Teleflex Inc Q1 Profit Increases, Beats Estimates - Update

(Adds Outlook)

Teleflex Inc (TFX) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $77.37 million, or $1.63 per share. This compares with $74.87 million, or $1.58 per share, in last year's first quarter.

Excluding items, Teleflex Inc reported adjusted earnings of $2.88 per share for the period.

Analysts on average had expected the company to earn $2.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.2% to $641.72 million from $633.93 million last year.

Looking forward, Teleflex, cut its full-year outlook for earnings per share from continuing operations to the range of $8.85-$9.45 from $8.90-$9.50.

Further, the company reiterated its 2022 adjusted earnings per share from continuing operations outlook of $13.70 to $14.30.

The consensus estimate stands at $13.89 per share.

Full-year revenue outlook is unchanged and the company still expects it to increase by 2.3% to 3.8%. Analysts see revenue growth of $3.2% for the full year.

Teleflex Inc earnings at a glance (GAAP) :

-Earnings (Q1): $77.37 Mln. vs. $74.87 Mln. last year.
-EPS (Q1): $1.63 vs. $1.58 last year.
-Analyst Estimate: $2.75
-Revenue (Q1): $641.72 Mln vs. $633.93 Mln last year.

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