Teleflex (NYSE: TFX) Q1 2026 revenue jumps 32% as EPS turns negative
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Teleflex Incorporated reported mixed first-quarter 2026 results from continuing operations. Revenue reached $548.3 million, up 32.3% year-over-year and 5.1% on a pro forma adjusted constant currency basis, reflecting growth across Vascular Access, Interventional and Surgical categories.
GAAP diluted EPS from continuing operations was a loss of $(0.11), down from earnings of $1.14, driven by higher costs including restructuring, acquisition and amortization charges. Adjusted diluted EPS from continuing operations was $1.39, slightly below $1.44 a year earlier.
The company maintained its 2026 outlook, guiding to GAAP revenue growth of 14.40%–15.40%, pro forma adjusted constant currency revenue growth of 4.50%–5.50%, GAAP EPS of $2.90–$3.20 and adjusted EPS of $6.25–$6.55. Guidance includes about $90 million of stranded costs and excludes benefits from transition and manufacturing services agreements, planned ~$800 million debt reduction and a $1 billion share repurchase program funded largely by pending divestitures. Teleflex expects its Acute Care, Interventional Urology and OEM Strategic Divestitures to close in the second half of 2026 and has appointed Jason Weidman as President and CEO effective June 8, 2026.
Positive
- None.
Negative
- None.
Insights
Revenue is strong, GAAP earnings are pressured, and 2026 guidance is unchanged.
Teleflex delivered Q1 2026 continuing operations revenue of $548.3 million, up 32.3% year-over-year, or 5.1% on a pro forma adjusted constant currency basis. Growth was broad-based, with Interventional revenue more than doubling on a reported basis due to the acquired Vascular Intervention business.
Profitability was weaker on a GAAP basis. Diluted EPS from continuing operations fell to a loss of $(0.11) from $1.14, reflecting higher depreciation and amortization, restructuring, and acquisition-related costs. Adjusted diluted EPS slipped to $1.39 from $1.44, as lower gross margin and higher operating expenses offset revenue gains.
Management reiterated 2026 guidance for GAAP revenue growth of 14.4%–15.4% and adjusted EPS of $6.25–$6.55, which incorporates about $90 million of stranded costs and assumes an adjusted operating margin around 19%. The outlook also references using net proceeds from pending Strategic Divestitures for a $1 billion share repurchase program and roughly $800 million of debt paydown, though these capital actions are not embedded in the adjusted EPS guidance.
8-K Event Classification
5 items: 1.6, 2.0, 2.02, 7.01, 9.01
5 items
Item 1.6
Item 1.6
Item 2.0
Item 2.0
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, and exhibit attachments filed with this report.
Key Figures
Q1 2026 revenue (continuing ops): $548.3 million
Q1 2026 GAAP diluted EPS: $(0.11)
Q1 2026 adjusted diluted EPS: $1.39
+6 more
9 metrics
Q1 2026 revenue (continuing ops)
$548.3 million
Up 32.3% year-over-year; 5.1% pro forma adjusted constant currency growth
Q1 2026 GAAP diluted EPS
$(0.11)
From continuing operations; down from $1.14 in Q1 2025
Q1 2026 adjusted diluted EPS
$1.39
From continuing operations; compared to $1.44 in Q1 2025
2026 GAAP revenue growth guidance
14.40%–15.40%
Full-year 2026 growth from continuing operations
2026 pro forma adj. CC revenue growth
4.50%–5.50%
Full-year 2026 pro forma adjusted constant currency growth
2026 adjusted EPS guidance
$6.25–$6.55
Adjusted diluted EPS from continuing operations for 2026
Stranded costs in 2026 guidance
$90 million
Estimated full-year stranded costs affecting adjusted operating margin
Planned debt reduction
~$800 million
Intended paydown primarily funded by Strategic Divestitures
Share repurchase authorization
$1 billion
Planned capital return funded largely by Strategic Divestitures
Key Terms
pro forma adjusted constant currency revenue growth, adjusted diluted earnings per share, Strategic Divestitures, Italian payback measure, +2 more
6 terms
pro forma adjusted constant currency revenue growth financial
"Revenue from continuing operations of $548.3 million, up 32.3% compared to the prior year period, and up 5.1% on a pro forma adjusted constant currency basis"
Strategic Divestitures financial
"separation costs related to the Company's entry into agreements to divest its Acute Care, Interventional Urology and OEM businesses (the "Strategic Divestitures")"
Italian payback measure financial
"the impact from increases in our reserves related to the Italian payback measure pertaining to prior years as described in the Press Release"
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.
European Union Medical Device Regulation regulatory
"certain expenditures associated with the registration of medical devices under the European Union Medical Device Regulation"
A set of European rules that governs how medical devices are designed, tested, labeled and sold in the European Union; think of it as building codes for medical products that set safety and performance standards and require official review before devices reach patients. Investors care because these rules determine which products can be sold, how long approvals take, and how much companies must spend to comply—factors that affect revenue, timelines and risk.
ERP implementation technical
"costs incurred in connection with our implementation of a new global enterprise resource planning system and related information technology transition costs"
ERP implementation is the process of installing and configuring an enterprise resource planning (ERP) software system that combines a company’s core functions—like accounting, inventory, sales and HR—into one central platform. For investors, it matters because the rollout can change costs, efficiency and risk: a smooth implementation can boost productivity and margins, while problems can disrupt operations, delay revenue and increase expenses. Think of it as replacing many kitchen appliances with a single smart appliance that must be set up correctly to work well.
Earnings Snapshot
Revenue (continuing operations): $548.3 million · Guidance included
Q1 2026
Revenue (continuing operations)
$548.3 million
+32.3% YoY
GAAP diluted EPS (continuing ops)
$(0.11)
from $1.14 prior year
Adjusted diluted EPS (continuing ops)
$1.39
from $1.44 prior year
2026 GAAP revenue growth guidance
14.40%–15.40%
maintained
2026 adjusted EPS guidance
$6.25–$6.55
maintained
Guidance
Teleflex expects 2026 GAAP revenue growth of 14.40%–15.40%, pro forma adjusted constant currency revenue growth of 4.50%–5.50%, GAAP EPS of $2.90–$3.20 and adjusted EPS of $6.25–$6.55, incorporating about $90 million of stranded costs.
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
| Date of Report (Date of Earliest Event Reported) | |||||
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
| Registrant’s Telephone Number, Including Area Code | ||||||||||||||
| Not applicable | ||
| (Former Name or Former Address, If Changed Since Last Report) | ||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
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:
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 May 7, 2026, Teleflex Incorporated (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the quarter ended March 31, 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; and (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. 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 the Press Release; (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 May 7, 2026 to discuss its financial results for the quarter ended March 31, 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 May 7, 2026
99.2 Earnings Conference Call Slide Presentation
104 The Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL
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: May 7, 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 | May 7, 2026 | ||||
Teleflex Reports First Quarter Financial Results and Full Year 2026 Outlook
Wayne, PA -- Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the first quarter ended March 31, 2026.
First quarter 2026 continuing operations financial summary1
•Revenue from continuing operations of $548.3 million, up 32.3% compared to the prior year period, and up 5.1% on a pro forma adjusted constant currency basis1,2
•GAAP diluted EPS from continuing operations of $(0.11), compared to $1.14 in the prior year period
•Adjusted diluted EPS from continuing operations of $1.39, compared to $1.44 in the prior year period
2026 continuing operations guidance summary1
•Maintaining GAAP revenue growth guidance range of 14.40% to 15.40%
•Maintaining pro forma adjusted constant currency revenue growth guidance range of 4.50% to 5.50%2
•Maintaining GAAP EPS from continuing operations guidance range of $2.90 to $3.20
•Maintaining Adjusted diluted EPS from continuing operations guidance range to $6.25 to $6.55
◦Includes full year impact of stranded costs estimated to be $90 million
◦Excludes expected benefits from transition services (“TS”) and manufacturing services (“MS”) agreements that come into effect upon closing of Strategic Divestitures, which we anticipate will fully offset stranded costs on an annualized basis
◦Excludes impact of repurchases under previously announced $1 billion share repurchase program and expected debt paydown of ~$800 million primarily funded by closing of Strategic Divestitures
"Our first-quarter performance reflects disciplined execution and meaningful progress against our transformation plan," said Stuart Randle, Teleflex's Interim President and Chief Executive Officer. "We delivered a strong start to the year, with 5.1% pro forma adjusted constant currency revenue growth year-over-year, and we continue to expect our two strategic divestitures to close in the second half of 2026. We remain committed to using the majority of the net proceeds from the sales transactions to return capital to shareholders through our $1 billion share repurchase authorization, while also reducing debt by $800 million to enhance financial flexibility and support future growth. These actions are advancing our strategy to optimize our portfolio, strengthen Teleflex's position as a focused medical technologies leader and drive long-term value creation."
Mr. Randle continued, “We recently announced the appointment of Jason Weidman as President and Chief Executive Officer, effective June 8, 2026. His deep medical technology expertise and proven track record of driving growth and innovation make him well suited to lead Teleflex into its next chapter and capitalize on the opportunities ahead. Additionally, consistent with our
1
commitment to strong governance and creating shareholder value, we announced several actions in April, including the nomination of Michael J. Tokich to our Board of Directors, the initiation of opportunistic open-market share repurchases in the second quarter and our intent to establish a new Growth and Operating Committee of the Board.”
(1) Continuing operations excludes the Acute Care, Interventional Urology, and OEM businesses that were classified as discontinued operations during 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 and (b) the impact of foreign exchange.
NET REVENUE BY GLOBAL PRODUCT CATEGORY
The following table provides information regarding net revenues in each of the Company's global product categories for the three months ended March 31, 2026 and the comparable prior year period on both a GAAP and pro forma adjusted constant currency basis.
| Three Months Ended | % Increase | / | (Decrease) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| March 31, 2026 | March 30, 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 Access | $236.8 | $— | $236.8 | $219.1 | $— | $219.1 | 8.1% | 3.3% | —% | 4.8% | |||||||||||||||||||||||||||||||||||||||||||||||||
Interventional1 | 204.7 | — | 204.7 | 100.2 | 92.6 | 192.8 | 104.4% | 3.1% | 98.3% | 3.0% | |||||||||||||||||||||||||||||||||||||||||||||||||
Surgical2 | 106.8 | — | 106.8 | 95.0 | (0.5) | 94.5 | 12.4% | 3.1% | (0.6)% | 9.9% | |||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated1 | $548.3 | $— | $548.3 | $414.3 | $92.1 | $506.4 | 32.3% | 3.2% | 24.0% | 5.1% | |||||||||||||||||||||||||||||||||||||||||||||||||
Notes: (1) Adjustments are inclusive of Vascular Intervention pro forma and discontinued product adjustments.
(2) Adjustments are inclusive of discontinued product adjustments
See Pro Forma Adjusted Revenue by Global Product Category table for reconciliation of adjustments.
2
OTHER CONTINUING OPERATIONS FINANCIAL HIGHLIGHTS
•Depreciation expense, amortization of intangible assets and deferred financing charges for the three months ended March 31, 2026 totaled $55.2 million compared to $39.5 million for the prior year period.
•Total cash, cash equivalents and restricted cash equivalents at March 31, 2026 were $329.6 million compared to $402.7 million at December 31, 2025.
•Net accounts receivable at March 31, 2026 were $365.5 million compared to $345.6 million at December 31, 2025.
•Inventories at March 31, 2026 were $380.9 million compared to $404.4 million at December 31, 2025.
2026 CONTINUING OPERATIONS OUTLOOK
On a GAAP basis, the Company continues to expect full year 2026 revenue growth from continuing operations of 14.40% to 15.40%, including our estimate of an approximately 0.70% positive impact of foreign exchange rate fluctuations. On a pro forma adjusted constant currency basis, the Company is maintaining full year 2026 revenue growth from continuing operations of 4.50% to 5.50%.
The Company maintained its full year 2026 GAAP diluted earnings per share from continuing operations outlook range of $2.90 to $3.20. The Company continues to expect full year 2026 adjusted diluted earnings per share from continuing operations of $6.25 to $6.55.
Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation
| 2025 | 2026 Guidance | ||||||||||||||||
| Low | High | ||||||||||||||||
| GAAP revenue | $1,992.7 | $2,280 | $2,300 | ||||||||||||||
| 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 | $2,280 | $2,300 | ||||||||||||||
Forecasted 2026 Pro Forma Adjusted Constant Currency Revenue Percent Growth From Continuing Operations Reconciliation
| Low | High | ||||||||||
| Forecasted 2026 GAAP revenue growth | 14.4% | 15.4% | |||||||||
| 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 | 0.7% | 0.7% | |||||||||
| Forecasted 2026 pro forma adjusted constant currency revenue growth | 4.5% | 5.5% | |||||||||
3
Forecasted 2026 Adjusted Diluted Earnings Per Share From Continuing Operations Reconciliation
| Low | High | ||||||||||
| Forecasted GAAP diluted earnings per share from continuing operations | $2.90 | $3.20 | |||||||||
| Restructuring and optimization items, net of tax | $0.90 | $0.90 | |||||||||
| Acquisition, integration and divestiture related items, net of tax | $0.61 | $0.61 | |||||||||
| Other items, net of tax | $(0.65) | $(0.65) | |||||||||
| ERP implementation, net of tax | $0.30 | $0.30 | |||||||||
| MDR, net of tax | $0.02 | $0.02 | |||||||||
| Intangible amortization expense, net of tax | $2.17 | $2.17 | |||||||||
| Forecasted adjusted diluted earnings per share from continuing operations, net of tax | $6.25 | $6.55 | |||||||||
4
CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION
A webcast of Teleflex's first 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 May 7, 2026.
An audio replay of the investor call will be available beginning at 11:00 am ET on May 7, 2026, either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S. and Canada) or 1 609 800 9909(all other locations). The confirmation code is 69028.
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 form 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.
5
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; and (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.
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 changes include qualified restructuring costs (which may include 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
6
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.
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
7
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.
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 GLOBAL PRODUCT CATEGORY
The following table provides information regarding pro forma adjusted revenues in each of the Company's global product categories in continuing operations for the three months ended March 31, 2026 and the comparable prior year period.
| Q1 2026 | Q1 2025 | ||||||||||
| Vascular | 236.8 | 219.1 | |||||||||
| Interventional | 204.7 | 100.2 | |||||||||
| Surgical | 106.8 | 95.0 | |||||||||
| GAAP revenue | 548.3 | 414.3 | |||||||||
| Interventional - Vascular Intervention | — | 95.2 | |||||||||
| Interventional - Discontinued Products | — | (2.6) | |||||||||
| Surgical - Discontinued Products | — | (0.5) | |||||||||
| Pro forma adjusted revenue | $548.3 | $506.4 | |||||||||
| Vascular | 236.8 | 219.1 | |||||||||
| Interventional | 204.7 | 192.8 | |||||||||
| Surgical | 106.8 | 94.5 | |||||||||
8
Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)
Three Months Ended March 31, 2026 | |||||||||||||||||||||||||||||
| 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 | $548.3 | 56.1% | 41.2% | 8.1% | 3.7% | $(3.8) | $1.0 | (26.4)% | $(0.11) | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 0.6 | (1.4) | — | 5.0 | 28.0 | 4.4 | 0.54 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | 1.4 | (1.0) | — | 2.4 | 13.0 | 3.1 | 0.22 | |||||||||||||||||||||
| ERP implementation | — | — | (0.7) | — | 0.7 | 3.9 | 0.7 | 0.07 | |||||||||||||||||||||
| MDR | — | — | — | (0.1) | 0.1 | 0.4 | — | 0.01 | |||||||||||||||||||||
| Intangible amortization expense | — | 3.3 | (2.9) | — | 6.2 | 33.9 | 4.6 | 0.66 | |||||||||||||||||||||
| Adjustments total | — | 5.3 | (6.0) | (0.1) | 14.4 | 79.2 | 12.8 | 1.50 | |||||||||||||||||||||
| Adjusted basis | $548.3 | 61.4% | 35.2% | 8.0% | 18.1% | $75.4 | $13.8 | 18.3% | $1.39 | ||||||||||||||||||||
| Three Months Ended March 30, 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 | $414.3 | 61.7% | 36.9% | 6.1% | 18.3% | $58.8 | $6.4 | 10.9% | $1.14 | ||||||||||||||||||||
| Adjustments | |||||||||||||||||||||||||||||
| Restructuring and optimization charges (A) | — | 1.1 | — | — | 1.5 | 6.0 | 1.0 | 0.11 | |||||||||||||||||||||
| Acquisition, integration and divestiture related items (B) | — | — | 4.4 | — | (4.4) | (18.1) | 0.8 | (0.42) | |||||||||||||||||||||
| ERP implementation | — | — | (1.4) | — | 1.4 | 5.9 | 1.0 | 0.11 | |||||||||||||||||||||
| MDR | — | — | — | (0.2) | 0.2 | 0.7 | — | 0.02 | |||||||||||||||||||||
| Intangible amortization expense | — | 3.3 | (2.9) | — | 6.2 | 25.6 | 3.1 | 0.49 | |||||||||||||||||||||
| Tax adjustments | — | — | — | — | — | — | 0.7 | (0.01) | |||||||||||||||||||||
| Adjustments total | — | 4.4 | 0.1 | (0.2) | 4.9 | 20.1 | 6.6 | 0.30 | |||||||||||||||||||||
| Adjusted basis | $414.3 | 66.1% | 37.0% | 5.9% | 23.2% | $78.9 | $13.0 | 16.4% | $1.44 | ||||||||||||||||||||
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 and taxes as a percentage of as reported and adjusted revenues.
Totals may not sum due to rounding.
9
Tickmarks to Reconciliation Tables
(A)Restructuring and optimization charges – For the three months ended March 31, 2026, pre-tax restructuring charges were $16.8 million and restructuring related charges were $11.3 million. For the three months ended March 30, 2025, pre-tax restructuring charges were $1.4 million and restructuring related charges were $4.6 million.
(B)Acquisition, integration and divestiture related items – For the three months ended March 31, 2026, these charges primarily related to the acquisition the Vascular Intervention business of BIOTRONIK SE & Co. KG, which is inclusive of inventory step-up costs of $7.8 million and acquisition and integration costs of $7.8 million, partially offset by a benefit from contingent consideration of $2.6 million. For the three months ended March 30, 2025, these charges primarily related to the pending acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG, which is inclusive of $6.2 million of acquisition and integration costs offset by the recognition of a $22.5 million benefit related to non-designated foreign currency forward contracts.
10
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, forecasted 2026 GAAP, pro forma adjusted and pro forma adjusted constant currency revenue and revenue growth and GAAP and adjusted diluted earnings per share; our estimates regarding the projected impact of foreign currency exchange rate fluctuations on our 2026 financial results; statements about the pending Strategic Divestitures, the expected timetable for completing the Strategic Divestitures and the future financial and operating performance of the company following completion of the Strategic Divestitures; statements regarding our intended use of the net proceeds from the Strategic Divestitures; and statements regarding our ability to drive durable performance and long-term value for shareholders. 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 Strategic Divestitures do 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; 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 the 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.
11
TELEFLEX INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(Unaudited)
| Three Months Ended | |||||||||||
| March 31, 2026 | March 30, 2025 | ||||||||||
| (Dollars and shares in thousands, except per share) | |||||||||||
| Net revenues | $ | 548,262 | $ | 414,258 | |||||||
| Cost of goods sold | 240,836 | 158,827 | |||||||||
| Gross profit | 307,426 | 0 | 255,431 | ||||||||
| Selling, general and administrative expenses | 226,012 | 152,914 | |||||||||
| Research and development expenses | 44,386 | 25,295 | |||||||||
| Restructuring charges, separation costs and impairment charges | 16,845 | 1,422 | |||||||||
| Income from continuing operations before interest and taxes | 20,183 | 75,800 | |||||||||
| Interest expense | 25,718 | 18,537 | |||||||||
| Interest income | (1,708) | (1,488) | |||||||||
(Loss) income from continuing operations before taxes | (3,827) | 58,751 | |||||||||
| Taxes on income from continuing operations | 1,011 | 6,417 | |||||||||
(Loss) income from continuing operations | (4,838) | 52,334 | |||||||||
Operating (loss) income from discontinued operations | (2,643) | 50,060 | |||||||||
| Taxes on operating income from discontinued operations | 673 | 7,392 | |||||||||
| (Loss) income from discontinued operations | (3,316) | 42,668 | |||||||||
Net (loss) income | $ | (8,154) | $ | 95,002 | |||||||
| Earnings per share: | |||||||||||
Basic: | |||||||||||
| (Loss) Income from continuing operations | $ | (0.11) | $ | 1.14 | |||||||
| (Loss) Income from discontinued operations | (0.07) | 0.94 | |||||||||
Net (loss) income | $ | (0.18) | $ | 2.08 | |||||||
Diluted: | |||||||||||
| (Loss) Income from continuing operations | $ | (0.11) | $ | 1.14 | |||||||
(Loss) Income from discontinued operations | (0.07) | 0.93 | |||||||||
Net (loss) income | $ | (0.18) | $ | 2.07 | |||||||
Weighted average common shares outstanding | |||||||||||
Basic | 44,257 | 45,782 | |||||||||
Diluted | 44,257 | 45,926 | |||||||||
12
TELEFLEX INCORPORATED
CONSOLIDATED BALANCE SHEETS
(Unaudited)
| March 31, 2026 | December 31, 2025 | ||||||||||
| (Dollars in thousands) | |||||||||||
| ASSETS | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 309,411 | $ | 378,564 | |||||||
| Accounts receivable, net | 365,526 | 345,583 | |||||||||
| Inventories | 380,861 | 404,395 | |||||||||
| Prepaid expenses and other current assets | 149,808 | 150,678 | |||||||||
| Prepaid taxes | 16,793 | 19,566 | |||||||||
| Current assets of discontinued operations | 637,271 | 639,552 | |||||||||
| Total current assets | 1,859,670 | 1,938,338 | |||||||||
| Property, plant and equipment, net | 476,955 | 498,281 | |||||||||
| Operating lease assets | 84,912 | 91,817 | |||||||||
| Goodwill | 2,297,447 | 2,305,050 | |||||||||
| Intangibles assets, net | 1,485,885 | 1,524,150 | |||||||||
| Deferred tax assets | 12,206 | 12,593 | |||||||||
| Other assets | 113,557 | 112,984 | |||||||||
| Non-current assets of discontinued operations | 452,370 | 464,026 | |||||||||
| Total assets | 6,783,002 | 6,947,239 | |||||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Current borrowings | $ | 103,125 | $ | 100,000 | |||||||
| Accounts payable | 143,627 | 130,201 | |||||||||
| Accrued expenses | 118,423 | 117,350 | |||||||||
| Payroll and benefit-related liabilities | 103,345 | 124,769 | |||||||||
| Accrued interest | 16,478 | 5,404 | |||||||||
| Income taxes payable | 11,824 | 18,787 | |||||||||
| Other current liabilities | 103,929 | 137,195 | |||||||||
| Current liabilities of discontinued operations | 127,298 | 128,320 | |||||||||
| Total current liabilities | 728,049 | 762,026 | |||||||||
| Long-term borrowings | 2,514,268 | 2,541,449 | |||||||||
| Deferred tax liabilities | 169,429 | 183,749 | |||||||||
| Noncurrent liability for uncertain tax positions | 3,831 | 3,536 | |||||||||
| Noncurrent operating lease liabilities | 68,320 | 84,210 | |||||||||
| Other liabilities | 162,507 | 194,532 | |||||||||
| Non-current liabilities of discontinued operations | 52,162 | 52,969 | |||||||||
| Total liabilities | 3,698,566 | 3,822,471 | |||||||||
| Commitments and contingencies | |||||||||||
| Total shareholders' equity | 3,084,436 | 3,124,768 | |||||||||
| Total liabilities and shareholders' equity | $ | 6,783,002 | $ | 6,947,239 | |||||||
13
TELEFLEX INCORPORATED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Three Months Ended | |||||||||||
| March 31, 2026 | March 30, 2025 | ||||||||||
| (Dollars in thousands) | |||||||||||
| Cash flows from operating activities of continuing operations: | |||||||||||
| Net (loss) income | $ | (8,154) | $ | 95,002 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| (Income) loss from discontinued operations | 3,316 | (42,668) | |||||||||
| Depreciation expense | 19,853 | 13,037 | |||||||||
| Intangible asset amortization expense | 33,890 | 25,583 | |||||||||
| Deferred financing costs and debt discount amortization expense | 1,481 | 851 | |||||||||
| Changes in contingent consideration | (2,632) | (1,795) | |||||||||
| Stock-based compensation | 6,742 | 6,630 | |||||||||
| Gain on non-designated foreign currency forward contracts | — | (23,268) | |||||||||
| Deferred income taxes, net | (12,710) | (108) | |||||||||
| Interest benefit on swaps designated as net investment hedges | (8,305) | (4,239) | |||||||||
| Other | 3,558 | 762 | |||||||||
| Changes in assets and liabilities, net of effects of acquisitions and disposals: | |||||||||||
| Accounts receivable | (25,005) | (10,939) | |||||||||
| Inventories | 16,473 | (3,474) | |||||||||
| Prepaid expenses and other assets | 3,432 | (12,724) | |||||||||
| Accounts payable, accrued expenses and other liabilities | 8,197 | (17,488) | |||||||||
| Income taxes receivable and payable, net | 6,526 | 2,562 | |||||||||
| Net cash provided by operating activities from continuing operations | 46,662 | 27,724 | |||||||||
| Cash flows from investing activities of continuing operations: | |||||||||||
| Expenditures for property, plant and equipment | (18,791) | (24,132) | |||||||||
| Payments for businesses and intangibles acquired, net of cash acquired | — | (90) | |||||||||
| Insurance settlement proceeds | — | 6,307 | |||||||||
| Net payments on swaps designated as net investment hedges | (53,494) | — | |||||||||
| Purchase of investments | (2,500) | (5,000) | |||||||||
| Net cash used in investing activities from continuing operations | (74,785) | (22,915) | |||||||||
| Cash flows from financing activities of continuing operations: | |||||||||||
| Proceeds from new borrowings | — | 300,000 | |||||||||
| Reduction in borrowings | (25,250) | (49,125) | |||||||||
| Repurchase of common stock | — | (300,000) | |||||||||
| Net (payments) proceeds from share based compensation plans and related tax impacts | (4,627) | 7,348 | |||||||||
| Payments for contingent consideration | (58) | (56) | |||||||||
| Dividends paid | (15,050) | (15,191) | |||||||||
| Debt extinguishment, issuance and amendment fees | — | (2,500) | |||||||||
| Net cash used in financing activities from continuing operations | (44,985) | (59,524) | |||||||||
| Cash flows from discontinued operations: | |||||||||||
| Net cash provided by operating activities | 2,362 | 45,370 | |||||||||
| Net cash used in investing activities | (9,214) | (5,879) | |||||||||
| Net cash used in discontinued operations | (6,852) | 39,491 | |||||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents | (4,890) | 5,052 | |||||||||
| Net increase in cash, cash equivalents and restricted cash equivalents | (84,850) | (10,172) | |||||||||
| 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 | (39,448) | (35,397) | |||||||||
| Cash, cash equivalents and restricted cash equivalents at the end of the period | $ | 329,550 | $ | 282,081 | |||||||
14
Contacts:
Teleflex Incorporated:
Lawrence Keusch
Vice President, Investor Relations and Strategy Development
investors.teleflex.com
610-948-2836
15
First Quarter 2026 Earnings Conference Call 5/7/2026 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 May 7, 2026 either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S.) or 1 609 800 9909 (all other locations). The confirmation code is 69028. Conference Call Logistics
Today’s Speakers TELEFLEX EARNINGS CONFERENCE CALL 5/7/2026 Lawrence Keusch VP, Investor Relations and Strategy Development Stuart Randle Interim President and CEO John Deren Executive VP and CFO
TELEFLEX EARNINGS CONFERENCE CALL 5/7/20264 Additional Notes This document contains certain highlights with respect to our first 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 March 31, 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 March 31, 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 expectations with respect to the timing for closing of the sales of our Acute Care, Interventional Urology and OEM businesses (which we refer to as the “Strategic Divestitures”); statements regarding our planned uses of the net proceeds from the Strategic Divestitures, including, without limitation, with respect to the paydown of debt and the repurchase of shares our outstanding common stock; our expectation that we will be able to begin repurchasing shares of our common stock in the second quarter of 2026; 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; our expectation that our 2027 results will provide a more representative view of our standalone, steady-state financial profile; our expectation that our Interventional business will continue to experience momentum in the second half of 2026 based on our expanded presence in cath labs and cross-selling opportunities; our expectation that our Surgical business will experience some moderation in growth in the second quarter of 2026; 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 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.
Stuart Randle Interim President and CEO Executive Overview
Governance enhancements • Michael J. Tokich (former CFO, STERIS plc) nominated to Board • Plan to establish new Growth & Operating Committee • Actions underscore commitment to strong governance, thoughtful oversight, and long-term performance Planned Board transitions • Dr. Stephen Klasko and John Heinmiller to conclude their respective Board terms at upcoming annual stockholders meeting • Andrew Krakauer to succeed as Chair following Annual Meeting ◦ Current Board Compensation Committee Chair; director of Teleflex since 2018 ◦ Former CEO of Cantel Medical CEO appointment • Jason Weidman named President & CEO, effective June 8 • 25+ years of medtech experience with almost two decades at Medtronic • Proven track record in driving growth, innovation, and operational execution • Stuart Randle, Interim CEO, to remain on Board, ensuring continuity and support during transition 6 Governance Updates
Q1 Performance Summary ◦ Maintaining pro forma adjusted constant currency revenue growth guidance range of 4.50% to 5.50% ◦ Maintaining adjusted diluted EPS from continuing operations guidance of $6.25 to $6.55 ◦ Q1'26 pro forma adjusted constant currency revenue grew 5.1% year-over-year ◦ Q1'26 adjusted gross margin of 61.4% and adjusted operating margin of 18.1% ◦ Q1'26 adjusted EPS of $1.39, a 3.5% decrease year-over-year Q1'26 Continuing Operations Highlights 2026 Financial Guidance Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. TELEFLEX EARNINGS CONFERENCE CALL 5/7/2026
Q1'26 Global Product Commentary of Continuing Operations TELEFLEX EARNINGS CONFERENCE CALL 5/7/20268 Vascular Interventional Sales ($M) Commentary • In Q1'26 growth was primarily driven by growth in our hemostatic products and in our central venous and other access portfolio Surgical • The performance for Q1'26 was driven by intraosseous, right heart catheters, and complex catheters $236.8 Reported rev. growth: 8.1% Pro forma adj. const. curr. rev. growth: 4.8% 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. $204.7 Reported rev. growth: 104.4% Pro forma adj. const. curr. rev. growth: 3.0% $106.8 Reported rev. growth: 12.4% Pro forma adj. const. curr. rev. growth: 9.9% • Q1'26 growth was primarily driven by our ligation clip, and some timing of orders in our instrument portfolio • As expected, growth during the quarter was impacted by further integration of the Biotronik Vascular Intervention business • Continue to anticipate improving momentum in the second half of 2026 based on our expanded presence in cath labs and cross-selling opportunities • Instrument orders can be lumpy quarter to quarter, and we anticipate some moderation of growth in Q2'26
Three Months Ended March 31, 2026 March 31, 2026 March 30, 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 $236.8 $— $236.8 $219.1 $— $219.1 8.1% 3.3% —% 4.8% Interventional1 204.7 — 204.7 100.2 92.6 192.8 104.4% 3.1% 98.3% 3.0% Surgical2 106.8 — 106.8 95.0 (0.5) 94.5 12.4% 3.1% (0.6)% 9.9% Consolidated1 $548.3 $— $548.3 $414.3 $92.1 $506.4 32.3% 3.2% 24.0% 5.1% TELEFLEX EARNINGS CONFERENCE CALL 5/7/20269 Q1'26 Global Product Category Revenue Review 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
John Deren Executive VP and CFO Financial Overview
Q1'26 Financial Review of Continuing Operations TELEFLEX EARNINGS CONFERENCE CALL 5/7/202611 Note: See appendices for reconciliations of non-GAAP financial information. SG&A Expense (% of Sales) Gross Margin R&D Expense (% of Sales) Operating Margin Earnings per Share ◦ the adverse impact of tariffs ◦ quality remediation charges primarily associated with third-party supplier disruption ◦ higher logistics and distribution costs ◦ the addition of the Vascular Intervention acquisition, which has a slightly lower gross margin than the corporate average ◦ year-over-year gross margin pressure ◦ higher operating expenses associated with the acquisition of the Vascular Intervention business as well as increased R&D investment ◦ partially offset by the positive impact of foreign exchange rates ◦ tariffs and higher interest expense ◦ partially offset by higher revenue and adjusted operating income, including the impact of the Vascular Intervention acquisition and higher R&D spending, and lower share count ◦ The year-over-year adjusted operating margin decline was driven by the following: ◦ The year-over-year adjusted gross margin decline was primarily driven by the following: ◦ The year-over-year adjusted earnings per share decrease was driven by the following: ◦ cost containment initiatives ◦ partially offset by the negative impact of foreign exchange rates ◦ The year-over-year adjusted SG&A expense % of sales decline was driven by the following: ◦ higher R&D expenses associated primarily with the Vascular Intervention acquisition ◦ The year-over-year adjusted R&D expense % of sales increase was driven by the following: (470) bps (510) bps Adjusted GAAP
12 Revenue ◦ Maintaining 2026 GAAP revenue from continuing operations growth range of 14.4% to 15.4% year-over-year ◦ Maintaining 2026 pro forma adjusted constant currency revenue growth range of 4.5% to 5.5% Earnings Per Share ◦ Maintaining 2026 GAAP EPS from continuing operations range of $2.90 to $3.20 ◦ Maintaining 2026 Adjusted diluted EPS from continuing operations range of $6.25 to $6.55 2026 Financial Guidance Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information.
2026 Guidance Considerations 13 Pro Forma Adj. CC Revenue Growth ◦ 4.5% to 5.5% pro forma adjusted constant currency revenue growth for 2026 Adjusted Earnings Per Share ◦ 2026 adjusted EPS from continuing operations in the range of $6.25 to $6.55 ◦ Excludes foreign exchange, Italian payback matter, and discontinued products ◦ Includes Vascular Intervention revenue for the first half of 2025 ◦ ~19.0% adjusted operating margin ◦ Annualized impact of $90 million in stranded costs ◦ $105M of interest expense ◦ Refinancing of $500M in debt (4.625% Senior Notes due 2027) ◦ No incremental debt paydown with net proceeds from sale transactions ◦ ~13.5% tax rate ◦ No material change in share count vs. 2025 ◦ No incremental share repurchase from net proceeds from sale transactions ◦ Assumes: Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information.
14 Adjusted Operating Margin ◦ $90m stranded costs impacting 2026 adjusted operating margin Debt Paydown ◦ Intend to pay down ~$800 million in debt, including debt associated with the Vascular Intervention acquisition, funded with net proceeds from the sale transactions Share Repurchase ◦ $1 billion share repurchase authorization primarily funded with net proceeds from the sale transactions, now expected to commence in Q2'26 2026 Financial Guidance – Future Opportunities ◦ TS/MS agreements expected to offset stranded costs on an annualized basis ◦ 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
2026 Financial Guidance of Continuing Operations Summary TELEFLEX EARNINGS CONFERENCE CALL 5/7/202615 2026 Guidance Low High GAAP Revenue Growth 14.4% 15.4% 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 0.7% 0.7% Pro Forma Adjusted Constant Currency Revenue Growth 4.5% 5.5% Adjusted Operating Margin ~19% Adjusted EPS $6.25 $6.55 Adjusted EPS % Growth (10.5)% (6.2)% Note: See appendices for reconciliations of non-GAAP financial information.
Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation TELEFLEX EARNINGS CONFERENCE CALL 5/7/202616 2026 Guidance 2025 2026 Guidance Low High GAAP revenue $1,992.7 $2,280 $2,300 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 $2,280 $2,300 Note: See appendices for reconciliations of non-GAAP financial information.
TELEFLEX EARNINGS CONFERENCE CALL 5/7/202617 Key Takeaways Teleflex is in the midst of a transformation that is intended to optimize our portfolio, create a more focused medical technologies leader and position our company for meaningful value creation opportunities going forward. We continue to make progress on the pillars of our strategic plan, which are expected to catalyze a strong financial profile beginning in 2027. We are pleased with our Q1’26 performance, with pro forma adjusted constant currency growth of 5.1% year-over-year tracking towards our 2026 pro-forma constant currency growth guidance of 4.5% to 5.5%. In addition, the Q1'26 performance is aligned with our mid-single-digit growth profile aspirations and represents a strong reflection of the stable growth potential of our go- forward business. We continue to expect our two strategic divestitures to close in the second half of 2026, including an expectation for the OEM sale transaction to be completed in Q3'26. We remain committed to return significant capital to shareholders through our $1 billion share repurchase program, while also reducing debt to enhance our financial flexibility and support future growth and value creation. In fact, we have announced that the Company now expects to begin opportunistic share repurchases in the open market during Q2'26 rather than waiting for the close of the first strategic divestiture.
TELEFLEX EARNINGS CONFERENCE CALL 5/7/202618 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; and (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. 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 5/7/202620
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; and (ix) 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) intangible amortization expense, and (iv) Italian payback measure. 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) and intangible amortization expense. 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 5/7/202621
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 changes include qualified restructuring costs (which may include 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. 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 5/7/202622
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. 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 5/7/202623
Appendix A1 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) TELEFLEX EARNINGS CONFERENCE CALL 5/7/202624 Three Months Ended March 31, 2026 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 $548.3 56.1% 41.2% 8.1% 3.7% $(3.8) $1.0 (26.4)% $(0.11) Adjustments Restructuring and optimization charges (A) — 0.6 (1.4) — 5.0 28.0 4.4 0.54 Acquisition, integration and divestiture related items (B) — 1.4 (1.0) — 2.4 13.0 3.1 0.22 ERP implementation — — (0.7) — 0.7 3.9 0.7 0.07 MDR — — — (0.1) 0.1 0.4 — 0.01 Intangible amortization expense — 3.3 (2.9) — 6.2 33.9 4.6 0.66 Adjustments total — 5.3 (6.0) (0.1) 14.4 79.2 12.8 1.50 Adjusted basis $548.3 61.4% 35.2% 8.0% 18.1% $75.4 $13.8 18.3% $1.39 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. 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 March 30, 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 $414.3 61.7% 36.9% 6.1% 18.3% $58.8 $6.4 10.9% $1.14 Adjustments Restructuring and optimization charges (A) — 1.1 — — 1.5 6.0 1.0 0.11 Acquisition, integration and divestiture related items (B) — — 4.4 — (4.4) (18.1) 0.8 (0.42) ERP implementation — — (1.4) — 1.4 5.9 1.0 0.11 MDR — — — (0.2) 0.2 0.7 — 0.02 Intangible amortization expense — 3.3 (2.9) — 6.2 25.6 3.1 0.49 Tax adjustments — — — — — — 0.7 (0.01) Adjustments total — 4.4 0.1 (0.2) 4.9 20.1 6.6 0.30 Adjusted basis $414.3 66.1% 37.0% 5.9% 23.2% $78.9 $13.0 16.4% $1.44 TELEFLEX EARNINGS CONFERENCE CALL 5/7/202625 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues. 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 A2 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)
TELEFLEX EARNINGS CONFERENCE CALL 5/7/202626 A. Restructuring and optimization charges – For the three months ended March 31, 2026, pre-tax restructuring charges were $16.8 million and restructuring related charges were $11.3 million. For the three months ended March 30, 2025, pre-tax restructuring charges were $1.4 million and restructuring related charges were $4.6 million. B. Acquisition, integration and divestiture related items – For the three months ended March 31, 2026, these charges primarily related to the acquisition the Vascular Intervention business of BIOTRONIK SE & Co. KG, which is inclusive of inventory step-up costs of $7.8 million and acquisition and integration costs of $7.8 million, partially offset by a benefit from contingent consideration of $2.6 million. For the three months ended March 30, 2025, these charges primarily related to the pending acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG, which is inclusive of $6.2 million of acquisition and integration costs offset by the recognition of a $22.5 million benefit related to non- designated foreign currency forward contracts. Appendix B Tickmarks
Appendix C - 2026 Adj. Operating Margin Guidance Reconciliation TELEFLEX EARNINGS CONFERENCE CALL 5/7/202627 Forecasted GAAP Operating Margin 10.3% Estimated restructuring and optimization items 2.0% Estimated acquisition, integration and divestiture related items 1.6% Estimated separation costs 0.3% Estimated other items (1.1)% Estimated ERP implementation 0.7% Estimated MDR 0.1% Estimated intangible amortization expense 5.1% Forecasted Adjusted Operating Margin 19.0%
Appendix D - Reconciliation of Forecasted 2026 Adjusted Earnings Per Share Guidance TELEFLEX EARNINGS CONFERENCE CALL 5/7/202628 Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $2.90 $3.20 Restructuring and optimization items, net of tax $0.90 $0.90 Acquisition, integration and divestiture related items, net of tax $0.61 $0.61 Other costs, net of tax $(0.65) $(0.65) ERP implementation, net of tax $0.30 $0.30 MDR, net of tax $0.02 $0.02 Intangible amortization expense, net of tax $2.17 $2.17 Forecasted Adjusted Diluted Earnings Per Share from continuing operations, net of tax $6.25 $6.55
FAQ
How did Teleflex (TFX) perform financially in Q1 2026?
Teleflex reported Q1 2026 continuing operations revenue of $548.3 million, up 32.3% year-over-year. GAAP diluted EPS from continuing operations was a loss of $(0.11), while adjusted diluted EPS was $1.39, slightly below $1.44 in the prior-year quarter.
What 2026 guidance did Teleflex (TFX) reaffirm in this 8-K?
Teleflex maintained 2026 continuing operations guidance for GAAP revenue growth of 14.40%–15.40% and pro forma adjusted constant currency revenue growth of 4.50%–5.50%. It also reaffirmed GAAP EPS of $2.90–$3.20 and adjusted diluted EPS of $6.25–$6.55.
What are Teleflex’s (TFX) planned Strategic Divestitures and timing?
Teleflex has classified its Acute Care, Interventional Urology and OEM businesses as discontinued operations and refers to their planned sales as the “Strategic Divestitures.” The company continues to expect these divestitures to close in the second half of 2026, subject to customary closing conditions.
How does Teleflex (TFX) plan to use proceeds from its Strategic Divestitures?
Teleflex states it intends to use the majority of net proceeds to return capital to shareholders via a $1 billion share repurchase authorization and to reduce debt by about $800 million, aiming to enhance financial flexibility and support future growth initiatives.
What non-GAAP measures does Teleflex (TFX) highlight in this filing?
Teleflex emphasizes pro forma adjusted revenue, pro forma adjusted constant currency revenue growth, and adjusted diluted EPS. These exclude items such as restructuring, acquisition and divestiture costs, ERP implementation expenses, MDR-related costs, intangible amortization and specific tax adjustments to show underlying operating trends.
How did the Vascular Intervention acquisition affect Teleflex’s Q1 2026 results?
The acquired Vascular Intervention business significantly boosted Interventional revenue, helping that category grow reported sales by 104.4% year-over-year. On a pro forma adjusted constant currency basis, Interventional revenue grew 3.0%, reflecting integration of the acquired portfolio into Teleflex’s continuing operations.
What leadership and governance changes did Teleflex (TFX) announce?
Teleflex announced that Jason Weidman will become President and CEO effective June 8, 2026, while interim CEO Stuart Randle remains on the board. The company also nominated Michael J. Tokich to its board and plans to form a new Growth and Operating Committee.