 $28.8 34.7% $1.30 Adjustments Restructuring and optimization charges (A) — 0.1 (0.5) — 0.5 3.7 0.7 0.09 Acquisition, integration and divestiture related items (B) — — (0.7) — 0.7 4.3 0.9 0.08 Other items (C) — (1.5) — — (1.5) (5.3) (0.4) (0.12) ERP implementation — — (0.6) — 0.6 3.3 0.5 0.07 MDR — — — (0.1) 0.1 0.1 — — Intangible amortization expense — 3.2 (2.8) — 6.0 33.9 4.5 0.70 Tax adjustments — — — — — — (21.3) 0.51 Adjustments total — 1.8 (4.6) (0.1) 6.4 40.0 (15.1) 1.33 Adjusted basis $567.8 66.8% 34.3% 7.5% 25.0% $123.1 $13.7 11.1% $2.63 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenue. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenue. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding.
Three Months Ended September 28, 2025 Revenue Gross margin SG&A (1) R&D (1) Operating margin (2) (Loss) Income before income taxes Income tax expense Effective income tax rate Diluted (loss) earnings per share from continuing operations GAAP Basis - Continuing Operations $566.9 51.5% 36.6% 7.8% (11.0)% $(92.4) $(34.0) 36.8% $(1.32) Adjustments Restructuring and optimization charges (A) — 0.6 — — 0.9 4.8 0.8 0.08 Impairment charges — — — — 17.6 100.0 22.9 1.74 Acquisition, integration and divestiture related items (B) — 7.4 (1.1) (0.1) 8.6 48.7 9.4 0.88 Separation costs — — — — 0.2 1.3 0.1 0.03 Italian payback measure (9.0) (0.6) 0.5 0.1 (1.2) (9.0) (0.9) (0.18) ERP implementation — — (0.6) — 0.6 3.6 0.6 0.07 MDR — — — (0.2) 0.2 1.3 — 0.03 Intangible amortization expense — 3.4 (2.7) — 6.1 34.3 4.7 0.67 Tax adjustments — — — — — — 5.0 (0.11) Adjustments total (9.0) 10.8 (3.9) (0.2) 33.0 185.0 42.6 3.21 Adjusted basis $557.9 62.3% 32.7% 7.6% 22.0% $92.6 $8.6 9.3% $1.89 TELEFLEX EARNINGS CONFERENCE CALL 11/5/202630 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenue. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenue. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding. Appendix B2 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)
Appendix B3 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) TELEFLEX EARNINGS CONFERENCE CALL 11/5/202631 Nine Months Ended September 30, 2026 Revenue Gross margin SG&A (1) R&D (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis - Continuing Operations $1,686.4 59.8% 39.2% 7.9% 11.8% $124.4 $33.2 26.7% $2.11 Adjustments Restructuring and optimization charges (A) — 0.4 (1.1) — 2.4 42.5 6.9 0.83 Acquisition, integration and divestiture related items (B) — 0.5 (1.1) — 1.6 27.2 5.9 0.49 Other items (C) — (0.5) 1.2 — (1.7) (24.5) (4.4) (0.47) ERP implementation — — (0.7) — 0.7 11.3 1.8 0.22 MDR — — — (0.1) 0.1 0.9 — 0.02 Intangible amortization expense — 3.1 (2.9) — 6.0 101.8 13.7 2.04 Tax adjustments — — — — — — (21.2) 0.49 Adjustments total 3.5 (4.6) (0.1) 9.1 159.2 2.7 3.62 Adjusted basis $1,686.4 63.3% 34.6% 7.8% 20.9% $283.6 $35.9 12.7% $5.73 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenue. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenue. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding.
Nine Months Ended September 28, 2025 Revenue Gross margin SG&A (1) R&D (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis - Continuing Operations $1,423.7 57.1% 35.0% 6.7% 7.3% $37.0 $(25.1) (67.9)% $1.38 Adjustments Restructuring and optimization charges (A) — 1.0 — — 1.3 18.4 3.1 0.35 Impairment charges — — — — 7.6 108.1 24.7 1.86 Acquisition, integration and divestiture related items (B) — 3.0 2.8 — 0.3 2.6 12.2 (0.21) Separation costs — — — — 0.2 2.6 0.1 0.06 Italian payback measure (9.0) (0.2) 0.1 — (0.6) (8.9) (0.9) (0.18) ERP implementation — — (0.9) — 0.9 13.3 2.1 0.25 MDR — — — (0.2) 0.2 2.9 0.1 0.06 Intangible amortization expense — 3.2 (2.7) — 6.0 85.0 10.8 1.65 Tax adjustments — — — — — — 7.1 (0.16) Adjustments total (9.0) 7.0 (0.7) (0.2) 15.9 224.0 59.3 3.68 Adjusted basis $1,414.7 64.1% 34.3% 6.5% 23.2% $261.0 $34.2 13.1% $5.06 TELEFLEX EARNINGS CONFERENCE CALL 11/5/202632 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenue. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenue. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding. Appendix B4 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)
TELEFLEX EARNINGS CONFERENCE CALL 11/5/202633 A. Restructuring and optimization charges – For the three months ended September 30, 2026, a pre-tax restructuring benefit of $0.3 million was offset by restructuring related charges of $4.0 million. For the three months ended September 28, 2025, pre-tax restructuring charges were $1.6 million and restructuring related charges were $3.3 million. For the nine months ended September 30, 2026, pre-tax restructuring charges were $16.7 million and restructuring related charges were $25.9 million. For the nine months ended September 28, 2025, pre-tax restructuring charges were $4.3 million, restructuring related charges were $11.5 million, and product optimization charges were $2.6 million. B. Acquisition, integration and divestiture related items – For the three and nine months ended September 30, 2026, these charges primarily related to the acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG. For the three months ended September 30, 2026 these charges included acquisition and integration costs of $4.2 million. For the nine months ended September 30, 2026 these charges included acquisition and integration costs of $20.9 million and inventory step up costs of $8.0 million. For the three and nine months ended September 28, 2025, these charges primarily related to the acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG and changes in the estimated fair value of our contingent consideration liabilities. For the three months ended September 28, 2025 the charges included inventory step-up costs of $42.1 million and integration and acquisition costs of $4.4 million. For the nine months ended September 28, 2025 the charges included inventory step-up costs of $42.1 million and acquisition and integration costs of $26.5 million, which were offset by a benefit of $82.2 million related to non-designated foreign currency forward contracts. C. Other – For the three months ended September 30, 2026, other items included a benefit from IEEPA tariff refunds of $8.8 million partially offset by legal and advisory fees incurred in response to an activist investor campaign of $0.1 million and a loss on extinguishment of debt of $3.4 million. For the nine months ended September 30, 2026, other items included a benefit from a litigation settlement of $25.0 million and IEEPA tariff refunds of $8.8 million partially offset by legal and advisory fees incurred in response to an activist investor campaign of $3.7 million, a loss on extinguishment of debt of $4.5 million, and charges incurred in connection with the credit agreement refinancing of $1.0 million. Appendix B Tickmarks
Appendix C - 2026 Adj. Operating Margin Guidance Reconciliation TELEFLEX EARNINGS CONFERENCE CALL 11/5/202634 Forecasted GAAP Operating Margin 11.0% Estimated restructuring and optimization items 2.1% Estimated acquisition, integration and divestiture related items 1.4% Estimated other items (1.3)% Estimated ERP implementation 0.7% Estimated intangible amortization expense 6.1% Forecasted Adjusted Operating Margin ~20.0%
Appendix D - Reconciliation of Forecasted 2026 Adjusted Earnings Per Share Guidance TELEFLEX EARNINGS CONFERENCE CALL 11/5/202635 Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $2.84 $3.09 Restructuring and optimization items, net of tax $0.93 $0.93 Acquisition, integration and divestiture related items, net of tax $0.58 $0.58 Other items, net of tax $(0.46) $(0.46) ERP implementation, net of tax $0.31 $0.31 MDR, net of tax $0.02 $0.02 Intangible amortization expense, net of tax $2.78 $2.78 Tax adjustments $0.50 $0.50 Forecasted Adjusted Diluted Earnings Per Share from continuing operations, net of tax $7.50 $7.75
2026 Financial Review - Nine Months Ended September 30, 2026 TELEFLEX EARNINGS CONFERENCE CALL 11/5/202636 Gross margin Operating margin Effective tax rate Earnings per share ◦ Adjusted gross margin of 63.3%, down 80 bps year-over-year ◦ GAAP gross margin of 59.8% vs. 57.1% in the prior year period ◦ Adjusted operating margin of 20.9%, down 230 bps year-over-year ◦ GAAP operating margin of 11.8% vs. 7.3% in prior year period ◦ Adjusted tax rate of 12.7% vs. 13.1% in prior year period ◦ GAAP tax rate of 26.7% vs. (67.9)% in prior year period ◦ Adjusted EPS of $5.73, up 13.2% year-over-year ◦ GAAP EPS of $2.11 vs. $1.38 in prior year period Global revenue growth ◦ Pro forma adjusted revenue increased 4.2% year-over-year on a constant currency basis ◦ Revenue increased 18.5% year-over-year on a GAAP basis Note: See appendices for reconciliations of non-GAAP financial information.
Rx Only INDICATIONS AND IMPORTANT SAFETY INFORMATION FOR EZPLAZ™ FREEZE DRIED PLASMA INDICATIONS EZPLAZ™ Freeze Dried Plasma (FDP) is indicated for transfusion in adults when plasma is required and other plasma products are not available. Indications include: • Management of preoperative or bleeding patients who require replacement of multiple plasma coagulation factors [e.g., liver disease, disseminated intravascular coagulation (DIC)] • Patients undergoing massive transfusion who have clinically significant coagulation deficiencies • Patients taking warfarin who are bleeding or need to undergo an invasive procedure before vitamin K could reverse the warfarin effect or who need only transient reversal of warfarin effect IMPORTANT SAFETY INFORMATION CONTRAINDICATIONS Do not use EZPLAZ™ FDP: • In patients with history of hypersensitivity to fresh frozen plasma (FFP), liquid plasma or to plasma-derived products including any plasma proteins • In patients with IgA deficiency WARNINGS AND PRECAUTIONS As with other licensed blood products, EZPLAZ™ FDP may cause adverse events known to be associated with transfusion of blood products. For a complete list and further details not provided below, please refer to the Circular of Information. Hemolytic Transfusion Reactions Hemolytic transfusion reactions can occur with ABO blood group mismatches. EZPLAZ™ FDP is provided in blood group type AB or type A low titer Anti-B (< 1:200 by saline tube method). Transfusion-Related Acute Lung Injury (TRALI) To mitigate the risk of TRALI, EZPLAZ™ FDP is manufactured from FFP donated by male only donors. Infection Risk from Human Plasma Because EZPLAZ™ FDP is made from human plasma, it may carry a risk of transmitting infectious agents, e.g., viruses, bacteria, and theoretically the variant Creutzfeldt-Jakob disease (vCJD) agent. Hypersensitivity Reaction Hypersensitivity reactions, including anaphylaxis, may occur. Discontinue the transfusion if signs or symptoms of hypersensitivity occur and treat appropriately. Specific Therapies EZPLAZ™ FDP may be less effective in correcting certain coagulopathies when therapies targeting specific coagulation factor deficiencies or anticoagulant effects are available. In such situations, clinicians should consider the use of targeted therapies, when clinically appropriate, including vitamin K for urgent vitamin K antagonist reversal, fibrinogen-containing products for hypofibrinogenemia, specific coagulation factor concentrates, or specific reversal agents for non-vitamin K antagonist anticoagulants. Selection of therapy should be based on the patient’s clinical condition, urgency of correction, and availability of alternative treatments. Volume Expansion EZPLAZ™ FDP is not intended for routine volume expansion. When administered in the absence of a documented coagulation factor deficiency or plasma protein deficiency, the expected clinical benefit may be limited, and alternative volume expanders are generally more appropriate. Clinicians should consider alternative therapies based on the patient’s clinical needs. Elevated INR Transfusion of EZPLAZ™ FDP may not result in meaningful correction of a minimally elevated international normalized ratio (INR), such as values between 1.5 and 1.7. In these situations, the likelihood of achieving clinically significant hemostatic benefit may be low, and alternative management strategies should be considered based on the patient’s overall clinical condition. ADVERSE REACTIONS To report SUSPECTED ADVERSE REACTIONS, contact Teleflex at 1-866-246-6990 and FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. For additional Safety Information, please see Full Prescribing Information at www.teleflex.com/EZPLAZPI. TELEFLEX EARNINGS CONFERENCE CALL 11/5/202637
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