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Teleflex Q2 Profit Climbs, Above Street View; Revenue Down; Cuts Annual Outlook

Medical devices maker Teleflex Incorporated (TFX) on Thursday reported net income of $105.51 million or $2.23 per share in the second quarter, higher than $83.25 million or $1.76 per share in the same quarter a year ago.

Excluding one-time items, EPS from continuing operations was $3.39, compared with $3.35 in the prior year period. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $3.34 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $704.54 million, down 1.3% year-over-year. The consensus estimate stood at $719.5 million.

Looking forward, the company has cut its full-year outlook. It expects adjusted EPS to be in the range of $13.00 to $13.40, down from $13.70 to $14.30 provided earlier. On average, analysts expect the company to report earnings of 13.97 per share.

On a constant currency basis, the company has lowered its full year revenue growth guidance to 3.25% - 4.25% from 4.0% - 5.5%. The consensus estimate stands at 3% revenue growth.

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