Teleflex Inc Earnings: Here’s Why Shares are Down Now

Teleflex Incorporated (NYSE:TFX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.83%.

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Teleflex Incorporated Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 1.98% to $1.03 in the quarter versus EPS of $1.01 in the year-earlier quarter.

Revenue: Rose 6.23% to $411.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Teleflex Incorporated reported adjusted EPS income of $1.03 per share. By that measure, the company beat the mean analyst estimate of $1.01. It missed the average revenue estimate of $416.27 million.

Quoting Management: “Overall, in the first quarter, I am pleased with the progress Teleflex has made on its operating initiatives,” said Benson Smith, Chairman, President and CEO. “The Company delivered high single-digit revenue growth and year-over-year earnings per share expansion, despite being impacted by headwinds such as two fewer shipping days compared to last year’s first quarter, the medical device tax and the impact of our convertible notes on our weighted average shares calculation due to the appreciation in our stock price. We remain focused on executing our strategic plan and capturing additional share in the markets we serve, while remaining committed to rationalizing our cost base to generate increased profitability for our shareholders.”

Key Stats (on next page)…

Revenue decreased 1.71% from $419.06 million in the previous quarter. EPS decreased 9.65% from $1.14 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.21 to a profit $1.2. For the current year, the average estimate has moved up from a profit of $4.83 to a profit of $4.84 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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